Starting from raw land and developed into what is now approximately 100 acres of jalapeno chili peppers at Rancho Arenoso near the town of El Rosario, the farm is now approaching the peak of its 2018 harvest.
ProGreen US, Inc. (ProGreen) (OTCQB:PGUS), provided an update today on the status of its agricultural project in Baja California, Mexico.
ProGreen funded the development of a pilot farming operation, ProGreen Farms™ Arenoso, in Baja California, Mexico, in 2017. The farm is a joint operation between ProGreen and Inmobiliaria Contel, the land owner. Starting from raw land and developed into what is now approximately 100 acres of jalapeno chili peppers at Rancho Arenoso near the town of El Rosario, the farm is now approaching the peak of its 2018 harvest.
In December of 2017, ProGreen's wholly-owned U.S. distribution subsidiary, ProGreen Farms US, LLC (FarmsUS), executed an agreement with Huy Fong Foods, Inc. (Huy Fong), maker of the original Sriracha chili sauce, to supply a minimum of 2,500 tons of red chili peppers in 2018. As of yesterday, FarmsUS has delivered 47 truckloads of red jalapeno peppers to Huy Fong in Irwindale, California, representing about 900 tons (1.8 million pounds).
"The yield is increasing, now about 10 trucks per week," said Jan Telander, Chairman and CEO of ProGreen, "and we are now expecting to harvest well over 2,500 tons this year. I am very happy with the results, especially with this being the first 'regular' season for the farm."
About ProGreen US, Inc.
ProGreen US, Inc. (ISIN: US74327M1027), headquartered in San Diego, California, is engaged primarily with agriculture and real estate land development projects in Baja California, Mexico. We are supplying chili peppers to Huy Fong Foods; and a totally green, 5,000 acre oceanfront resort-style vacation and retirement community is being planned, called Cielo Mar. Visit www.progreenus.com. Follow on Twitter: @ProGreenUS.