By 2030, our goal is to become a $200 million enterprise
Published on: January 18, 2024.
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Faryal Murtaza: Building a Legacy in the Rice Industry
The Journey of Matco Foods
Established in 1964 by Faryal Murtaza’s grandfather, Matco Foods has grown from a small rice mill in Larkana to become a leading player in the rice industry. Despite facing challenges like nationalisation, the company has stayed true to its mission of making Pakistan the world’s basmati bowl. Matco Foods initially focused on rice processing and exports before introducing its branded rice, Falak, in 1999. As the first company listed on the Pakistani Stock Exchange, Matco Foods enjoys a significant presence in the market, with a 40% share of the branded rice segment.
Quality and Sustainability
Matco Foods takes pride in maintaining consistent quality in its products. From the early stages of rice growth, the company utilizes digital mapping techniques to monitor soil conditions and ensure optimal cultivation. Through its Kissan Dost sustainability program, Matco Foods educates farmers on best practices for sowing and harvesting. The company has received organic certifications from the USDA and EU, testifying to its commitment to traceability and sustainability.
Innovation and Expansion
In response to changing consumer preferences, Matco Foods expanded its portfolio to include food mixes, spices, and seasonings. The Falak Food division caters to the evolving taste buds of consumers by offering a wide range of products, including peri peri seasoning, masalas for fries and steak, and herb mixes. Matco Foods is also exploring opportunities in the corn industry, producing corn starch and extracting rice glucose and rice bran oil from corn and rice husk respectively.
B2B and B2C Approach
Matco Foods caters to both businesses and end consumers. While the Falak Food division serves the B2C market through direct sales to consumers and small businesses, the rice glucose and corn starch divisions focus on supplying the confectionery industry with B2B products. To expand its presence, Matco Foods plans to establish Falak Fulfilment Centres in North America, enabling small stores and outlets to directly order from them. Additionally, the company’s e-store has gained popularity among customers for its convenience.
Marketing for a Diverse Consumer Base
Understanding the age-diverse consumer base, Matco Foods employs targeted marketing strategies. Social media platforms like Facebook, TikTok, and Instagram are utilized to engage with customers from different age groups. The company actively participates in events such as Karachi Eat and North American festivals to directly interact with consumers. Matco Foods also runs frequent advertisement campaigns, collaborating with Azad Films for upcoming projects.
Commitment to Sustainability and CSR
Being a part of the Sustainable Rice Platform (SRP), Matco Foods prioritizes supply chain traceability and environmental protection. The company empowers women farmers through partnerships with Oxfam. In terms of corporate social responsibility, Matco Foods focuses on healthcare and education. The company established a school campus in collaboration with the Citizen’s Foundation and supports healthcare initiatives through the Ghori Trust Foundation.
Future Growth and Ambitions
Matco Foods envisions remarkable growth in the coming years. With ambitious plans to reach a $200 million business by 2030, the company aims to achieve sustainable growth through acquisitions. Expanding the Falak Food Division to offer more enriching products for customers is a primary objective. Matco Foods also anticipates venturing into frozen foods and launching meal kits to provide affordable and healthy options to cater to diverse culinary preferences.
Source: Aurora Magazine
