Capital Rice Co.

, Ltd Background

Thailand is a major exporter of

agricultural products and ranks as the number one
rice exporter in the world. In 1990, Capital Rice
Co. Ltd., one of Thailands largest rice exporters,
became interested in producing organic rice, the
first and only product produced in Thailand
The STC Group1 started its trading business in agricultural products in 1974 with
the establishments in the rice milling industry for over 10 years, had joined forces to start
a tapioca business, beginning with warehousing and gradually expanding into the large
purchasing and trading centre of rice for export.
1977 was a milestone for the STC Group as Capital Rice Co., Ltd., was then
established to operate its rice export business. Since then, the company has enjoyed
satisfactory growth and now is one of the largest rice exporting enterprises in Thailand.
The complexities of the global rice trade, especially with regard to maintaining
quality standards, have encouraged Capital Rice Co. to consistently improve the quality
of its rice. In response to ever growing completion in the market place, the company
invested in the construction of a 47- bin/27,000 ton rice silo as well as a spacious
warehouse with a storage capacity of 300,000 ton, which brought Capital Rice Co.,
recognition as one of the pioneers in the use of silo storage systems. Foe a constant
supply of first quality rice, advanced equipment and modern facilities have been
introduced, and a large wharf is used, which can conveniently accommodate a large
ocean- going vessel for direct and speedy loading.

Appendix A, Page 1

Quality, experience, honesty and prompt service are the major assets of the
company. As the result of the companys concern to improve the quality of rice, the Best
Exporter Award for Agricultural products was conferred on Capital Rice in the year 1987.
Over the years the STC Group has not only increased its production capacity and the
range of its service, but it has also expanded its presence in the international markets. The
corporate philosophy is:
Be responsible to customers.
Treat the staffs as the most important resources.
Recognize our obligation to make a contribution to society

Country Analysis: Singapore

Singapore was founded as a British trading colony in 1819. It joined the Malaysian
Federation in 1963 but separated two years later and became independent. It subsequently
became one of the world's most prosperous countries with strong international trading
links (its port is one of the worlds busiest in terms of tonnage handled) and with per
capita GDP equal to that of the leading nations of Western Europe

Geographic Environment: 2

Appendix B, Page 3

Singapore, which geographic coordinates is 122 N, 103 48 E, located in Southeastern

Asia; it is the islands between Malaysia and Indonesia. Its total area equal 692.7 sq km
and more than 98% is land. It has no land boundaries therefore it easy for our company
ship the product to Singapore by ship which needs
lower cost than other such as airplane The climate is
nearly the same as other Asian countries: tropical;
hot, humid, rainy; two distinct monsoon seasons Northeastern monsoon from December to March
and Southwestern monsoon from June to September;
inter-monsoon - frequent afternoon and early
evening thunderstorms. According to the land use: arable land: 1.64% ; permanent
crops: 0% ; other: 98.36% (2001) we can see that it s a one of advantages for our
company when we export rice to Singapore, because the land use for arable just 1.64%
out of 100% and additionally lowland; gently undulating central plateau contains water
catchments area and nature preserve.

Cultural Environment: 3

Singapore have 4,425,720 (July

2005 est.) many kinds of religion
Buddhist 42.5%, Muslim 14.9%, Taoist
8.5%, Hindu 4%, Catholic 4.8%, other
Christian 9.8%, other 0.7%, none
14.8% (2000 census).Beside that
Singapore is combine from a lot of
ethnic groups Chinese 76.8%, Malay 13.9%, Indian 7.9%, other 1.4% (2000 census).

Appendix B, Page 4

Because of most of Singapore citizen is come from China which have rice is the main
food for daily meal. More over Malaysian, Indian and other also use rice for their meal
(although its not the main food). Therefore, this is also another advantage that encourage
we export rice to Singapore. About literacy, Singapore citizen that from 15 years old and
over can read and write (total population: 92.5%)

Economic Environment: 4
When we are dealing with analyzing the economic environment of our target
market, Singapore, the impact of following factors should be considered:
1. Population:
Population is the most important item to consider when we are going to market a
product. It shows both the market size and its potential. Singapore, which is not a big
nation but a small island country, has population of 4,425,720 (July 2005 est.). This
figure shows that our market is not a wide one. Because it is not a wide market, we can
say that there will be fewer competitors compared to other Asian markets such as China.
And less number of competitors brings larger opportunities to us.
2. Income:
Income is another factor determining the purchasing power of the consumers. It
shows how potential the target market is. Based on the facts found, Singapore has the
purchasing power parity or GDP of $120.9 billion (2004 est.), with GDP per capita of
$27,800 (2004 est.).It is even said that this GDP per capita is equal to those of Big 4 West
European country. It is also listed in the top countries with high GDP. Thus, we can say
that although our market is not a big one, but it is truly a potential one with strong
purchasing power or high income level.

