Olam Reinforces Position As Largest Local Rice Investor | Independent Newspapers Limited
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Olam Reinforces Position As Largest Local Rice Investor

Posted: Jul 1, 2015 at 2:44 am   /   by   /   comments (0)

By Phillip Oladunjoye,  Lagos


Olam Nigeria has said that its Nigerian rice brand has been well accepted in the country.

The company said its Mama’s Pride and Chef’s Choice brands of rice dominated its one day event at the Rice Trade Fair, held in Kano recently, saying that the brands were so well received that they sold over 125 bags at the one-day fair.

Head Corporate and Government Relations, Olam Nigeria, Ade Adefeko, while expressing pleasure at the outcome of the fair said: “We are pleased with the outcome of the fair. We call for more of such activities to help boost rice production, increase awareness and improve patronage of Nigerian brands of rice.”

On the acceptance of his company’s brand of locally produced rice brands, he said, ‘as per our brands, generally, people love Mama’s Pride because of its packaging, grain length and brightness.’

Adefeko said that his company’s impressive showing at the fair was possible because Olam Nigeria had made huge investments in Agriculture, particularly in local rice production. “We have a 19 billion naira 10,000 hectare farm and mechanized mill with a capacity to produce 36,000 metric tonnes of milled rice in Rukubi Nasarawa State and outgrower programme, which currently employs about 3,000 farmers.”

He assured that his company will continue to support more farmers with training, pre-finance and agri-inputs to improve their paddy yield. “Our target is about 16,000 farmers by 2018 so as to sustain our leadership status in the rice value chain sphere,” Adefeko said.


The organizers of the event were equally happy with the outcome particularly the active participation of local players led by Olam Nigeria.


The primary organiser, represented by Team Leader, Growth and Employment in States Program, Tunde Oderinde, said, “Olam Nigeria has reinforced its position as the biggest local rice player in the country with an investment outlay in billions of naira as it had the most coordinated and attractive stand at the trade fair. The outcome of the fair gives hope for local rice production and packaging because there is noticeable enthusiasm both from farmers, millers and consumers.”


Similarly, the Managing Director/Chief Executive Officer, Bank of Industry, Rasheed Olaoluwa, who graced the event as Special Guest, observed that the quality of the fair was remarkable, given that the local rice industry is yet at a developmental stage.


He noted that the firm commitment of conglomerates like Olam Nigeria to the development of the rice industry in Nigeria is encouraging.


“From what Olam Nigeria demonstrated at this fair, the level and quality of investment made by the company is an indicator that Nigeria can look to the future with optimism as far as the rice industry is concerned,” he said.