Rice firm Amira Nature Foods has entered the South Korean market with a deal to supply Indian rice to an unnamed customer in the country.
Amira has entered into an US$8m deal to supply Indian medium short grain speciality rice. The company did not disclose the details of the customer.
“Our team is intently focused on our key growth initiative to expand into new geographies, and this South Korean customer is an example of the vast opportunity for the future growth of Amira’s third party branded products and our Amira branded products in these geographies,” Amira chairman and CEO Karan Chanana said.
The $8m of revenue under the contract is expected to be recognised in the first and second quarter of Amira’s fiscal year ending 31 March 2014, it said.