Chennai, April 17 (IANS) New Delhi-based basmati rice exporter Radikal Overseas is targeting a turnover of Rs.1,000 crore this fiscal, looking at new markets in Africa, Iran, Iraq and other countries, said a senior official here Wednesday.
“We are exporting basmati rice to over 50 countries and plan to increase that number by looking at Africa, Iran, Iraq and other nations,” Uday Y. Nayak, senior general manager, sales and marketing, told reporters here Wednesday.
According to him, 75 percent of the company’s revenue of Rs.600 crore is contributed by exports, and the balance by the domestic market.
Cagey about sharing company’s sales volume, Nayak said the blended realisation (full and broken rice) is around Rs.60/kg.
Speaking about plans for the domestic market, Nayak said the company would expand into tier 2/3 cities as it already has good presence in modern and traditional retail outlets in major Indian cities.
He said the company would also enter the market with a new range of food products.