NutryFarm International has landed a sales order of around 130 million yuan from Anhui Tianhe YouXuan Import for 200 containers of fresh Thailand durians, the fruit trader said in a filing to SGX Monday.
Durian is a large, spiky, edible fruit known for its strong smell, with many countries in Southeast Asia banning its presence on mass transit.
“Reflecting the rising popularity of fresh Thailand durians in the Chinese market, this latest sales order also underlines the capabilities of our team to procure and deliver high quality durians to buyers in China,” Cheng Meng, NutryFarm’s CEO and executive director, said in the statement.
“We look forward to build on this momentum to secure new orders from existing and new customers in Asia,” he added.
NutryFarm has announced agreements to sell fresh Thai durians to major Chinese fruit importers since December, with the total contract value exceeding 1 billion yuan, the filing said.
Durian business doesn’t stink
The company said the durian business was a strong contributor to its fiscal third quarter results, leading revenue for the three months ended 30 June to surge 42-fold.
NutryFarm noted durian prices in China have soared despite increasing supply, as the number of people trying it has increased and as more products are using the fruit as an ingredient.
“Although Thailand has expanded its planted area in recent years, it usually takes five to six years for trees to bear fruit, and the market is currently in short supply,” NutryFarm said.
The new order, which is to be delivered to Moonda (Beijing) Agriculture Science and Technology as the end-customer, followed a previous contract to deliver 300 containers, which was committed to in June, the filing said.