<p>US agribusiness giant Cargill is investing in India's burgeoning processed food sector with a $73 million corn milling unit, the head of its India operation said.<br /><br />"We aim to start a corn milling unit with a daily 800 to 1,000 tonnes processing capacity by 2014," Siraj Chaudhry, chairman of Cargill India said.<br /><br />The company, a bellwether of world commodity markets, is acquiring land at Davangere in Karnataka, the top corn-producing state in India, Asia's second-largest grower of the grain behind China. The first phase of the processing unit at Davangere will be up and running by the third quarter of 2014.<br /><br />"Our plant will cater to the growing demand for modified starch in the processed food segment," he said.</p>
<p>US agribusiness giant Cargill is investing in India's burgeoning processed food sector with a $73 million corn milling unit, the head of its India operation said.<br /><br />"We aim to start a corn milling unit with a daily 800 to 1,000 tonnes processing capacity by 2014," Siraj Chaudhry, chairman of Cargill India said.<br /><br />The company, a bellwether of world commodity markets, is acquiring land at Davangere in Karnataka, the top corn-producing state in India, Asia's second-largest grower of the grain behind China. The first phase of the processing unit at Davangere will be up and running by the third quarter of 2014.<br /><br />"Our plant will cater to the growing demand for modified starch in the processed food segment," he said.</p>