3. Consumption Patterns:

Appendix B, Page 6

Reflecting the information found on consumption patterns of Singaporeans in

2004, it is known that 23.4% is spent on food sector, 3.6% on clothing, and 21.3% on
housing and so on. In the Food sector, 10.3 % is for uncooked food, including rice at the
percentage of 1.9, which is highest among the uncooked food products. Thus, we can
assume that percentage spent on rice is relatively high compared to other uncooked food
products. This means we have high opportunities to make sales according to their
consumption patterns.
4. Economic Stability:
According to the information searched, it is known that Singapore has a highly
developed and successful free market economy with a remarkably open and corruptionfree environment and stable prices condition. It was once in recession stage by downturn
of global economy and the impact of SARS 5 in 2003. After that, the country is
determined to lead to vigorous growth in 2004, with real GDP rising by 8 percent, by far
the economy's best performance since 2000. But, it has a slight rate of inflation of 1.7%
which is not affecting the economic stability severely. From these facts, we can say that
the economy is very well performing with loads of opportunities provided for investors of
both local and foreign.
5. Infrastructure:
Based on the facts found, Singapores communication system is well working
with excellent service of telephone system network. It also has different means of
transportation, such as by air, by car or by ships where by water way is mostly used since
Singapore is a port for trades between other countries around. It also has a high level of
energy production and consumption, amounting to over 30 billion kWh. By relying on
these facts, we can conclude that Singapore has a very well-built infrastructure with
efficient means of communication, easy access of transportation and reliable energy
supply.
6. Social Development:
5

Appendix B, Page 8

To define the social development, we will consider the Physical Quality of Life
Index Singapore by looking at these 3 factors:
1) Life expectancy at birth - 81.62 yrs for total population
2) Infant mortality rate - 2.29 deaths/1,000 live births for total
3) Literacy rate 92.5% of total population
From these facts, we can see that Singaporeans life expectancy is high, infant
mortality rate is low with high literacy rate. Thus, we can conclude that Singaporeans
have high Physical quality of life or in other words, they have high living standards.
7. Regional Economic Integration:
Singapore is a participant in many international organizations around the world,
including ASEAN6 and APEC7. Thus, Thailand, also one of the members of these
organizations, has some positive relationships with Singapore based on their membership
agreements. Therefore, we can say that these conditions provide us with favorable
economic preferences to get into the market without high level of difficulty.
According to the above discussion of impact of each factor, we can conclude that
the economic environment of Singapore is providing us with positive conditions to enter
the market without restraints and restrictions.

Political Environment: 8
To analyze the effect on political environment, we will consider these following
determinants:
1. Intellectual Property Rights
As it is mentioned above in Economic Stability, it is said that Singapore has a
remarkably open and corruption-free environment. The statement shows that investors no
need to fear about Intellectual Property Rights or lack of safety for ownership of property
as in China.
2. Political risk

Appendix B, Page 9
Appendix B, Page 9
8
Appendix B, Page 12
7

There is low level of political risk in Singapore since it has highly-stable political
conditions. Thus, investors no need to worry about ownership risk, operating risk or
transfer risk. Though they are not completely gone, but still exist in some low level, it is
not having significant impact on companys opportunities.
3. Legal differences
In Singapore, English common law system is applied ad the formal legal system.
For Thailand, they also use Civil law system based on the fact of codification. But the
contents of the code are varied as the major legal system of the world. So, we can see
there is a major difference between two countries legal system, which we must aware of
when we are going to enter its market.
4. Trade Barriers
Since our home country and host country are members of ASEAN organization,
trade barriers such as the degree of impact of tariff and trade sanction are low. ASEAN
members agreed upon to reduce tariff on imported goods of other member countries.
Thus, this will be an advantage for us in entering this market.
Thus, due to these factors degree of impact, we can say that the influence of
Political environment on our business is at the moderate level. Anyhow, we can achieve
our goal by making use of opportunities available for us within the market as based on
advantage of being an ASEAN member.

