Cold Storage Warehousing Facility: Need of the Hour for Indian Economy
A cold storage is a temperature-controlled storage facility that maintains a product’s temperature in a specified range for a higher shelf life than in normal ambient conditions
As per last GCCA (Global Cold Chain Alliance) report, global capacity of cold storage warehouses has increased by 2.67% to 616 million cubic meters in 2018 compared to 2016. In the global ranking, India is the single largest country market, at 150 million cubic meters, followed by the United States at 131 million cubic meters, and China at 105 million cubic meters. In future, India’s cold storage industry is predicted to grow at a CAGR of 13-15% over fiscals 2019-23. The government has also adopted appropriate policies to support this exponential growth by investing additional 14 billion US dollars for road infrastructure and building 8,231 kilometres of new highways.
The growing significance of cold storage to the global economy and India, in particular, can be attributed to rising demand for processed food, fresh fruits & vegetables, seafood and bio-pharmaceuticals in export markets. In fact, EXIM-focused (Export – Import) commodities occupy 65-70% of cold storage across the country because of stringent quality requirements which necessitates temperature-controlled storages and use of reefers across the value chain. Another important factor why the cold chain has become a priority is the current extent of wastage across the value chain. According to a study conducted by the Central Institute of Post-harvest Engineering and Technology (CIPHET) in 2015, the total harvest and post-harvest losses amounted to USD 14 Bn. The wastage levels vary across categories and provide a huge opportunity for wastage reduction through food processing and development of post-harvest logistics, storage and marketing infrastructure. The wastage levels in India vary across categories, with highest wastages in the F&V and Marine sector.
To make cold storage value chain an integral engine to economic growth, central and state governments should look to increase the number of public cold storage facilities (According to official statistics, there are about 7,645 cold storages in the country of which 95% is owned by the private sector, 3% by cooperatives and only 2% by the public sector undertakings.). Also, the Government should provide sops and capital subsidies to improve the condition of the existing public cold storage with inadequate facilities
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Cold storage warehousing facilities for economic growth of India
Cold storage warehousing facilities for economic growth of India
Cold storage warehousing facilities for economic growth of India
Cold storage warehousing facilities for economic growth of India
Cold storage warehousing facilities for economic growth of India
Cold storage warehousing facilities for economic growth of India
Cold storage warehousing facilities for economic growth of India
Cold storage warehousing facilities for economic growth of India
Cold storage warehousing facilities for economic growth of India
Cold storage warehousing facilities for economic growth of India
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Cold storage warehousing facilities for economic growth of India
Cold storage warehousing facilities for economic growth of India
Cold storage warehousing facilities for economic growth of India
Cold storage warehousing facilities for economic growth of India
Cold storage warehousing facilities for economic growth of India
Cold storage warehousing facilities for economic growth of India
Cold storage warehousing facilities for economic growth of India
Cold storage warehousing facilities for economic growth of India
Cold storage warehousing facilities for economic growth of India
Cold storage warehousing facilities for economic growth of India
Cold storage warehousing facilities for economic growth of India
Cold storage warehousing facilities for economic growth of India
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