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Non-Tech : SNF.V - Sunora Foods Inc.
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From: JRod779/1/2016 10:05:56 AM
   of 62
 
Sunora unaffected by Chinese canola seed restriction



2016-09-01 05:50 MT - News Release

Mr. Steve Bank reports

SUNORA FOODS MAINTAINS MOMENTUM IN CHINA

Sunora Foods Inc. has provided a clarification on the potential impact on Sunora Foods of the restrictions on the export of canola seed to China. The current concern relates strictly to canola seed and is with regard to the amount of dockage, or foreign material such as weeds, other crops or detritus in the exported material. Sunora is not actively exporting canola seed and would not be impacted in China by any potential restriction on the export of this material.

Sunora exports to China and other Asian jurisdictions are strictly related to canola oil and other food oils. Management continues to develop new sales channels and customers in China and other Southeast Asian countries. The corporation was recently interviewed by CBC News Calgary for input on the potential disruption to canola seed and meal exports.

"If there's less seed in China for processors, and there may be somewhat less, it opens up an opportunity for those of us who are exporting canola oil itself," said Steve Bank, the chief executive officer of Sunora Foods, whose second largest market after the United States is China.

© 2016 Canjex Publishing Ltd. All rights reserved.
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