Sarveshwar Foods Signs MoU for 500MT Mushkbudji Rice Procurement
Filing Summary
Sarveshwar Foods Limited has entered into a Memorandum of Understanding (MoU) with Sagam Mushkbudji Farmer Producer Company and the Indian Rice Exporters Federation (IREF) to procure 500 Metric Tons of Mushkbudji rice. The agreement, valued at approximately INR 7.5 crore, aims to enhance the distribution of this aromatic rice across India. The collaboration focuses on establishing a framework for procurement, ensuring product quality, and strengthening the supply chain. This initiative is designed to benefit Mushkbudji rice farmers in Jammu and Kashmir by providing fair pricing and market access.
Sarveshwar Foods Limited has announced a strategic agreement with Sagam Mushkbudji Farmer Producer Company and the Indian Rice Exporters Federation (IREF) to enhance the procurement and distribution of Mushkbudji rice. The agreement, formalized through a Memorandum of Understanding (MoU), focuses on the procurement of 500 Metric Tons of this aromatic rice variety from Jammu and Kashmir. The initiative is valued at approximately INR 7.5 crore and aims to distribute the rice across India.
The financial terms of the agreement specify a potential procurement of 500 Metric Tons of Mushkbudji rice, with an estimated value of INR 7.5 crore. This procurement is intended to meet the growing demand for high-quality rice within the domestic market. The MoU outlines the mutual intention of the parties to explore commercial arrangements that ensure fair pricing for farmers and consistent product quality.
The operational scope of the agreement includes establishing a framework for cooperation and discussion regarding the procurement of Mushkbudji rice. The MoU sets out product quality expectations and specifications necessary for future definitive agreements. It also aims to strengthen the supply chain, directly benefiting the farmers represented by the Sagam Mushkbudji Farmer Producer Company.
The timeline for the implementation of this agreement has not been explicitly detailed in the filing. However, the MoU signifies a strategic intent to formalize future commercial transactions, indicating ongoing discussions and potential future agreements to facilitate the procurement process.
The parties involved in this agreement include Sarveshwar Foods Limited, Sagam Mushkbudji Farmer Producer Company, and the Indian Rice Exporters Federation. Sarveshwar Foods is responsible for the procurement and distribution of the rice, while Sagam Mushkbudji Farmer Producer Company represents the growers of Mushkbudji rice in Jammu and Kashmir. IREF, as the apex body of rice exporters, plays a role in promoting the rice variety and facilitating its distribution.
The market context for this agreement highlights the significance of Mushkbudji rice, a premium aromatic rice variety from Jammu and Kashmir. The collaboration aims to enhance the distribution of this rice across India, providing a structured framework for procurement and ensuring fair pricing for farmers. The initiative is aligned with the strategic objectives of Sarveshwar Foods to expand its reach in the domestic market and strengthen its supply chain.
Sagam Mushkbudji Farmer Producer Company works to organize and empower farmers involved in the cultivation of Mushkbudji rice in the Anantnag district of Jammu and Kashmir. The company aims to provide stability and market access for farmers, ensuring that their unique produce reaches consumers across India.
Sarveshwar Foods Limited is engaged in the manufacturing, trading, processing, and marketing of branded and un-branded basmati and non-basmati rice. The company operates in both domestic and international markets, with a focus on quality products from Jammu and Kashmir. Sarveshwar Foods is committed to promoting the agricultural wealth of the region and expanding its product offerings through strategic collaborations and partnerships.