GRM Overseas Ltd receives 1st Government order from Oman to supply premium basmati rice

GRM Overseas Limited (GRM) has received its first order from the Ministry of Agricultural, Fisheries Wealth & Water Resources, Sultanate of Oman, to supply 4,500 MT of Premium basmati rice. The order is worth Indian Rupees 465 million.

The Govt. entities in MENA region opens a significant target market for GRM Overseas with approx total size of 7,00,000 MT + import of Basmati Rice.

MENA region is the largest importer of Basmati Rice, having a lion's share ~78% of the total exports from India in FY23, while Europe contributes 6.9% and USA + Canada contribute 6.6% (FY23). GRM Overseas has positioned itself strategically, as 95% of its export business is to the MENA region and has established itself as among the top 5 Basmati Rice exporters in MENA region.

Managing Director's Mr. Atul Garg Comments: "We are thrilled to have received this maiden order from the Sultanate of Oman, one of the largest consumers of Indian basmati rice. This signifies Oman's recognition of the quality of our basmati rice and its growing demand in the country. We see this order as a gateway to regular business opportunities in the Middle East, the largest consumer region of basmati rice. We look forward to further strengthening our presence in this region and diversifying our business."

Source : Equity Bulls

Keywords

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