PNN
Srinagar (Jammu & Kashmir) [India], November 10: Sarveshwar Foods Limited's (SARVESHWAR | BSE: 543688 | INE324X01026), today announced entering into a tri-party agreement for the procurement and distribution of Mushkbudji Rice - a locally produced aromatic rice.
Following this agreement, Mushkbudji Rice -- the aromatic rice from Jammu & Kashmir -- will now be promoted through a new collaborative initiative. This was announced on the sidelines of BIRC 2025.
Three key entities have signed a Memorandum of Understanding (MoU) to explore commercial arrangements for the procurement and promotion of this prized rice variety. They are: Sagam Mushkbudji Farmer Producer Company (FPC) - representing the growers of Mushkbudji rice in Jammu and Kashmir, Indian Rice Exporters Federation (IREF) - the apex body of rice exporters, and Sarveshwar Foods Ltd, the leading company in the food industry, specialising in quality products from Jammu and Kashmir.
The agreement signifies a strategic intent to formalise future commercial transactions for the procurement of Mushkbudji rice. The Parties recorded a mutual intention to explore potential procurement for a total indicative quantity of 500 Metric Tons (MT), valued at approximately Rs 7.5 Crores, destined for distribution across Pan India.
The primary objectives outlined in the MoU include establishing a framework for good-faith cooperation and discussion regarding the procurement of high-quality Mushkbudji rice, outlining product quality expectations and specifications necessary for future definitive agreements, and strengthening the supply chain, directly benefiting the Mushkbudji rice farmers represented by the Sagam FPC.
Speaking on the occasion, Mr Rohit Gupta, Chairman of Sarveshwar Foods Limited, said, "Sarveshwar Foods is committed to promoting the unique agricultural wealth of Jammu and Kashmir. This MoU formalises our intent to expand the reach of this exquisite rice variety to consumers across the country."
Dr Prem Garg, National President of IREF, stated, "This collaboration is crucial. It connects premium, niche agricultural produce like Mushkbudji directly to established markets, providing fair value to our FPCs and enhancing India's portfolio of speciality rice exports."
The Authorised Signatory for Sagam Mushkbudji, Mr Shabir Ahmad Baba, welcomed the initiative: "This arrangement opens a huge opportunity for our farmers. It provides stability and confidence that our unique produce will find the market it deserves."
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