LT Foods becomes first company to be certified by UN-backed Sustainable Rice Platform

The L3 SRP certification is the highest level of verification for sustainable cultivation of rice.

Mar 22, 2021 03:03 IST India Infoline News Service

LT Foods
LT Foods Limited has become the first Company globally to be certified with highest level of verification – L3, by UN-backed Sustainable Rice Platform (SRP) ecolabel. This will enable the Company to use Sustainable Rice Platform (SRP) verified logo on the packs of Rice produced by verified 1,000+ farmers growing sustainable rice.

LT Foods works with farmers to grow sustainable & residue free basmati rice as per the SRP standards under its Agri Program. “Preferred by Nature”, the first verification body accredited by SRP, audited 1000+ paddy farmers associated with LT Foods in the states of Haryana and Punjab covering 4700 hectares of land.

Commenting on the occasion, Managing Director & CEO Ashwani Kumar Arora said, “We are delighted to receive the L3 verification from SRP. LT Foods resolutely follows Sustainable Farming Practices that benefits farmers, saves resources and elevates the socio economic conditions of the farming communities.

This recognition will further boost the confidence of all stakeholders in our sustainable business model with ‘Farm to Fork’ approach. The Company will continue to work relentlessly in this direction going forward and invest in cutting edge technologies for farm advisory”

The L3 SRP certification is the highest level of verification for sustainable cultivation of rice.

A new ecolabel launched by the Sustainable Rice Platform (SRP) will help shoppers reduce their environmental impact by identifying rice that has been sustainably produced. By stocking SRP verified rice, food retailers can make measurable contribution to sustainability & climate change targets. It is also seen that employing best practices in rice farming can reduce water usage by more than 25% and methane emissions by up to 50%. Switching to SRP practices can boost farm incomes by up to 20%. Adoption of climate smart agriculture and sustainable best practices in rice not only contributes to the UN Sustainable Development Goals but also bolsters the global food systems.

The SRP is a platform of over 100 public, private, research, financial institutions and civil society organizations led by the UN Environment Programme (UNEP), the International Rice Research Institute (IRRI) and Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ). It has developed the “SRP-Verified” Label to reduce the environmental impact of one of the largest food crops in the world.

SRP standards have stringent performance-based assurance scheme having indicators across environmental, economic and social parameters. To claim that rice is sustainably grown, farms and the complete chain of custody need to undergo independent third party audit managed by Germany- based assurance partner Global G.A.P.

L T Foods ended at Rs57.60 up by Rs0.55 apiece or 0.96% from its previous closing of Rs57.05 apiece on the BSE.

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