Elpitiya Plantations bets big on berries

• Data-driven expansion and new varieties on the horizon
• Revenue from the berry segment surged by an impressive 55% YoY to Rs. 444 mn in FY 2024/25

Elpitiya Plantations PLC (EPP) is strategically deepening its foray into high-value horticulture, with a significant focus on expanding its successful berry cultivation operations and introducing new varieties, according to the latest annual report of the company.

This initiative was a core component of the company’s overarching ‘Design 2020’ strategy and broader transformational plan, which emphasises diversification and a data-driven approach to optimise decision-making and spur growth.

The company’s berry business has emerged as a standout performer, achieving historic records in both profitability and production during the 2024/25 financial year. 

Revenue from the berry segment surged by an impressive 55 percent to Rs. 444 million in FY 2024/25, a substantial increase from Rs. 286 million in the preceding year. This success encompasses the cultivation of strawberries, raspberries, blackberries, and blueberries, marketed under brands including “Berry Much.” 

Fueling this expansion is a robust investment in technology and digitisation. EPP is committed to transforming into a data-driven organisation by leveraging technology to digitally capture all business-related data. This strategic direction includes the implementation of workflow automation, the integration of key databases to create a unified digital data environment, and the use of advanced analytics for more informed decision-making. 

“The berry business was a standout performer, achieving historic records in both profitability and production,” stated Elpitiya Plantations Managing Director Dr. Rohan Fernando. 

Elpitiya Plantations shared a clear roadmap for its berry segment’s strategic expansion and future growth. In the short term, for the 2025/26 fiscal year, the immediate focus is to expand berry cultivation by increasing the number of polytunnels used for production, building on the progress of installing 20 new polytunnels.

Looking towards the medium term, EPP plans to scale up blackberry production by adding 2 hectares of new plantings (approximately 12,000-14,000 plants), which is expected to increase output by 200-300 percent. 

The company is also preparing for the initial commercial planting of 1 hectare of raspberries following a successful R&D phase and aims to scale up pilot commercial sales of gooseberries contingent on market performance. 

For the long term, EPP is introducing new blueberry varieties, having imported advanced planting material from the United States for 3 hectares, with the first harvests anticipated in 2026. 

While specific revenue percentage targets for the berry segment alone are not detailed, this expansion aligns with EPP’s “Design 2020” strategy, which aims for revenue from non-plantation business projects (where berries are a key component) to reach Rs. 6.4 billion by FY 29/30.

The broader long-term goal is for value-added and new segments, including high-value horticulture, to contribute over 40 percent to total revenue. An investment of Rs. 66.2 million has been allocated to support these berry initiatives.

Elpitiya Plantations Chief Executive Officer Geeth Kumara Dayananda affirmed the company’s direction, stating, “We are embarking on a pivotal strategic renewal to sharpening our focus and setting our strategic direction for the next five years”.  (NF)