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Phoenix looks to India to feed Africa as part of rice expansion

Phoenix, which began as a rice trader in 2000, expects to generate $1.3 billion in annual rice sales over the next three to five years, says Gaurav Dhawan

Supunnabul Suwannakij | Bloomberg 

Food and resources company Phoenix Commodities will buy more rice from India as it expands its business in Africa to meet increasing demand.   The company wants to boost its rice trading volumes to between 2 million tonnes and 2.2 million tonnes over the next three to four years, Chairman Gaurav Dhawan said in a phone interview. That compares with 1.5 million tonnes this year. The company says it is already one of the top three rice traders globally.   Increasing incomes and changing food habits in Africa have created an opportunity for the company to increase sales of its ...

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First Published: Sun, December 10 2017. 01:25 IST
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