Entry Strategy
Capital Rice Co. should use Direct Exporting strategy to enter to Singapore
market. Capital Rice Co. makes direct contact with company which is an agency
company is located in Singapore. The agency company can be Awards Consolidations
Services Pte Ltd9. Capital Rice Co. and Consolidations Services Pte Ltd should sign the
business contract with duration of 3 years to flexible in any change in policies, economies
in both countries. Moreover, Capital Rice Co. should use foreign sales representatives
rather than foreign distributors because foreign sales representatives do not take title on
the products, they just earn the commission and foreign distributors take title on the
products, earn profit. By that way, Capital Rice Co. can control the selling price also the
market distribution, etc., Rather, sales representatives should have the contracts with
9

http://www.awards.com.sg/

companies that define their commissions, assigned territories, length of agreements and
other detail.
Capital Rice Co. can use many communication tools to interact with intermediaries and
customers such as internet, advertising, sales promotion, etc.
Since the distance between Thailand and Singapore are not so far, Capital Rice
Co. can use the boat instead of airplane or other transportations to reduce the cost.
Moreover, the organic rice can keep for a long time, so the speed of transportation is not
importance. As the result, Capital Rice Co. can reduce the cost to achieve economies of
scale.

Reason of choosing Direct Exporting

The reason that Capital Rice Company chooses Direct Exporting to enter
Singapore market instead of other methods is that Company believes that using local
trading company, Dashmesh Singapore Pte Ltd, as an intermediary is the best decision,
because it is an expert in doing business in Singapore market and they also know very
well about Singapore culture.

SWOT Analysis
SWOT can help you uncover opportunities that you are well placed to take
advantage of. And by understanding your weaknesses, you can manage and eliminate
threats that would otherwise catch you unawares. More than this, by looking at yourself
and your competitors using the SWOT framework, you can start to craft a strategy that
helps you distinguish yourself from your competitors, so that you can compete
successfully in your market.

Strengths:
The organic rice10 of Capital Rice Co. is the only organic rice in Thailand that has
been approach by IFOAM 11
The partners12are all skills in their field, possessing long years of experience in
price production, rice trading and distribution.
The partners are complementary.
Concerns with the regard to health and environmental conversation are well taken
care of.
The high degree of skills and the special production conditions required as an
affective barrier to entry for potential competitors.

Weaknesses:
High development and start-up costs, with regard to R&D, production and market
The product is a commodity and cannot be physically differentiated, which can
easily lead to confusion.
Capital Rice Co.s limited human resource might make it difficult to cope with the
potential big surge in turnover
Since the price of organic rice is higher than normal rice, so it just emphasizes on
the narrow types of customers who has averagehigh income and concern about
the health.

Opportunities:
As Singapore is a small country with high population density, land to produce is
very scarce, so that the demand exceeds supply. It leads to the market gap that the
company can exploit.

10

Appendix C, Page 18

11

Appendix C, Page 18
Appendix C, Page 19

12

 The economy in Singapore is growing rapidly. So, the living standard of people
also increases. Hence, they concern more about the health. This is a good
opportunity for Capital Rice Co. to sell organic rice in Singapore.

Threats:
The concept of organic rice is very new with many people, so that difficulties will
arise in their acceptance by government and consumers
The production processes depend on natural factors that cannot easily be
controlled, including the outbreak of epidemics.
Organic rice could be a temporary fashion (even though this is unlikely)

Competitors Analysis
In Thailand: Thanyaluck International Co., Ltd 13
Strengths:
Thanyaluck International Co., Ltd has experience in export organic rice to many
countries such as Singapore, Canada, China, Europe, Hong Kong, ect.
It buys organic rice directly from the farmers, so that it can achieve the resources
with the lowest cost.
Weaknesses:
The website about the company and products is not enough information.
Moreover, customers cannot order products online through internet.
The brand equity of Thanyaluck International Co., Ltd in Singapore market is not
high. Therefore, it is very difficult to compete with Singapores companies or
Capital Rice Co.,

