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China Organic Agriculture, Inc. (OTCBB: CNOA) recently announced that it has reached a milestone 3-year retail distribution agreement with Shunda Grain and Oil Company of Songyuan City, one of the largest cities in the northeastern province of Jilin. The agreement which is expected to contribute revenues of 30 million Yuan, equivalent to approximately USD$4 million within calendar year 2007 states that Shunda Grain and Oil will become one of CNOA’s authorized retailers in the supermarket chain store industry, selling “ErMaPao” award-winning series of products to the Fuyu region with more than 2.8 million consumers.
According to Huizhi Xiao, Chairman of China Organic Agriculture, “China Organic continues [to] expand revenues and earnings from an ever-growing list of agreements with some of China’s largest retail distribution systems. This agreement as well as [with] other major retail distributors such as Suguo and Hualian will only help to increase our growth as we look to move forward with expanding our distribution systems and broaden our share of the large rice market in Songyuan City.”
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