January 29, 2019 / 9:24 AM / 6 months ago

Carrefour joins organic agriculture crowdfunding project

PARIS, Jan 29 (Reuters) - French retailer Carrefour is joining up with other with food companies including Danone to launch "MiiMOSA Transition", a crowdfunding project to help farmers switch to organic farming, in response to rising consumer demand for socially responsible practices.

Food groups Herta as well as French food co-operatives d'Aucy and Les Paysans de Rougeline are also part of the project that will help producers upgrade their farming, livestock rearing and crop-growing practices.

No financial details were provided regarding the project.

Carrefour, Europe's largest food retailer, has increased its focus on organic food, under a global five-year plan to boost sales and profits. It has also adopted blockchain ledger technology to track and trace chicken, eggs and tomatoes as they travel from farms to stores.

Under the plan, Carrefour is targeting 5 billion euros ($5.7 billion) in organic food sales by 2022, compared to 1.2 billion generated in 2017. It generated 1.8 billion euros in organic food in 2018, CEO Alexandre Bompard disclosed last week.

Danone is the world's biggest yoghurt company and its CEO Emmanuel Faber has said he wants Danone to play a central role in the new trends sweeping the global food industry. Faber is also a member of Carrefour's food advisory committee.

$1 = 0.8743 euros Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta

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