In Singapore: See Ho Chan Pte Ltd 14

Strengths:
See Ho Chan Pte Ltd is one of the leaders in rice market in Singapore

13
14

Appendix D, Page 20
Appendix D, Page 22

10

 It was operated in 1930s, so it has a lot of experience in selling rice and the
customers in Singapore believe quality of its products.
Well-organization in distribution channel by providing the network of sellers in all
provinces of Singapore and achieve a wide rage of customers.
Created Home Direct service which provide free delivery and ensure the
customers that they will always get the freshest products delivered right to their
doorstep
Weaknesses:
See Ho Chan Pte Ltd has to import organic rice from Thailand and resell in
Singapore market. As the result, the cost would be high due to the transportation,
tax expenses, etc.,
Since the cost that spent for organic rice was so high, the company just imported a
limited quantity that was not enough to supply for its customers in Singapore.

Marketing Strategy
Target Market
To analyze whether out target market has favorable characteristics or not, we will
consider factors based on these dimensions:
1. Demographic perspective:
From the facts that we found, we can see that our target market, Singapore, has
very well-developing characteristics. The population is around 4 million with growth rate
of 1.56%15. And from the statistics, we can see that among different ethnic groups,
Chinese, Malaysians and Indian are the majority. People derived from these cultures
include rice in their main and common food. Also having higher birth rate over death rate
assures population growth. And result of higher population, food consumption will

15

Appendix B, Page 4

11

increase with proportionate rise in rice consumption sector. Thus, to conclude,

demographic factors of Singapore provide us with favorable conditions and opportunities.

2. Geographic perspective:
Singapore is located in Southeast Asia and it constitutes islands between Malaysia
and Indonesia. It has an area of 692.7 sq km16 in total, of which 682.7 sq km17 is land. Its
climate is composed of hot and humid weather, but it is also rainy most of the time. Its
terrain is classified as low-land. Fish and deep water ports are only natural resource
available for Singaporeans. Among the land used area, 0% is for permanent crops,
meaning they have very low emphasis on agriculture and plantation. Thus, rice and other
crops are mostly or almost entirely, imported.
3. Psychographic perspective:
Because majority of people in Singapore are Buddhists 18, they do not have much
cultural differences with other Asian countries or Thailand. Thus, we believe there will
not be much difficulty in dealing with Singaporeans. And the statistics shows that they
have high literacy rate, meaning people are most likely to be open-minded. So, we can
assume that they are willing and open for foreign goods. From these facts, conclusion can
be made that there are less obstacles regarding culture difference and against-foreigngoods-actions in entering the market.

Product Strategy
Objective:
To be able meet world wide standard health issues
To fulfill customers satisfaction at the highest possible extent

16

Appendix B, Page 3
Appendix B, Page 3
18
Appendix b, Page 5
17

12

1. Product type:
The companys main exporting product is rice, and has a lot variety of product
types. But, in entering Singapore market, we focus only one type of product, Organic
rice. And we will target only this product to get penetrated into this particular market.
2. Quality issues:
Capital Rice Company puts a great focus on quality of the product to satisfy its
customers. The global rice trade is very complex, especially regarding the differences
between standard and quality of the rice accepted by different countries. This has
prompted Capital Rice to make constant improvements and to move consistently into the
quality sector.
First grown in the highlands of northern Thailand at the village of Mea-loy in the
Tung-Lor valley, where fertile soil and rainfall are abundant, the organic rice produced by
Capital Rice is of premium quality and meets all EU standards 19. To guarantee the finest
quality, the complicated production process requires intensive care, as well as close
cooperation between Thailands Department of Agriculture and the Boagircoop20, an
Italian independent organic survey institution.
To provide a consistent supply of premium quality rice, the company also has
applied the most advanced equipment and most modern facilities in the production lines.
This includes a spacious wharf which can conveniently accommodate large ocean-going
vessels for direct and speedy shipment.
3. Design and Packaging:
The company provides its goods in colorful and attractive packaging. But,
packaging not only provides attractiveness, but also the
convenience of customers by offering different sizes.
Package size varies from 50kg pack,
25kg pack, 10kg pack and upto 5kg pack. Since the products
have to be delivered from one source to another and

19

Appendix E, Page 24

13

sometimes, even for long-time transportations, the packaging also serves as protection for
the product inside.

4. Branding:
Capital Rice Company uses and distribute its products under its common name
Cap Rice. But, for the organic rice, they produce it under two names, Thai-Thai and
Harvest, where the former is used for domestic market and the latter is for foreign
markets.

