According to the statement issued by M/S KRBL Limited among the world’s largest rice millers and Basmati rice exporters has planned to boost its operations across the Middle East region, particularly in the GCC .The company, owners of the flagship brand India Gate basmati rice has set their aims to achieve its goals by focusing on strengthening ties with local partners and expanding its distributor network accordingly. Further, in this matter, the KRBL Limited recorded total export revenue of $203.48 million for the year 2014-15, as revealed its long-term business strategy to grow this business by 75 per cent over the next five years.
Recently, it has been observed that the rice consumption in the Middle East is continuously increasing, thus enabling expansion of the rice market, especially the Basmati rice segment. Further, the Director of KRBL Limited Ms Pryanka Mittal informed that the total consumption in the Middle East is about 3 million metric tonnes and KRBL is targeting around 25 per cent of this volume owning to its large milling capacity of 1.2 million metric tonnes. Thus, the Gulfood exhibition is an important trade fair for KRBL with Middle East being our biggest market outside India. Today, 85 per cent of our total export revenue comes from the Middle East as it was narrated.
In view of a truly global population and changing demographics, this region offers a huge potential for growth and we would like to capitalize on this opportunity. At KRBL, we have the capacity and the infrastructure to support this growth. Our marketing strategy towards achieving this is to offer a product basket that caters to all consumer levels according to the Director of KRBL Furthermore, the KRBL adopts a basket approach to brand introduction and new products are being launched after due diligence, feedback from market distributors and an in-depth understanding of consumer needs. The company also recently forayed into the value segment by introducing the Bab Al Hind brand in UAE, and launching the Nurjahan brand in Qatar, Bahrain and Oman.
Meanwhile, the Indian basmati rice continues to enjoy robust growth in Arab markets and we are committed to rolling out other brands depending on the size of the opportunity and our ability to cater to demand. Due to well organized a distributor network and well-positioned to deliver on current growth targets, the company’s long-term business goals focus on new conversions and spurring brand growth through trail generation. In addition, the future plans of KRBL also include tapping into potential markets such as Turkey, Azerbaijan, Georgia, Kazakhstan, and Yemen, as it was told.