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“Exports of rice account for 77% of total trade”
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Monday, 13 January, 2025, 08 : 00 AM [IST]
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 DRRK Foods is one of the top rice brands in India. With a focus on delivering premium products, its flagship brand, Crown Rice is catering to both retail segments and the HoReCa (Hotel, Restaurant, and Catering) sector, while bringing Indian grain to an international audience.
Vikram Marwaha, joint MD, DRRK Foods, in an email interaction with Ashwani Maindola, explains the company's domestic presence, export market and future plans. Excerpts:
What is the overall situation of rice trade in the country, and how do you see the growth trajectory in the coming years?
The overall situation of rice trade in the country is thriving every day, with the country expected to produce 137.83 million metric tonne in 2023-2024, contributing 26% to global production. This robust growth is led by increasing domestic demand and strong exports, especially for premium rice varieties like basmati rice. Additionally, on a global scale, the rice-based products market was valued at $32 billion in 2022 and is projected to expand at a 5.3% CAGR through 2030, fueled by increasing demand for gluten-free and organic options and rising awareness of rice’s health benefits.
How do you maintain safety and quality in production?
We ensure safety and quality in production by implementing rigorous quality check control systems throughout the manufacturing process. The company follows strict guidelines and international standards to maintain consistency in product quality. Regular audits, inspections, and testing are conducted at every stage to detect any discrepancies. We also prioritise the use of safe measures and maintain a focus on worker safety by adhering to all relevant health and safety regulations. This commitment to excellence helps deliver high-quality products while ensuring a safe environment for both employees and consumers.
How has been the financial growth of the company, and what are the future goals?
The company's financial growth has been consistently strong, with revenue increasing from ?521.16 crore in 2020 to ?858.33 crore in 2023, showcasing steady progress. Soon, we are set to reach ?1,000 crore in revenue from our export markets. This milestone will enhance our international footprint, particularly in Europe, America, Africa, and Canada, to drive future growth and strengthen its global brand presence.
How are exports, and do you fear restriction of some kind of rice export may hurt trade? Can you also elaborate on the revenue generated by exports of rice?
Exports of rice have been strong, accounting for 77% of the company's total trade. The recent removal of export curbs has significantly improved the situation, providing greater opportunities in global markets. While there were concerns that restrictions could impact trade, the easing of these measures has helped stabilise the export landscape. As a result, revenue generated from rice exports continues to grow, contributing significantly to the overall financial performance.
Do you see a need for enhanced production, and how are you accommodating such requirements?
Yes, there is a growing need for enhanced production to meet the increasing demand, both domestically and internationally. To accommodate this, the company is investing in advanced technology and expanding production capacities. We are also optimising our supply chain and improving operational efficiency to ensure that we can scale up production without compromising quality. Additionally, we are exploring new markets and diversifying our product range to stay ahead of demand trends, ensuring that we can meet future requirements effectively.
What are your plans for increasing consumer reach?
To increase consumer reach, the company has strategically partnered with quick commerce platforms like Zepto, Swiggy Instamart, and Blinkit. These platforms enable us to provide fast, convenient delivery, particularly catering to the growing demand in urban areas. By tapping into the quick commerce space, we are enhancing product accessibility, ensuring that our offerings are just a few clicks away from consumers. This initiative is a key part of our growth strategy, allowing us to meet evolving customer expectations and expand our presence in the market.
What are your sustainability goals?
Sustainability is integral to our rice production practices. We collaborate with our farming partners to adopt resource-efficient methods that enhance soil health and reduce environmental impact. Our approach focuses on efficient water use, minimising the reliance on chemicals, and improving farming techniques to promote long-term productivity. We also prioritise optimising energy consumption in our milling processes and reducing waste. These initiatives are part of our commitment to maintaining sustainable operations while delivering high-quality rice to our consumers.
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