The investment is expected to accelerate growth in the company’s rice business and increase rice’s contribution to revenue.
Despite the closure of the Olen factory, the company plans to continue its broader operational presence in Belgium.
Senegal, which imports approximately 1.65 million mt of milled rice annually to cover about 70% of its domestic demand, paused imports to reduce local oversupply.
Thai rice output in 2025-26 is projected at 20.48 million tonnes, only slightly below the previous year and still ranking as Thailand’s fourth-largest harvest on record.
CEO and cofounder Palash Jain said that Kiara processes 100% locally sourced paddy rice, yet still faces acute supply constraints.