Ruchi Soya Industrries - Quote on Positive Monsoon forecast by IMD

Author(s): 

"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.

Date: 
Friday, May 12, 2017