SHANGHAI, CHINA — Nisun International Enterprise Development Group Co., Ltd., through its controlled affiliate, Fintech Supply Chain Management, has entered into a wheat flour sales and purchase agreement with Shandong Binliang Industrial Development Co. Ltd.
Binliang purchases and sells food additives, feed ingredients, grain, edible agricultural products, pre-packed food and primary agricultural products, and provides related storage and warehousing services. The agreement is part of Shanghai, China-based Nisun’s supply chain business strategy to increase its presence and accelerate its business growth in the wheat flour market with purchase orders from its customers fulfilled by Binliang.
The wheat flour market has been growing rapidly in China, the world’s most populous country with 1.4 billion people. Wheat flour is a key ingredient in various traditional Chinese dishes, such as noodles, dumplings, and steamed buns. China is also the world’s largest producer of wheat, forecast by the International Grains Council to harvest 137.7 million tonnes in the 2023-24 marketing year.
“The collaboration is expected to significantly bolster our business footprint and drive the exploration of new expansion in the wheat flour market," said Xiaoyun Huang, chief executive officer of Nisun. "We believe that this partnership will provide us with a competitive advantage and allow us to offer our customers an even wider range of quality agricultural products and services.”