The Vision Foods is grower, processor and exporter of Basmati and Non Basmati
Rice in Pakistan. It is a joint venture of The Vision Corporation and Ghaffar
Corporation which are among the major rice and shipping businesses in
Pakistan. In addition to that THE VISION FOODS is providing marketing,
logistics, port operations and shipping services to various Pakistani Food
companies including leading Dairy company, Idara E Kisan, for the export of
Food products from Pakistan to international Market.
The emergence of The Vision Foods is reasoned by 2007 – 2008 food prices
crisis which hit the Pakistani market as well, halting the export of rice
significantly and destroying the export segment of rice trade at worst. Several
measures were taken by the rice exporters, including manipulation with quality
to keep the prices in control but in vain.
In view of the situation both the companies (The Vision Corporation & Ghaffar
Corporation) has planned to take impervious steps to stabilize the rice trade
and export business and major change was brought into the business policies,
including formation of THE VISION FOODS to invest into corporate farming,
contract farming and cultivation of various rice varieties aimed for Export and
domestic market.
Background
2006 – 07 has left worst effects on Pakistani Basmati Rice trade and export
because of the Iran's stockpiling and massive purchases of food grain, leading
Pakistani basmati prices to dramatic higher levels, global food shortage,
hoarding and market fluctuation which pushed the prices of Basmati Rice from
25 Rs. Per kilogram to 150 Rs per kilogram just in one year. The situation has
destroyed the rice trade potential and several Rice mills were forced to shut
down operations due to unavailability of rice in the market, several exporters
had to shift their businesses towards other activities leaving Rice Export aside
as they were not able to meet the demands of foreign buyers.
The Situation also pushed to government to think over banning the rice export
and other curbs on the export of rice, which finally implemented as the
imposition a MEP on rice export in 2007. The dramatic increase in prices have
also adverse impacts on the traditional markets of Pakistani rice like U.A.E.
Later as the result of sudden increase in prices in local market of Pakistan,
export prices have soared considerably and the importers have ceased placing
orders to Pakistani Rice Exporters.
Some importers have also started playing with quality to reduce the cost with
the connivance of their suppliers (Rice Exporters), hence ruining the perception
of Pakistani Basmati Rice in the consumers' mind. In domestic market,
hoarders and speculators were pocketing huge profits and Rice Exporters were
in turmoil. They were looking towards the Government, helplessly to crackdown
these elements who were damaging the International Basmati Rice market for
Pakistan.
The situation also affected in worst over Rice Trading Operations of THE VISION
CORPORATION and export sales were reduced to 10% and still the company
was unable to supply the demand because of its reliance over the market
prices and supplies as the rice was procured from the market when an Order is
received from overseas. Fluctuation in prices of rice due to hoarding and
speculation caused losses to the company around half million dollars and
company has stopped it's rice export operations in June 2007 temporarily.
Rice in Pakistan. It is a joint venture of The Vision Corporation and Ghaffar
Corporation which are among the major rice and shipping businesses in
Pakistan. In addition to that THE VISION FOODS is providing marketing,
logistics, port operations and shipping services to various Pakistani Food
companies including leading Dairy company, Idara E Kisan, for the export of
Food products from Pakistan to international Market.
The emergence of The Vision Foods is reasoned by 2007 – 2008 food prices
crisis which hit the Pakistani market as well, halting the export of rice
significantly and destroying the export segment of rice trade at worst. Several
measures were taken by the rice exporters, including manipulation with quality
to keep the prices in control but in vain.
In view of the situation both the companies (The Vision Corporation & Ghaffar
Corporation) has planned to take impervious steps to stabilize the rice trade
and export business and major change was brought into the business policies,
including formation of THE VISION FOODS to invest into corporate farming,
contract farming and cultivation of various rice varieties aimed for Export and
domestic market.
Background
2006 – 07 has left worst effects on Pakistani Basmati Rice trade and export
because of the Iran's stockpiling and massive purchases of food grain, leading
Pakistani basmati prices to dramatic higher levels, global food shortage,
hoarding and market fluctuation which pushed the prices of Basmati Rice from
25 Rs. Per kilogram to 150 Rs per kilogram just in one year. The situation has
destroyed the rice trade potential and several Rice mills were forced to shut
down operations due to unavailability of rice in the market, several exporters
had to shift their businesses towards other activities leaving Rice Export aside
as they were not able to meet the demands of foreign buyers.
The Situation also pushed to government to think over banning the rice export
and other curbs on the export of rice, which finally implemented as the
imposition a MEP on rice export in 2007. The dramatic increase in prices have
also adverse impacts on the traditional markets of Pakistani rice like U.A.E.
Later as the result of sudden increase in prices in local market of Pakistan,
export prices have soared considerably and the importers have ceased placing
orders to Pakistani Rice Exporters.
Some importers have also started playing with quality to reduce the cost with
the connivance of their suppliers (Rice Exporters), hence ruining the perception
of Pakistani Basmati Rice in the consumers' mind. In domestic market,
hoarders and speculators were pocketing huge profits and Rice Exporters were
in turmoil. They were looking towards the Government, helplessly to crackdown
these elements who were damaging the International Basmati Rice market for
Pakistan.
The situation also affected in worst over Rice Trading Operations of THE VISION
CORPORATION and export sales were reduced to 10% and still the company
was unable to supply the demand because of its reliance over the market
prices and supplies as the rice was procured from the market when an Order is
received from overseas. Fluctuation in prices of rice due to hoarding and
speculation caused losses to the company around half million dollars and
company has stopped it's rice export operations in June 2007 temporarily.
About The Vision Foods
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