PNN
Srinagar (Jammu & Kashmir) [India], November 6: Sarveshwar Foods Limited's (SARVESHWAR | BSE: 543688 | INE324X01026), Singapore-based unit - Green Point Pte. Ltd., today announced the signing of a strategic Memorandum of Understanding (MoU) with the Indian Rice Exporters Federation (IREF). This collaboration marks a significant step towards expanding SFL's footprint and ensuring a consistent supply of premium Indian rice in global markets.
Under the terms of the MoU, both parties have expressed their intent to explore commercial arrangements for the procurement and export of 50,000 Metric Tons (MT) of Indian rice. This procurement is valued at approximately USD 19.8 million (Rs 173.9 crores) on a Cost and Freight (CFR) basis.
The proposed export order reflects the growing international demand for high-quality Indian rice and includes:
* Indian Parboiled Rice: 40,000 Metric Tons
* Indian White Rice: 10,000 Metric Tons
The shipments are intended for key global destinations, including the UAE, Saudi Arabia, Iraq, the USA, Cote d'Ivoire, China, the UK, Benin, South Africa, Senegal, Kenya, Cameroon, and the Netherlands, highlighting the growing international demand for high-quality Indian rice.
The MoU outlines mutual intentions regarding product quality, due diligence, compliance with export-import regulations, and good-faith consultations for future definitive agreements.
Speaking on the occasion, Mr. Rohit Gupta, Chairman of Sarveshwar Foods Limited:
"We are pleased to collaborate with IREF to ensure consistent supply of premium Indian rice to our international clientele. India's expertise in rice cultivation and processing aligns perfectly with our vision to serve diverse global markets."
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