Canadian Food Business
RiceBran Technologies’ new exclusive supply agreement has given it a foothold in the fastest-growing segment of the U.S. food and beverage market, that of natural, organic and functional foods. The company has entered into an agreement with Thailand-based Narula Group, one of the world’s largest growers of organic rice, which gives RiceBran exclusive worldwide supply and distribution rights for Narula’s organic rice bran varieties.
“According to the NEXT Forecast 2016 published by New Hope Natural Media, sales of natural, organic and functional foods reached $110 billion in 2014, or 15% of total U.S. food and beverage sales,” says President and CEO of RiceBran, W. John Short. “The agreements reached with the Narula Group add organic rice bran and other healthy, natural and organic products to our existing offerings of non-GMO, healthy and natural functional food products.”
RiceBran expects sales of high-value, high-margin organic rice bran and organic non-rice bran products to launch in North America in the second quarter of 2016. The exclusive territory of RiceBran’s supply agreement excludes certain South Asian markets, Germany and the United Kingdom, which will continue to be served by Narula Group.
