Falcon Marine to do business with Amazon: Tara Ranjan Patnaik
Brands of Odisha Pride of India. Sambad Corporate Excellence Awards-2021
Bhubaneswar: Tara Ranjan Patnaik, Chairman of Falcon Marine Exports Limited, is one of the well-known names in seafood business and export sector. He has been instrumental in bringing Odisha shrimps to global market.
What he discussed about the effects of COVID-19 pandemic, the export market and his Company is presented here.
How has the State’s seafood market been affected by the COVID pandemic?
The seafood production was very good and encouraging during previous years before the COVID hit the State. Odisha had a total market capitalization of over Rs 3,000 crore. By December 2019, we came to know that the Coronavirus had appeared in China. The disease was also expected to spread worldwide. We were warned by China. We also monitored the situation. We also told farmers not to stock more when stocking in March. They reduced the stocking. As a result, production in Odisha declined by 25-30%.
How has the business been affected?
Our business has been affected by about 30-40%. The closure of the factory and lockdown caused many issues. Overall, the year 2020 was worst for business. The traders have suffered huge losses. They did not get encouragement from the government for which the business has been deeply affected.
When do you think the export market will return to normal?
If something good happens in the United States, the export market will improve. If the European and US markets improve in the next two months, normalcy will return. There is still a huge stockpile in the United States and Europe. First they have to be sold in the market. Then you can think of new assignments. It is yet to predict when the normalcy will be restored.
From which country does the allotment come from?
Our company chiefly trades in the United States. Now, we are procuring from Andhra Pradesh as per requirement. In Odisha and West Bengal, everything has come to a standstill. In Odisha, transactions take place between May and October. Merchants receive very little allocation from China. Those who sell raw materials, export to China. The final product was not bought by China.
Are there any new markets for exports?
Indian shrimps are being exported to different parts of the world. But the United States is still the best market. The United States is a country that does not buy chemical-induced products. We are planning to deal with Amazon in the United States. We were dealing with American majors like Walmart, Costco and Cisco. But they will get better prices from Amazon, as they will be able to get online orders and deliver directly.
Do you have plans to increase the processing capacity of your organisation?
Our Bhubaneswar and Balasore units have a total daily production capacity of 250 metric tonnes. We are investing more in the factory. We have spent Rs 30 crore and ordered 7 new machines. We have enough space. Only new machines have to be installed.
You were the first industrialist in the State to donate to the Chief Minister’s Relief Fund during COVID pandemic. What was your feeling behind it?
The Chief Minister first announced that a fund had been set up for COVID. I donated money with a purpose that other industrialists will also come forward to extend their help during the crisis. I just wanted them to give some funding for Odisha. Our work was not limited to funds alone. We even arranged meals for many people during the pandemic. We helped people in every way possible.
What do you think about Sambad’s Brands of Odisha Pride of India. Sambad Corporate Excellence Awards 2021?
It is certainly a good idea to promote such a large media outlet to those who have proven their skills in various fields. This will encourage them and inspire others. This will especially inspire new entrepreneurs.