Deals29 Apr 2024, 07:44 pm
GRM Overseas Secures First Government Order from Oman Worth INR 465 Million
AI Summary
GRM Overseas Limited (GRM) has announced the receipt of 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, and it signifies a significant opportunity for GRM as the MENA region is the largest importer of Basmati Rice, importing approximately 7,00,000 MT + annually.
Key Highlights
- GRM has received its first order from the Sultanate of Oman worth INR 465 million.
- GRM is among the top 5 Basmati Rice exporters in the MENA region with 95% of its export business.
- The MENA region is the largest importer of Basmati Rice, with an approximate total size of 7,00,000 MT + import.
- GRM has established itself as a consumer staples organisation with brands like ‘10X’, ‘Himalaya River’, and ‘Tanoush’.
- GRM's expansion into the MENA region could lead to regular business opportunities and further market growth.