The firm uses this brand name so that it can particularize its products characteristics and
relates them to an attractive and clearly identifiable brand image. Once a brand has been
brought to customers attention, selling costs diminish because:
- Advertising attracts custom to the firms own brand rather than to attract class of
product generally
- Distributors and retailers are more willing to handle the goods on account of known
demand for the firms particular branded output.
Because we are selling our products to foreign customers via a long chain of distributors,
sale intermediaries and retailers, we need to ensure that our product retains its unique
brand identity right up to the moment of dales to final consumers.20

Price Strategy:
Objective:
To be competitive among rival firms within the market
To achieve significant market share of at least 20% in the end of year 2006
20

Refer to Trade marks and Branding , International marketing: Strategy, planning, market entry &
implementation

14

 To get customer awareness

To offer at reasonable and competitive price
Pricing strategy applied
The company applies Penetration pricing strategy 21 in entering the Singaporean
market. Because they are totally new in this market environment and competition is really
strong in this particular market, they must set their market entering price at relatively low
level. Otherwise, the company will fail in getting customer awareness as well as required
market share. This strategy is suitable when we are able to produce large number of
output which quickly leads to economies of scale and unit product cost reduces.
Factors forcing to apply this pricing strategy can be classified into external factors and
internal factors.
External factors
Market price this is the factor that has the greatest impact on our price and it is
the price level determined by the firms within the industry. Market price may not
be the same every day, but it change according to other changes such as change in
government policies, change in demand, etc,.
Exchange rate since we dealing with exporting goods between two countries,
the change in exchange rate of these currencies also reflect significant effect on
our price level.
Government policies regulation and deregulation of government policies of both
home and host countries can vary our price level. In some cases, they can also
bring about difficulties, as well as opportunities regarding company operations
Market demand demand is mostly reflected by both population large and
customers desires. Change in demand can be brought out by change in trend of
customers behaviors and their consumption patterns. Lower demand will drag
down our price level. Thus, demand must be considered a factor having great
influence on product price.

21

The strategy that firm combines a low price with aggressive advertising in order to gain larger share of
the market.

15

Internal factors
Product quality to set high quality, we need to have skilled force, advanced
technology and standardized raw materials, which will draw up our cost level
high enough, which in turn force us to set our price high. Thus, quality level of
the product has a direct effect on its price.
Labor factor in case that workers demand high salary and payments due to
social problems, there will be an increase in our cost structure. Thus, we must also
set our price high to cover the cost. Hence, this is also an influencing factor over
price,
Determining Price
In setting up a price, the company practices cost plus method. Here, we find out
all the costs incurred for a unit product and add our desired profit amount per unit to cost
to get unit product price. The desired profit amount is determined by applying mark-up
on cost which is in terms of percentage. But, this percentage amount of mark-up desired
will be varied according to the situation the company faces. If it needs to lower its
product price, they will reduce this percentage and if they demand high profit level, they
will use high mark-up on cost percentage.
Direct material cost per unit
Direct labor cost per unit
Factory overhead cost per unit:
Utilities
Rent
Insurance
Maintenance
---------------------------------------Total cost of production per unit
Selling price

S$ 2 ( in terms of Singapore dollar )

2
1
1
.6
.6
------S$7.12

= cost per unit + mark-up on cost

= S$ 7.12 + 2.13 (30% mark-up on cost)
= S$ 9.25

16

INCOTERMS applied
The company applies two types of incoterms or export delivery systems in the
business. And the cost structure varies with each incoterm and price also varies. In each
business transaction, different incoterms are favored by different customers. Two types of
delivery system that the company applies are :
Cost and freight (CFR)22 - where the company pays for all the expenses
concerning transportation, but these exclude insurance cost.
Cost, Insurance and freight ( CIF ) 23 where the company pays for all expenses of
transportation , plus insurance.

