Thursday, Apr 25 2024 | Time 18:20 Hrs(IST)
image
Business EconomyPosted at: Jan 20 2018 4:47PM


Indian Basmati rice exporters negotiates mega deals with gulf countries

New Delhi, Jan 20 (UNI) Indian exporters have negotiated mega deals that will boost shipment of Indian basmati and non-basmati rice to Gulf countries like Oman, Iraq, Qatar and Saudi Arabia.
According to Trade Promotion Council of India (TPCI) Chairman Mohit Singla, “Pakistan is one of the biggest exporter of rice to Oman Sovereign Public Food Reserve at 1.8 lakh ton, while India’s share is just 20,000 ton. But in 2018 India’s share will jump to 50,000 ton.”
In a press release he said that Oman’s public food stockholding company has decided to buy basmati rice from Indian companies, which will include ‘1121’ premium variety of basmati rice developed in India in their official list of tender items.
“This is one of the major achievements of Indus Food – the two-day international food and beverage expo which concluded at India Expo Mart, Greater Noida on Friday. Indian exporters were able to get orders worth over 500 million dollar during the event, while business negotiations with potential to generate food exports worth 2 billion dollar were initiated at Indus Food,” he said.
Mr Singla said at more than 5,300 B2B meetings that took place at Indus Food which got massive response from foreign buyers as well as India exporters and supplier. As a result, more than 15 countries have already expressed desire to participate in the next edition of Indus Food. At least 50 global retail chains were at Indus Food to look for potential suppliers from India.
He added that global market of Indian ethnic food is growing at fast pace so all major global food retailers were here to source Indian ethnic food. Indus Food saw 18 bilateral meeting taking place between India officials and their foreign counterparts.
Jointly organized by Ministry of Commerce and Industry and TPCI, Indus Food saw participation from almost 400 exhibitors, including representations from over 12 states and Departments, and global buyers from 43 nations.
Mr. Singla also said other highlights of Indus Food include Qatar reporting 123 million dollar business negotiations, while an MoU was signed by a Saudi Arabian company to buy soyabean oil meal (animal feed) and fish feed worth 50 million dollar from India.
Similarly, in a first-of-its-kind initiative, Iraq’s Grain Board has decided to float an open tender to buy up to 1-lakh tons of non-basmati rice from India along with acceptance to buy wheat from the government companies, he said.
“Indus Food will also help in finding new market for Indian tea. For instance, Indian Tea Association has signed an MoU with its Malaysian counterpart to supply premium quality Indian tea across various price range to Malaysia which is a tea-drinking country. Till now China had dominant market share in Malaysian tea market, but now Indian tea will soon flood the Malaysian market. Similarly, for the first time Iraq and Syria will have direct supplies of Indian tea,” said Mr Singla.
UNI ADP SHK 1646
Please log in to get detailed story.
Tags: #Indian Basmati rice exporters negotiates mega deals with gulf countries
More News

Godrej & Boyce contributes to India’s energy transition initiatives; Undertakes orders worth 1000 Cr plus in FY’24

25 Apr 2024 | 5:58 PM

Mumbai, Apr 25 (UNI) Godrej Electricals & Electronics, a business unit of Godrej & Boyce, has announced the acquisition of orders worth Rs 1000 Cr plus in FY24 for their Power Infrastructure business.

see more..
Sensex surges 486 50 pts

Sensex surges 486 50 pts

25 Apr 2024 | 5:10 PM

Mumbai, April 25 (UNI) Extending its winning streak for the fifth consecutive day in a row, the BSE Sensex rallied 486.50 points to close high at 74,339.44 on the strength of services, metal, power, and auto stocks amid a strong Asian market.

see more..

Rupee ends flat at 83 32 against USD

25 Apr 2024 | 4:50 PM

Mumbai, April 25 (UNI) The rupee on Thursday ended steady at 83.32 against the USD on selling US dollars by bankers and exporters, dealers at the foreign exchange said.

see more..

Shree Cement joins RE100

25 Apr 2024 | 4:32 PM

Mumbai, Apr 25 (UNI) Shree Cement, one of India's largest cement producers with an installed capacity of over 56 MTPA, has announced its membership in the esteemed RE100 initiative, a global initiative led by Climate Group, advocating for businesses to convert to 100 per cent renewable electricity for all their operations.

see more..

Vedanta net down 27 pc in Q4

25 Apr 2024 | 4:26 PM

Mumbai, Apr 25 (UNI) Indian mining company Vedanta, with its operations in iron ore, aluminium, zinc, oil and gas, on Thursday reported 27 per cent dip in net profit at Rs 2,273 crore for the fourth quarter (January-March) of FY 24 from Rs 3,132 crore in same period a year ago.

see more..
image