Rice India, Ramoji Agro tie up to cut rice price in Bengaluru
13 Feb 2010
A joint venture in Karnataka is planning to set up about 12 rice malls in different parts of Bengaluru city next week in an attempt to control rising prices of rice.
The malls, branded 'Oryzz Rice Homes', will offer 60 varieties of rice at six to eight per cent less than the market price by cutting brokerage charges in the supply chain management.
These chain of malls is a joint venture between rice traders Ramoji Agro Pvt Ltd and online rice trading portal Rice India.
The target is middle-class homes, Ramoji Agro's managing director Ramojam and Rice India CEO Shashikumar Thimaiah said at a press meet today.
"At Oryzz Rice Homes, rice will be supplied directly from the mills to customers. This system will avoid the middlemen and hence the customer will get high quality rice at a competitive price, which will be 6 to 8 per cent less than the market price," Ramojam said.
The company plans to open more than 50 such stores in the city in the near term. This model will be expanded to the district and taluk-levels under franchise model, they said.