NutryFarm International announced on Oct 11 that it has secured a sales order of approximately RMB65 million from Anhui Dingguan Supply Management Co. for the delivery of 100 containers of fresh durians from Thailand with the first shipment expected in November 2021.
In 2020, Thailand exported 575,000 tons of fresh durians to China, totalling approximately RMB14.7 billion, a year-on-year increase of 78%. China has become Thailand's largest export market for durians. In 1Q2021, Thailand's durian exports to China reached US$186 million or RMB1.19 billion, an increase of 14% over the same period last year, NutryFarm said.
Chanthaburi, where the durians are produced in eastern Thailand, set a record of receiving orders from Chinese buyers for 20 tons (approximately 10,000) of fresh durians in one day. According to the forecast of the Ministry of Agriculture of Thailand, this year will be the "golden year" for Thailand's fresh durian exports to China. Both the export volume and the export value will reach new highs.
Since December 2020, NutryFarm has announced various agreements to sell fresh durians from Thailand to major Chinese fruit importers and the total contract value of these agreements has exceeded RMB1 billion. The Group’s durian business was a strong contributor to its third quarter results for the financial period ended June 30, 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.
