Sarveshwar Foods’ subsidiary secures 12,000 MT order for rice, eyes Rs 2000 million annual revenue
Sarveshwar Foods Limited’s Singapore subsidiary, Green Point Pte. Ltd., secured a 12,000 MT premium rice order worth ₹445 million from Monarda Commodities. This aligns with Green Point’s Rs. 2,000 million annual revenue target and Sarveshwar’s broader goal of Rs. 10,000 million for FY 2024. Positioned to meet rising global demand for gluten-free, high-quality rice, the order strengthens Sarveshwar’s international footprint.
Sarveshwar Foods Limited (SFL), a prominent player in the rice industry, has announced an achievement by its wholly-owned Singapore subsidiary, Green Point Pte. Ltd. The subsidiary has secured an order of 12,000 metric tons (MT) of premium Indian Long Grain Parboiled Rice from Monarda Commodities Pte. Ltd., an international trade entity. The total value of the order is approximately ₹445 million (Rs. 44.5 Crores), marking a major step in Sarveshwar Foods’ ongoing efforts to strengthen its global business footprint.
This order is part of Green Point’s strategy to capture a larger share of the rapidly growing global market for rice and rice-based products. With a strong focus on high-quality rice exports, the subsidiary aims to generate Rs. 2,000 million in annual revenue. The order aligns with Sarveshwar Foods’ broader target of achieving a total revenue of Rs. 10,000 million (Rs. 1,000 Crores) for the current fiscal year, driven by both domestic and international market expansion.
Green Point Pte. Ltd., based in Singapore, serves as a strategic gateway to the global rice market. The order is expected to be fulfilled by the end of December 2024, showcasing the company’s ability to meet international demand for Indian rice. The global rice market, particularly rice-based products, is poised for substantial growth, with projections estimating it will expand from USD 226.36 billion in 2023 to USD 361.41 billion by 2031. This growth is being driven by increasing demand for gluten-free, health-conscious food products.
Mr. Rohit Gupta, Chairman of Sarveshwar Group, expressed his excitement about the order, stating, “We are thrilled about this major development and the promising future for Green Point’s contribution to our global business. With the increasing global demand for high-quality, gluten-free rice products, we are confident that we will achieve our Rs. 2,000 million revenue target for Green Point this year and continue to strengthen our position in the global rice export industry.”
The company has also outlined its long-term commitment to expanding its business and leveraging emerging market trends to drive growth. Sarveshwar Foods is poised to capitalize on the rising preference for rice-based, gluten-free diets, positioning itself as a leader in the global rice export market.
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Source Link : Business UpTurn
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