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Chinese raisin hopes

This article was originally published in Foodnews

Shares of Lontrue, a Chinese raisin producer, rose 5.51% last week, after the company attracted investments of CNY6.2 million (USD955 000) from two institutional investors, reported the National Business Daily. Lontrue recorded revenue of CNY188 million from its raisin business in 2010, with a gross margin of 30.08%. Over a two year period, domestic raisin prices have increased to USD2 100/tonne, it has been reported. An analyst from a securities broker said global raisin prices will stay high and China will become a major exporter of raisins.

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