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Sun Asia signs $25M deal to supply Asian market with Australian produce

Consumer Discretionary, Finance
ASX:IVO
18 June 2019 22:53 (AEST)

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Invigor Group’s subsidiary Sun Asia will now supply Australian produce into Asia under an agreement worth $25 million annually.

The Agreement has the first $2 million of Australian produce arriving in Asia in the coming months.

Mayuresh Protenz is part of Mayuresh Group and is one of India’s largest Agriculture companies. Protenz has supply agreements with a broad range of Asian customers and Sun Asia will supply these products from Australia using the Smart Farm solution. The products include chick peas, table grapes, stone fruit and citrus.

Smart Farm is a concept in which Sun Asia use modern technology to improve productivity, environmental sustainability, safety and workflow for the agricultural industry.

The supply of Australian produce is a critical element for Smart Farm division. The agreement demonstrates to Australian producers that Sun Asia is able to deliver strong reliable customers from Asia.

Mayuresh Protenz will be considering making Sun Asia its exclusive Australian supplier.

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