Mishtann Foods Limited, one of India’s leading FMCG company with primary focus on various types of rice, is taking proactive measures to address the current surge in rice prices across Asia. As importers rush to stockpile rice due to fears of crop damage from the onset of El Niño, Mishtann Foods is committed to ensuring the availability of premium rice products while emphasizing food security and sustainable agricultural practices. Earlier, as per disclosure data available on BSE, Mr. Hiteshkumar Patel, Director & Promoter of the company, purchased 482299 shares through market purchase on 23 June 2023.
According to recent data from the Thai Rice Exporters Association, the benchmark grade of Thai white rice, 5% broken, has experienced a significant surge of approximately 15% over the past four months, reaching $535 per ton, the highest level since early March 2021. The World Meteorological Organization has confirmed the development of El Niño conditions in the tropical Pacific after a seven-year gap, posing a serious threat of drought to Southeast Asia. This alarming situation coincides with record-breaking global temperatures, further intensifying concerns about the urgency of climate change.
“Amidst the challenges posed by El Niño and the escalating concerns of climate change, Mishtann Foods remains steadfast in its commitment to provide superior rice products to our customers,” said Mr. Hiteshkumar Patel, MD & Chairperson, Mishtann Foods Ltd. “We recognize the importance of ensuring food security, both locally and globally, and our efforts are focused on sustainable agricultural practices to mitigate the impact of changing weather patterns. We are dedicated to not only meeting the rising demand for rice but also contributing to the long-term well-being of our environment.”
As an FMCG company deeply rooted in India, Mishtann Foods has been a frontrunner in the rice industry, consistently delivering excellence through its diverse range of rice varieties. The company’s rigorous quality control measures, innovative farming techniques, and sustainable supply chain have positioned it as a trusted and responsible choice for consumers worldwide.
In the face of rising rice prices and climate-related challenges, Mishtann continues to prioritize food security, support local farmers, and foster sustainable agricultural practices. By ensuring a stable supply of high-quality rice, the company aims to alleviate concerns surrounding food availability and contribute to a more resilient and sustainable future.
Mishtann Foods Limited (BSE: 539594) is India’s leading FMCG company with primary focus on various types of Basmati rice. The company also has a sizeable presence in wheat and pulses segment. Mishtann Foods’ 100,000 metric tonne per annum rice processing facility is strategically located near Ahmedabad in Gujarat, India, in a close proximity to port giving the company cost advantage for the export market. Mishtann’s wider product portfolio of Basmati rice includes Raw, Sella and Steam that cater to wider customer segment in wholesale as well as retail. The company offers a wide range of agricultural products, including rice, wheat, spices, and pulses. All of its products are grown using environmentally friendly farming practices and carefully processed and packaged to preserve their freshness and nutritional value. Mishtann Foods is committed to sustainable agriculture and environmental conservation. It works closely with local farmers, providing them with training and support in eco-friendly farming practices and encouraging them to adopt sustainable methods of agriculture. Mishtann has relentlessly worked to support and encourage farmers to adopt the latest farming techniques. It is a matter of immense pride that the company sources its grains from some of the best Basmati growing farms in the region.
