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King Rice Oil eyes bigger slice of rice bran market

KING RICE OIL GROUP is expanding its production base with the aim of becoming one of the world’s leading producers of rice bran products within five years.

Executive director Pravit Santiwattana said the move was meet the consumer trend to be more healthy.
 He said producing rice bran products would add value to the business through the development of innovative products.
“We will continuously launch new rice bran products to cater to tremendous business opportunities,” Pravit said.
He added that the Bangkok company last year launched rice-bran oil shortening as a pilot product.
“Within the next five years, we aim to become a leading manufacturer of diversified rice bran products supplying the world market,” he said.
“We want to increase our annual sales from Bt6 billion posted last year to about Bt8.5 billion in the next five years.
“The growth will be driven mainly by the launch of more value-added rice bran products continuously onto markets.”
Pravit said the company was developing a toxic-free wax for fruit coating that was made from rice bran.
He added that the company would invest more than Bt20 million per annum for research and development for rice bran products.
Pravit said the company would focus in positioning its oil and non-oil rice bran products in the premium segment, which grew 25 per cent last year despite the slowdown in the economy.
He said this resulted from more consumers buying premium cooking oil and related rice bran products because of the health benefits.
“For this year, we expect our sales to grow only slightly from the Bt6 billion last year due to economic difficulties,” he said.
Forty per cent of the company’s sales come from exports, 30 per cent from the sale of rice bran oil and non-oil products to households and food vendors, and the rest from the supply of products to the local food industry.

Published : September 08, 2016


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