By 2030, our aim is for our business to reach a value of $200 million
Published on: January 18, 2024.
Filed under:
Matco Foods: A Journey of Success and Excellence in the Rice Industry
Faryal Murtaza, the UAE Business Head of Matco Foods, shares the inspiring story behind the organization’s remarkable growth since its establishment in 1964.
The History and Vision of Matco Foods
Matco Foods was founded by Faryal Murtaza’s grandfather in 1964 after he migrated to Pakistan. Despite facing challenges, he firmly believed in the potential of Pakistan’s rice industry. Initially focused on processing and supplying rice to export businesses, Matco Foods introduced branded rice called Falak in 1999, named after Murtaza’s younger sister. It became the first company listed on the Pakistani Stock Exchange and received significant backing from the International Finance Corporation.
Embracing the Brand Culture: Falak’s Rise in the Market
While initially prioritizing exports, Matco Foods recognized the importance of providing Pakistani consumers with high-quality branded rice. According to a recent survey conducted with Oula, Falak leads the market with a 40% share in the branded rice segment. The brand ensures consistent quality, both domestically and internationally, making it available in over 50 countries.
Prioritizing Quality and Sustainability
Matco Foods maintains control over the entire rice production process, starting from the cultivation stage. By digitally mapping the soil in their Punjab and Sindh farms, they optimize water usage, recognizing rice’s sensitivity to its environment. Their Kissan Dost sustainability program educates farmers on optimal sowing and harvesting times. This commitment to quality has earned Matco Foods the USDA and EU Organic Certification, ensuring traceability and sustainability.
Competition and Differentiation
Matco Foods believes in being their own fiercest competitors, driven by their passion for food and commitment to excellence.
Expanding the Product Portfolio
Since 2013, Matco Foods has expanded its offerings to include food mixes, spices, and seasonings through its Falak Food division. Recognizing the evolving consumer dynamic, they cater to diverse tastes and preferences, introducing products like peri peri seasoning, masalas, and food mixes for international cuisines. Additionally, they have ventured into corn-based products like corn starch and rice bran oil.
Maintaining a Strong Market Presence
Matco Foods serves both B2B and B2C markets. While offering products directly to end consumers and small businesses through the Falak Food division, they also cater to the confectionery industry with their rice glucose and corn starch divisions. They have plans to establish Falak Fulfillment Centers in North America, enhancing accessibility for outlet and small store owners. Furthermore, their popular e-store provides convenience for online shoppers.
Effective Marketing Strategies
Matco Foods understands the importance of following their customers. They leverage social media platforms to reach different age groups and participate in events that directly engage consumers. Their advertisements, executed by Azad Films, ensure widespread visibility.
Commitment to Sustainability and CSR
As a member of the Sustainable Rice Platform (SRP), Matco Foods prioritizes supply chain traceability and environmental protection. They actively empower women farmers through their partnership with Oxfam. In terms of CSR, they focus on healthcare and education, establishing school campuses and supporting healthcare initiatives through the Ghori Trust Foundation.
Future Growth and Innovation
Matco Foods aims to achieve a $200 million business by 2030 through acquisitions and sustainable growth. They plan to expand the Falak Food Division, offering more enriching products and exploring the growing demand for frozen foods. Introducing meal kits, they aim to provide affordable and healthy options to cater to diverse palates.
Source: Source
