By Staff writer
KRBL Limited announces plans to boost its operations across the Gulf by focusing on strengthened ties with local partners
KRBL Limited, the world's largest rice millers and Basmati rice exporters, has announced plans to boost its operations across the Gulf by focusing on strengthened ties with local partners and expanding its distributor network.
The company, which recorded a total export revenue of $203.48 million for the year 2014-15, said its long-term business strategy is to grow this business by 75 percent over the next five years.
Rice consumption in the Middle East is continuously increasing, thus enabling expansion of the rice market, especially the Basmati rice segment, the company said in a statement.
"The total consumption in the Middle East is about 3 million metric tonnes, and KRBL is targeting around 25 percent of this volume owing to its large milling capacity of 1.2 million metric tonnes," said Priyanka Mittal, director of KRBL Limited.
"Today, 85 percent of our total export revenue comes from the Middle East. With a truly global population and changing demographics, this region offers a huge potential for growth, and we want to capitalize on this opportunity."
She added: "While Indian basmati rice continues to enjoy robust growth in Arab markets, we are committed to rolling out other brands depending on the size of the opportunity and our ability to cater to demand."
KRBL said future plans include tapping into potential markets such as Turkey, Azerbaijan, Georgia, Kazakhstan, and Yemen.
The company's flagship brand, India Gate Basmati Rice, is the largest selling basmati brand in India and across the world and is exported to 74 countries.