Taiwanese consumers are to get a taste for Australian oat milk as Wide Open Agriculture (ASX:WOA) executes a distribution agreement for the on-trend plant milk in the unique Asian market.
Through Wide Open Agriculture’s 'Dirty Clean Foods,' four different flavours of carbon neutral oat milk will hit Taiwanese shelves: Original, Barista, Coffee, and Chocolate.
The agreement runs for a two year period and sees Wide Open team up with a leading market expansion services provider focused on fast moving consumer goods and food services; DKSH also specialises in fashion, lifestyle, and cosmetics.
Wide Open Agriculture expects to see the move deliver some A$650,000 in annual sales.
The company believes its oat milk is the first in the world to meet carbon neutral specifications, an added ESG boost that will likely appeal to the consumers of oat milk.
Plant milks have become notably popular in recent years as environmental consciousness motivations outweigh niche dietary requirements in the Australian market.
Through Dirty Clean Foods, the distribution agreement marks the fifth such contract executed by Wide Open Agriculture in the last seven months.
This, the company believes, is further evidence of a growing global appetite for carbon neutral products.
This will be the company's first foray into the Taiwanese plant milk market (Wide Open Agriculture prefers to use the term "plant-based drinks.")
The first shipment of Dirty Clean's oat milk to Taiwan is expected by July 2022.
DKSH will be responsible for offering the oat milk for sale in Taiwan and both parties are bound to exclusivity acros the two year contract from June 1st.
Wide Open Agriculture yesterday saw its share price close 25% higher at 67.5c after the company announced a separate supply agreement to Australian Monde Nissin.
Wide Open Agriculture will provide Monde Nissin with a plant-based protein concentrate called Buntine Protein to be used in the formulation of likewise plant-based products.
Monde Nissin is the owner of the Nudie and Wattle Valley brands, among others.
Early last month, Woolworths boosted its offtake of Dirty Clean Foods products, expanding availability of the product to an extra 150 stores, now totalling 650 across Australia.
Share performance has grown 19% over the last week.
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