Best Foods has announced its plans to expand its market base and share in the South by launching rice-based ready-to-eat products and retail outlets soon.
Addressing a press conference here on Monday, Business Director of the company Aayushman Gupta said that the company was evaluating the market to launch ready-to-eat products with nutritional content as its USP (unique selling proposition). Based on the trend of increasing demand for one-kg and five-kg packed regular fine rice it was planning to sell them through retail outlets.
The company had only been labelling for major retail chains so far but with the launch its brand of one-kg and five-kg packs of regular rice (two varieties) and basmati rice (three varieties) it was planning to increase its market share. However, its focus for Andhra Pradesh would remain on B2B (business to business) orders, supplies to hotels, retail malls and biryani centres for the time being. Besides, it was engaged in exporting rice to over 50 countries and 75 per cent of its turnover was achieved from it. Mr. Gupta said rice consumption in the country was 85-90 million tonnes a year with 8-10 per cent of it being basmati. But, the market for basmati was growing by about 25-30 per cent annually, he said.
