Kohinoor’s US partner wants to end rice purchase pact

Rice exporter Kohinoor Foods on Monday said that its joint venture partner US-based McCormick has sent a notice to terminate an agreement for sourcing rice exclusively from the company. In June 2011, Kohinoor Foods had announced a joint venture with US-based spice maker McCormick for marketing of basmati rice and other food products in India. Kohinoor Foods alleged the joint venture firm Kohinoor Speciality Food, in which McCormick holds 85 per cent, started taking rice from other suppliers since 2013-14 in violation of its agreement with the JV firm.