KRBL enters organic rice biz

Chennai: KRBL, a Rs 1007 crore exporter and domestic seller of Basmati rice based in Delhi, has entered the organic segment by launching organic basmati rice in Tamil Nadu, where the company has the largest market share of 70%.

The state contributes to only 15% of its domestic business, though. KRBL has been involved in contract farming of organic rice in 3000 acres of land in Haridwar for the past three years, but has been able to market it only now as rice is certified truly organic only after it has crossed 3 crops.

"We expect to sell 300 tonnes of organic Basmati, fetching revenues of Rs.3 crore in our first year," KRBL JMD Anoop K Gupta said.