AfriAg Marketing Division Secures "Relatively Small" Initial Orders

LONDON (Alliance News) - AfriAg PLC Thursday said its new agri-produce marketing and sales and distribution division has dispatched its first orders of frozen fish produce to Asia, with two orders totalling more than 1.5 tonnes of Mozambique langoustines to Singapore and Hong Kong.

"Although these orders are relatively small, we are pleased that our new wholly owned market division has commenced business so quickly with these first orders and see a great future opportunity in supplying quality high value fish products to Asia," Chairman David Lenigas said in a statement.

The news comes a day after AfriAg said that AfriAg Marketing Pty Ltd expected to secure its first contracts shortly.

AfriAg Marketing's prime focus is the sourcing, distribution and marketing of African agri-produce, fresh and frozen, within the Southern African region as well as from Southern Africa to global markets.

AfriAg shares were Thursday quoted down 3.8% at 0.630 pence.

By Samuel Agini; samagini@alliancenews.com; @samuelagini

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