Ritz Corp To Export Guarana Flour To China Starting Next March

KUALA PILAH (Negeri Sembilan, Malaysia) Nov 21 (Bernama) -- Ritz Corporation Holding Bhd, which is involved in the cultivation of guarana, will start exporting guarana flour to China in March next year. Its Managing Director, Ibrahim Yahya said this followed a Memorandum of Understanding (MoU) signed between the company and Creation Way (China) Holding Ltd to supply about 70,000 tonnes of guarana flour per month to China. “With this agreement, the company expects to earn at least RM154 million a month and we are confident of meeting this demand as we have a high-capacity plant that processes guarana seeds into flour in the northern region. "We are also the first guarana flour producer in Asia," he told reporters after the MoU signing ceremony here Wednesday. Guarana is a crop used to produce health, beauty and energy drink products. The MoU was signed by Ibrahim on behalf of Ritz Corporation while Creation Way (China) was represented by its Chief Executive Officer, Yu Chi Leung. Ibrahim said guarana, which is gluten-free and rich in iron and calcium, has the same uses as wheat flour and is retails at about RM2.80 per kilogramme locally. Guarana flour is processed from guarana, a type of herb plant originating from Venezuela and northern Brazil. Ibrahim said Brazil has given his company an exclusive licence to cultivate guarana trees in Malaysia. -- BERNAMA