Radikal targets Rs 1,000 cr turnover this year

Chennai:

Delhi-based basmati exporter Radikal Overseas is targeting Rs 1,000 crore turnover this year besides expanding its overseas market.

Addressing reporters here, Uday Y Nayak, Radikal’s senior general manager, sales and marketing said that Radikal, which exports basmati rice to 50 countries, plans to tap markets in African, Iran, Iraq and other nations.

Interestingly, the group’s 75 per cent revenue comes from exports and rest from domestic market.

He also said that rice has become costlier by about 40 per cent this year. Nayak said that one kg of 1121 variety which is being procured at Rs 87 per KG is being sold at Rs 170.

He said that there has been increasing health concern and considerable debate on rice. However, he rejected this resulted in the decline in sale of rice.