Distribution Strategy:
Objective:
To provide] product availability in the market
To have an easy entering to the market
To make products reach to customers in easy way
4) To get easy access to market information
In entering Singapore market, we need to set up specific channels of distribution
which will support our marketing strategies to be effective. In this case, we are exporting
Thai organic rice to Singapore, where we have little market knowledge and experience.
Thus, we choose to allocate one Singaporean company as our long-term wholesaler. This
firm must be one that has reliable financing conditions and market knowledge. Through
this firm, we can distribute and push our products into the markets.
When dealing with this wholesaler, we are not going to let it take title over our
products. Thus, this wholesaler does not need to buy goods from us, but help us distribute
our products by earning commission fees. By applying this strategy, we still have control
over our products price and do not lack information regarding its condition in the market.
Also it means this wholesaler is not fully authorized to every function regarding our
22

The exporter pays all the transport charges ( excluding insurance, which is the customers obligation)
required to deliver good by sea to a named destination.
23
The same as CFR but includes the requirement that the exporter and not the customer insure the goods to
their final destination.

17

products and mostly control remains in our authority. This particular wholesaler will
again sell our products to wholesalers and retailers, such as super markets and other minimarkets. Then, our products will reach to customers or end-users though these retailers.
Following is a diagram showing channels of distribution applied:
Wholesaler

Capital Rice
Company
( in Thailand)

Wholesaler
(Consolidations
Services Pte Ltd
in Singapore)

Retailer 1
(super
market )

Retailers

Customers
or
End-users
(Singapore)

Retailer 2
( mini
market)

Promotion Strategy:
Objective:
To make our products well-known
To have a good start in entering this market
To maintain good relationships with both customers and sales intermediaries such
as wholesalers and retailers.

1. Discount strategy:
To apply promotion in entering this market for our product Organic rice, we
consider market factors. Singapore rice industry is a competitive market with a lot of
competitors both from Thailand and other countries as well. Since we are new to this
particular market, we need have effective promotion strategy to make our product known
by the customers in the market. Also to have a significant share in market is an essential
goal. Thus, the company decided to offer discounts for first operating months. During this
period, price will be lowered as a special offer for customers.

18

2. Offering privilege to sales intermediaries:

For the wholesaler, commission percentage will be high if it can make our sales
reach to specific amount, such as 1 million Singapore dollars. This will be an incentive
and motivation behind the wholesaler to push our products into the market and to
increase the sales amount. Using this type of promotion strategy enables us to have
control over sales as well as price level.
3. Applying Internet media:
The company has its own website24, where information concerning the company
itself, its products, market price and other useful details are given. Also this website
provides opportunities to anyone who interested in doing business with Capital Rice
Company. This is easily can be done through registering at their website by giving your
necessary information. And to make a contact will be an easy process. This is very useful
for those firms abroad who want to become sale intermediaries of the company in their
home country. They can have easy access to company information via internet where no
physical contact is needed and time is saved.
4. Maintaining Public relation:
Capital Rice Company does a lot of donations and goods offering to public as to
maintain good relationship and to keep up positive image of the company. These
donations include offering rice to Tsunami victims, providing funds for environmental
issue problems and so on. These make company be in high position from customers
perspective and also can help to retain customers loyalty. Also having good image
supports them to acquire long-term relationships with other firms that they have to deal
with, such as suppliers and wholesalers.

24

http://www.capitalrice.com

19

Challenges and Solution

Challenge: Capital Rice Co. isnt well-known in the international business to business
and internal factor within Thailand have a strong problem such as bird flu. Singapore
Government isnt acceptable our product, lead to decrease recognition
Solution: Exhibition, trade show, provide information and open opportunity to introduce
the product that can expand products to other country
Challenge: Singapore consumer use high standard living of life and choose of the best
product so it is hard to enter into the target market.
Solution: Creating companys reputation and recognition by increasing a good quality
of organic rice, build the trust for the international business that we should be acceptable
for world wide.
Challenge: Many competitors; Thai rice need to engage into this market. But Singapore
is hard to penetrate and high-tariff markets because Singapore is the most efficient
seaport and have many port facilities to import from other countries that why our
company fight for market share.
Solution: Singapore contacts a participant in many international organizations around the
world, including ASEAN and APEC. Thus, Thailand is also one of the members of these
organizations, so Thailand has positive relationship with Singapore. We use an advantage
to get into the market share.
Opportunities:
Country of origin effect: Thailand is a major exporter of agricultural products and
was ranked in the top rank for rice exporter in the world. This means we have

20

opportunity to get sale volume from organic rice that shows a better quality than
other country.
Our company gets the Best Exporter Award for Agricultural products and also
expands its presence in the international markets that it is going to be a high
opportunity for us to export in Singapore

21