Speaking to CNBC-TV18, Gurnam Arora, Joint MD of Kohinoor Foods said that exports from Iran had stopped since last three months. However, he expects Iran to start importing from India in January.
Basmati rice exports increased by 27 percent from Rs 296 crore to Rs 375 crore and foods sales have increased by 24 percent from Rs 32 crore to Rs 39 crore said Gurnam Arora of Kohinoor Foods.
Gurnam Arora, Joint Md, Kohinoor Foods is confident of achieving FY15 projected revenues of Rs 1500 crore and more.
Soaring basmati prices dont auger well for us because we may not be able pass high price to key export markets like Iran, says Gurnam Arora, Joint MD, Kohinoor Foods.
In an interview to CNBC-TV18, Gurnam Arora, Joint MD, Kohinoor Foods is confident that the company will see15-20 percent higher crops on back of good monsoon.
Gurnam Arora, JT MD, Kohinoor Foods,speaks to CNBC-TV18 about the impact on the export of Basmati rice in the US due to residual pesticides being found in the samples. The US authorities have issued an import alert and a detailed scrutiny of every grain is taking place
With expectations of basmati export touching about 3 million tonne and export of non-basmati another 5-6 million tonne, Gurnam Arora, joint MD of Kohinoor Foods informs that India will be the largest export of rice in the continent.
Yesterday, an Empowered Group of Ministers (EGoM) allowed export of non-basmati rice up to four million tonnes. In an interview to CNBC-TV18, Gurnam Arora, joint managing director of Kohinoor Foods says, EGoM decision will aid exports.
In an interview to CNBC-TV18, Gurnam Arora, joint managing director of Kohinoor Foods says, the sector has requested the government to abolish minimum export price (MEP) because it is not required now. “The export is hampered because of the MEP,” he adds.
Gurnam Arora, joint managing director of Kohinoor Foods, in an interview to CNBC-TV18, said that the government’s approval on non-basmati exports have put a cap on rising food prices.
The rice stocks have been quite active today. They have been doing very well in trade. Anil Mittal, CMD of KRBL and Gurnam Arora, Joint MD of Kohinoor Foods, in an interview with CNBC-TV18's Anuj Singhal and Sonia Shenoy, gave their perspective on the rice stocks and how the are expected to do going forward.