The positive monsoon forecast by the IMD is a big boost for agriculture and overall economic growth. Coming on the back of four years of difficult conditions, this can be the turning point to jumpstart Indian economy.
Please find below a quote from Dinesh Shahra, Founder & Managing Director, Ruchi Soya Industries Ltd. that may be used for any story on the above
"It was not just farmers but the whole country that heaved a sigh of relief after the India Meteorological Department forecast higher monsoon rainfall than previously forecast after concern over the El Nino weather condition eased. Coming after floods in 2013, back to back failure of the monsoons in 2014 and 2015 as well as erratic monsoon in 2016, the hope of a higher monsoon rainfall comes a big positive for the agri sector that had all the cards stacked against it for the last four years. For the oilseeds sectors, this comes at just the right time. With crushing capacities lying idle due to shortage of raw material, a normal rainfall would ensure supply and come as a lifeline for the oilseed extraction industry. This will help us to utilize our capacities for crushing and refining to optimal levels and we look forward to a year of good growth in our edible oil operations." - Dinesh Shahra, Founder & Managing Director, Ruchi Soya Industries Ltd.
About RUCHI SOYA INDUSTRIES LIMITED
Ruchi Soya is India’s leading Agri and Food FMCG company with a turnover of USD 4 billion. It enjoys Number 1 position in cooking oil and soy foods categories of the country. Its leading brands include Nutrela, Mahakosh, Sunrich, Ruchi Star and Ruchi Gold. An integrated player from farm to fork; Ruchi Soya is also among the pioneers of oil palm plantations in India. It is one of the highest exporters of value added soybean products like soy meal, textured soy protein and soy lecithin. Ruchi Soya has also diversified into renewable energy and is committed to environmental protection.
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