Climate change, changing consumer demand and competition/
Farhan Adam on addressing the industry’s challenges

Farhan Adam is the CEO of Marina Commodities and the GPC Treasurer. He spoke on the Red Lentils panel at the GPC’s Pulses 23 convention on May 28-31 in Sydney, Australia. 

You oversee the commercial and administrative activities of Marina Commodities. Can you tell us what this involves and a bit more about your position?

As the CEO of Marina Commodities, I oversee the day-to-day commercial and administrative activities of the company. This involves managing the operations team, maintaining relationships with our suppliers and customers, overseeing procurement and logistics, and ensuring the smooth execution of our business activities. 

Additionally, I work closely with the research and development team to explore new markets and opportunities for growth.

You also oversee research in developing new markets both for origination and sales. Can you tell us more about this process?

Developing new markets for origination and sales is a complex process that involves extensive research and analysis. We start by identifying emerging markets where there is a demand for our products and services. 

We then conduct market research to understand the needs and preferences of the local consumers, as well as the competitive landscape. Based on this research, we develop strategies for entering these markets, which may include adapting our products and services to meet local needs, developing strong relationships and partnerships with local businesses, and investing in marketing and advertising campaigns. Understanding customer needs is the most important aspect for new markets.

What was your entry into the role?

The business is a family operation. I graduated from university in 2001 and established Marina Commodities as a new business under the family umbrella. Our family was primarily involved in the textiles business at that time. I wanted to step out of the traditional business and do something different. So, I did my research to see what is exported out of Canada, and Pakistan seems to be importing good volumes. I then tried to connect the dots and got the first contract done.

Initially, I was the only employee who did all documentation, banking, research, procurement, sales and, most of all, make and maintain new clients. Over the years, I have gained extensive experience in the industry and have been fortunate to work with a talented and dedicated team of professionals.

Marina Commodities has succeeded to penetrate even the most competitive markets due to the emphasis on service and quality products. What are some of the specific markets and what are the pivotal drivers that have contributed to the success?

Our success in penetrating competitive markets can be attributed to a number of factors, including our commitment to quality and service, our ability to adapt to local markets, and our strong relationships with suppliers and customers. Our word is our bond. We are known in the world to perform each contract with our buyers and sellers giving them peace of mind.

Peace of mind is provided by service and performance on the contracts. Our name is now known in the pulses market, which gives the buyer comfort to engage with us. They also understand that with Marina everything is all confidential business which gives them added security.

You are a board member and a speaker at the upcoming convention. What are some of the key issues facing the industry at present? Can you tell us more about what you will be discussing on the panel?

There are a number of key issues facing the industry at present, including changing consumer preferences, increasing competition, and the impact of climate change on production and supply chains. There have been ‘sudden’ changes to import country rules and regulations where overnight duties or bans are imposed. We have also seen huge currency depreciations in importing countries, hindering imports as well as potential defaults due to non-availability of US dollars. As a board member and speaker at the upcoming convention, I will be discussing these issues and exploring strategies for addressing them. 

What are some of the trends that you are currently seeing in both Canada and the industry in general? Have these largely been in trade, or at the consumer end and what areas e.g., value-added and consumption patterns? 

In Canada and the industry in general, we are seeing a number of trends related to trade and consumption patterns. One of the key trends is the increasing demand for value-added products, such as packaged pulses and ready-to-eat meals. 

Additionally, there is growing interest in sustainable and organic products, as well as products that are locally sourced and produced. There has been a big trend in pulses ingredients business developing protein extracts from pulses which are used in various industries. The pet food industry has gained big traction for pulse consumption. There have been big investments done in the plant-based meat segment too. All of this has definitely increased the consumption of pulses.

As people become more aware of the benefits of pulses, consumption increases. Organizations such as the Global Pulse Confederation do a great job in promoting pulses at various forums as well as World Pulse Day with FAO, which has greatly influenced the importance of pulses.

How do you see the trade relationship between Canada and India developing?

Canada and India have a strong and longstanding trade relationship, particularly in the area of pulses and grains. I believe that this relationship will continue to grow and evolve in the coming years, as both countries look to expand their markets and address the challenges facing the industry.

Both Canada and India are the largest producers of pulses, but due to the high consumption of pulses, (most of the population is vegetarian) India continues to be a dominant importer. India is trying its best to become self-reliant on pulses however, some things are weather dependant. Monsoon shortfalls in India can adversely affect the production and therefore Canada is long-term partner for them to provide the necessary shortfalls.

Do you think consumer awareness around pulses and grains has increased? Are consumers demanding more from the industry?

Yes, consumer awareness around pulses and grains has definitely increased in recent years. Consumers are becoming more health-conscious and are looking for nutritious and sustainable food options. As a result, there is growing demand for pulses and grains, as well as for value-added products that are convenient and easy to prepare. 

Many of the lentils in the diversified commodities category are sourced from Canada. Is the country ahead of the curve in terms of progress? What are some of the factors of Canada’s success in terms of pulses and grains?

Canada has been a leader in the production and export of pulses and grains for many years. Some of the factors contributing to Canada's success in this area include the country's favourable climate and soil conditions, as well as the expertise and innovation of Canadian farmers and processors. Additionally, Canada has developed strong relationships with key trading partners around the world. Canada has increased its lentil production drastically over the last 20 years and now dominates the world market.

What does the future hold for the industry? 

The future of the industry is both exciting and challenging. On the one hand, there are growing opportunities for expansion and innovation, particularly in emerging markets. On the other hand, there are a number of challenges facing the industry, including climate change, changing consumer preferences, and increasing competition. To succeed in this environment, companies will need to be adaptable, innovative, and committed to quality and sustainability.