He owns land eight times the size of Mumbai, lakh acres to be precise. He claims to be the world's largest holder of greenhouse assets ( acres) and the world's largest landbank holder.
His company, Karuturi Global, figures among the top 25 agri transnational corporations. But he wants more &#; to break into the top 10 and rub shoulders with the likes of ConAgro and Cargill.
Meet Sai Ramakrishna Karuturiwhose improbable journey has taken him, at 43, from a family-run cable business in Bangalore to being one of the biggest landowners in the world. No mean achievement for a boy who was thrown out of six schools before landing on his feet at Mysore's Sri Rama Krishna Vidyashala. He's forever indebted to the institute's Swami Sureshanandaji and to his parents who refused to give up on a "difficult child."
Karuturi, the 'rose king of the world', with an annual capacity of million roses and a 9 per cent share of the crucial European market, has today gone far beyond floriculture. Given that food shortages are likely to be an enduring global phenomenon with resultant high prices, he's diversifying into food production.
How did a man with a mechanical engineering degree fr
Ramakrishna Karuturi: Man behind Karuturi Global - world's largest producer of cut roses
With the government of Ethiopia leasing out land at low cost to hi-tech foreign agriculture companies, there was indeed an opportunity in commercial farming; Ethiopia plans to transfer million ha of land to such investors for the next four years.
“We were looking at becoming one of the top five agro-commodities [rice, maize, etc] producers in the world and a significant player in the global food business,” says Karuturi who has steered Karuturi Global, once confined to Bangalore alone, to an international entity.
He started the company in , a few years after finishing his engineering degree from Bangalore University. But doing business isn’t as easy as pie in Ethiopia, where land is increasing
Sweet Smell of Success
For Sai Ramakrishna Karuturi, life is quite literally a bed of roses as the world’s largest producer of the beautiful, red flower. A mechanical engineer by training, Karuturi began his company with Rs 5 crore and three employees in Cut to today where just in the last quarter, Karuturi Global’s revenues were Rs crore. The company produces million rose stems annually and exports million every day, mostly from their farms in Ethiopia and Kenya. Now, Karuturi is hoping his new focus—agriculture—will reap even greater harvests. He’s acquired vast tracts of land in Africa, and aims to produce three million tonnes of food annually by
Entrepreneurship runs in my blood. My father, Surya Rao Karuturi, was a first-generation entrepreneur who started as a small rice trader, went on to become a large-scale farmer and eventually became a manufacturer of cable and transmission towers. While growing up in Bengaluru, I was greatly influenced by him. His foresight and never-say-die attitude have been my inspiration all along.
I always knew I would join the family business. After graduating in mechanical engineering from Bangalore University in , I went to Case Western
The fall of Karuturi: how the crisis in the rose market is cutting the hopes of millions
© IBI World Limited
The beggars try to force them on the street. In all the major cities of Europe, the number of makeshift flower stands open day and night continues to grow and over time they become veritable shops. We don&#;t notice it, but as the official rose market, run by leading Dutch wholesalers, grows with the increasing welfare of the western population, a barely noticeable trade has taken shape in the streets that has been for years by an Indian multinational, Karuturi Global, which organizes and controls the jobs of hundreds of thousands of people in an unexpected third world &#; from the thriving highlands of Kenya and Ethiopia to the greenhouses of South America. A market in which Karuturi has speculated unscrupulously.
In the horticultural market, the cut flower market is one of the most important branches of the economy, and its worldwide turnover is estimated at over $ billion per year[1]. The greenhouses, where most flowers are grown, employ millions of workers[2]: Colombia&#;s flower exports, considered to be the best in the world in terms of quality[3], generate inc
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