In a joint statement today, INIX executive director Siva Kumar Kalugasalam said under the partnership, the company will secure the supply chain for Duria for 5,000 tonnes of frozen Musang King durians, 2,000 tonnes of durian paste and 1,000 tonnes of Musang King pulp over the next five years.
“In return, Duria will be able roll out its upstream vertical integration campaign,” he said.
Siva said the two companies plan to build three new primary processing plants with advanced technology; the first to be located in Perak while the location for the other two to be determined at a later date.
Describing the lucrativeness of durian industry, Duria chief executive officer Wong Woei Ming said the Musang King durian’s wholesale price is currently at RM60 per kilogramme (kg) while its annual average price for 2020 is expected to be at RM40 per kg.
He added that the average price of durian paste is currently at RM50 per kg and Musang King pulp at RM100 per kg.
Wong revealed that Duria had invested millions of ringgit in high-tech production technologies, including liquid nitrogen quick-freezing machines, semi-automatic fruit opening machines, pulp production vacuum technology and high-pressure sterilisation fruit puree to achieve the highest production efficiency and sanitary indicators for food safety and superior quality.
He said the company had also developed an innovative refrigerated fresh durian pastry and Musang King mooncake to cater to the growing global demand, adding that currently, Duria’s products are sold to the United States, Canada, Australia, New Zealand, China, Hong Kong and Singapore.
Wong also disclosed that the company is considering going public in the next two years to internationalise the brand and attract more foreign investments, but did not provide further details on the listing plan.