Randeniya International Gampaha invests Rs. 350 Mn to expand factory | Daily News

Randeniya International Gampaha invests Rs. 350 Mn to expand factory

Randeniya Internatinal received the award for Best Entrepreneur 2016 in the Western Province recently. Company Director Nipun Randeniya receiving the award from Industry and Commerce Minister Rishad Bathiudeen at the Sri Lanka Foundation Institute.
Randeniya Internatinal received the award for Best Entrepreneur 2016 in the Western Province recently. Company Director Nipun Randeniya receiving the award from Industry and Commerce Minister Rishad Bathiudeen at the Sri Lanka Foundation Institute.

Randeniya International (Private) Limited, Gampaha, the largest Sri Lankan Exporters of Virgin Coconut Oil to Germany and many other countries, has invested over Rs. 350 million during the last two years to expand their factory, install new machinery and move in to new products.

Director Nipuna P. Randeniya said that due to new health advisories of consuming coconut products, there is an increased demand for Virgin Coconut oil. Coconut elixir Organic Virgin Oil is today considered as one of the Healthiest Oils in the planet. Our products are free from genetically modified organisms (GMO).

“Randeniya Oil Mills which was established in 1984 by my father and Chairman Noel Sudharma Randeniya was one of the pioneers that exported high quality Virgin Coconut oil under Randeniya International (Private) Limited from 2008.”

“We started exporting in 2007, by despatching 48 (200 ml) bottles to a buyer in Luxemburg and two weeks later, he ordered a container (around 18, 000 litres) due to the high standard of quality maintained by us.”

This gave us confidence to reinvest on new products and capacity. “Today, our organic Coconut Elixir products are traded to large department stores and customers in Canada, United States of America, the United Kingdom, France, Germany, Sweden, Netherlands, Austria, Switzerland, South Africa, Taiwan, Japan, Chile, Australia, Egypt and New Zealand.”

“We have at present moved in the manufacture of Coconut Cake, Coconut flour, Biscuits and Organic Fresh fruits, mainly for the export market which is expanding rapidly. He said that in addition to direct marketing, they also manufacture and export products for global brands.”

Commenting on Virgin Coconut Oil (VCO), he said that the industry was created when a major Tsunami struck Philippines, the largest supplier to the world. Philippines then outsourced VCO from Sri Lanka, Vietnam and the Solomon Island to meet their World demand.

However, subsequently these countries including Sri Lanka, contacted international buyers directly and started direct supply.

In Sri Lanka too, this occurred, but subsequently the local market was diluted due to under cutting and supplying of low quality VCO which led to a dip in price from around US$ 7.8 per bottle to around US$ 2.7 as of today.

Virgin Coconut Oil has a great demand overseas, as it could be used as anti-fungal, antibiotic, weight control, sports nutrition, cardiovascular health, skin health and beauty, nutritive and culinary. He said, “today people are getting busier by the day and they are now hoping to introduce a product ‘infused coconut Oil,’ which would be an ‘all in one’ cooking substance which has essence of salt flavor, chili, Sause and other substances. This could replace chilli, seasoning and sauces, while cooking and consumption.”

He said that Randeniya International was the first Sri Lankan company to obtain ISO 22,000, HACCP, GMP, EU, USDA (NOP) Certified and JAS, Kosher Certification.

He said that the company which started with one employee (his father) today, has over 200 and they invests over 2% for worker welfare and CSR. “Though we have growing international orders, we close our entire operations on week ends as we want the employees to mingle with their family and be fresh when they come back to work on Monday. We are now about to make compulsory Sunday and Monday as holidays, since employees wish to engage in government and banking sector for their personal work.”


 

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