This rice exporter is planning to enter domestic market in a big way
Deccan Grainz Private Limited, a leading city-based rice exporter, sets up a rice processing unit with a monthly processing capacity of 5,000 metric tonnes in Telangana.
The company is aiming at doubling its export revenues from Rs 50 crore in the last financial year to Rs 100 crore in FY22.
The company is now planning to enter the fast-growing domestic rice market with its premium rice varieties and targets 100 cr revenues from India in the current financial year.
The processing plant, located in TSII General Park, Sultanpur, Sanga Reddy district and ready for inauguration, is equipped with advanced Japanese technology.
The company, which exports its premium quality Sona Masoori and other varieties of rice under the Deccan Rice brand to Europe, the USA, and Australia markets, invested Rs 15 crore on the new plant which will create over 60 direct jobs.
Established in 2012, the company, which procures rice through contract farming and other sources, has exported rice worth Rs 500 crore to various countries so far. Encouraged by the Telangana government's focus on agriculture, Deccan Grainz is also procuring rice from this State.
"I’m glad to take Telangana Sona from the rice bowl of India to global markets," said Kiran Pola, Chairman and Managing Director, Deccan Group.
In FY21, Deccan Grainz exported 10,000 metric tonne rice. "We are aiming 200 cr revenues this financial year as demand for our rice products has increased across the world," said Kiran Pola.
Apart from other varieties, the company also offers premium quality organic and low GI (glycemic index) rice varieties.
A first generation entrepreneur, he has over 25 years of experience in the rice export business starting with the UK and US markets where he established Deccan Imports and Deccan Foods respectively. Deccan Rice is sold across 2,000 outlets in the US alone.
The group which hitherto focused on export markets is gearing up to foray into the domestic market with plans to open experience centres and exclusive outlets of its own and also through franchise route. It will also tie up with e-commerce portals like Bigbasket, Amazon, and Flipkart in India.