NutryFarm secures new sales order to supply 100 containers of fresh durians from Thailand to China

NutryFarm International Limited has announced that Global Agricapital (Singapore) Pte Ltd (“GAS”), has secured a sales order from Shenzhen Runtai Silk Road Intelligent Retail Co., Ltd for the delivery of 100 containers of fresh durians from Thailand, starting from 22 November 2021 till 31 December 2022.

Runtai Silk Road is part of the Fortune 500 Company, Ruentex Group, a conglomerate based in Taiwan with diversified business activities that includes retail hypermart, RT-Mart, among others. Established in Shenzhen in 2016, Runtai Silk Road leverages on Ruentex Group’s extensive sales channels and resources to tap business opportunities arising from the new retail industry under China's Belt and Road initiatives.

Thailand's durian exports remain top in the world, with new export records constantly being created. According to the latest report released by the Kasikorn Research Center, Thailand’s total export value in May 2021 reached a record high of US$934.9 million, an annual increase of 95.3%. Export value to China, the country’s main durian export market, increased a staggering 130.9%.

The Group’s durian business has been a strong contributor to its third quarter results for the financial period ended 30 June 2021, which led to revenue surging 42-fold to HK$516.77 million and net profit of HK$19.24 million.

In August 2021, the Group obtained approval from shareholders via an Extraordinary General Meeting to diversify its business and expand its core business to include fruit trading. And in September 2021, the Group completed a share placement exercise, via the issuance of 20 million new ordinary shares at an issue price of S$0.29 per share, to raise gross proceeds of S$5.8 million to accelerate its growth plans in Asia’s durian industry.

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