Organto Foods Inc., an integrated provider of organic and value-added organic fruits and vegetables today announced the expansion of its organic limes portfolio with the first shipment of limes from a strategic Colombian supply partner scheduled to arrive in Europe for commercial distribution this week.
Organic and non-GMO limes were added to Organto’s portfolio earlier this year after successful market testing during which Organto marketed various varieties and sources of lime products with select European based customers. As a result, Organto has now entered into a number of strategic import programs for the year-round supply of organic and non-GMO limes with current supply coming from Colombia, Peru, Mexico and Spain.
Limes are a good source of antioxidants, magnesium, potassium and vitamin C. Vitamin C is a nutrient that is believed to help boost immunity, and one lime can provide approximately 32% of the recommended daily amount of vitamin C. The nutrients in lime support heart health, reduce the risk of asthma and promote healthy skin.
“We are pleased to expand our organic and non-GMO limes portfolio and to be able to supply growing markets on a year-round basis. We believe demand for limes has increased throughout the COVID-19 pandemic, and will continue to do so going forward, as consumers seek out the unique health benefits derived from high antioxidant and vitamin C levels.” commented Rients van der Wal, Co-CEO of Organto and CEO of Organto Europe B.V.
Organto is expecting weekly sales of limes of approximately CDN $45,000 to $60,000 by the end of the fiscal year, with the objective of increasing the lime category to annualized revenues of approximately $10 million as the Company builds out its supply sources and expands its customer base over time. Organto has arranged for the delivery of limes from its suppliers on a year-round basis, with higher volumes expected during April to August each year.
Organto expects to realize record fourth quarter revenues of approximately CDN $4.4 to $4.6 million (November 19, 2020 news release), which will be the largest quarterly revenues in the history of the Company, and an increase of approximately 185% versus the same quarter in the prior year. The commercial expansion of organic limes is expected to be a key contributor to this growth. These results are expected to represent the sixth consecutive quarter of record quarterly revenues for Organto.