Mr. Steve Bank reports
SUNORA FOODS ENTERS INTO ADDITIONAL AGREEMENT TO SUPPLY FOOD OILS TO ASIA
Sunora Foods Inc. has signed an agreement to supply a major Asian trading partner with its portfolio of Canadian-manufactured food oils. This agreement will result in increased shipments of primarily canola oil, a product that is in high demand throughout Asia. This agreement further complements existing arrangements to supply food oils to Asia as previously announced in 2014 by the corporation.
Sunora continues to penetrate the Asian market for food oils, with specific focus on China and other important countries in Asia. Asian countries' demand for high-quality Canadian food oils, including canola oil, is a primary driver for the increasing international shipments from Sunora. With a population of 1.35 billion people, it is expected that Chinese imports will continue to rise in 2015 and beyond.
IMPORTS OF CANADIAN CANOLA TO CHINA (2013)
Canadian canola Value of
imports (tonnes) Canadian canola
imports
Seed 2,870,000 $1.8-billion
Oil 855,000 $1.0-billion
Source: Canola Council of Canada
President and chief executive officer Steve Bank stated: "We are very pleased to continue the delivery of high-quality Sunora products to new and existing customers, both domestically and internationally. Our ability to source and deliver in a timely manner has resulted in additional interest internationally, and we are receiving significant orders on a weekly basis."
Canola oil is the healthiest commodity oil available to consumers, the food service industry and food processors. Additional information related to canola oil and its health benefits can be viewed on the Canola Council of Canada website.
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