PNN

Srinagar (Jammu & Kashmir) [India], November 6: Sarveshwar Foods Limited's (SARVESHWAR | BSE: 543688 | INE324X01026), Singapore-based unit - Green Point Pte. Ltd., today announced the signing of a strategic Memorandum of Understanding (MoU) with the Indian Rice Exporters Federation (IREF). This collaboration marks a significant step towards expanding SFL's footprint and ensuring a consistent supply of premium Indian rice in global markets.

Also Read | Anunay Sood's Girlfriend Shivani Parihar Shares Heartbreaking Tribute After His Sudden Death - a Look Back at His Past Engagement With Influencer Brinda Sharma and His Journey in Love and Life (View Post).

Under the terms of the MoU, both parties have expressed their intent to explore commercial arrangements for the procurement and export of 50,000 Metric Tons (MT) of Indian rice. This procurement is valued at approximately USD 19.8 million (Rs 173.9 crores) on a Cost and Freight (CFR) basis.

The proposed export order reflects the growing international demand for high-quality Indian rice and includes:

Also Read | 'Bigg Boss Malayalam 7' Grand Finale: THESE 7 Contestants Battle It Out for the Winner's Trophy on Mohanlal-Hosted Reality Show!.

* Indian Parboiled Rice: 40,000 Metric Tons* Indian White Rice: 10,000 Metric TonsThe shipments are intended for key global destinations, including the UAE, Saudi Arabia, Iraq, the USA, Cote d'Ivoire, China, the UK, Benin, South Africa, Senegal, Kenya, Cameroon, and the Netherlands, highlighting the growing international demand for high-quality Indian rice.

The MoU outlines mutual intentions regarding product quality, due diligence, compliance with export-import regulations, and good-faith consultations for future definitive agreements.

Speaking on the occasion, Mr. Rohit Gupta, Chairman of Sarveshwar Foods Limited:

"We are pleased to collaborate with IREF to ensure consistent supply of premium Indian rice to our international clientele. India's expertise in rice cultivation and processing aligns perfectly with our vision to serve diverse global markets."

(ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same.)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)