Fresh Harvest and the Organic Industry Grow Despite Economic Conditions
Posted on: Monday, 18 August 2008, 12:00 CDT
NEW YORK, Aug. 18 /PRNewswire-FirstCall/ -- Fresh Harvest Products, Inc. (BULLETIN BOARD: FRHV) announced today that it is very optimistic about its potential for growth in 2009. According to industry data, the US organic industry grew by 19% in 2007 to USD $19.2 billion, outpacing its historical 15 to 18 percent annual growth rate. Fresh Harvest intends to continue benefiting from this upward trend.
Organic food accounted for approximately 60% of the USD $26.7 billion natural and organic food market and a total of 3.3% of the USD $575 billion US foods market. Organic sales grew 17.2% for mass market retailers, which now account for a 63% of organic food sold in the US, offering major opportunities for Fresh Harvest as our distribution expands. The natural retail channel grew by 11.5%. April 2007-2008 dry grocery dollar sales growth in organics was 10 times greater than non-organics, by a 28.8% to 2.8% comparison.
"Although it is a challenging economic environment with significant pressures on our business, we will continue to grow by focusing our attention on expansion with our key customers. We are confident that we will create value for our shareholders by focusing on our long-term strategy of building shareholder equity" said Michael J. Friedman, Founder and President.
About Fresh Harvest Products, Inc.
Fresh Harvest Products, Inc. sells, markets and distributes natural and organic food products and beverages. Under the Wings of Nature(TM) brand name, Fresh Harvest offers a line of organic snack products, which primarily include health bars, coffee bars, tortilla chips and salsa. In addition, Fresh Harvest provides a grocery product line, which includes several varieties of whole bean and ground coffees, olive oil and beverages. The Company sells its products through specialty and natural food distributors to stores, specialty supermarkets and retailers. Additionally, Fresh Harvest represents a branded line of patent pending bio-remediation products. Fresh Harvest Products, Inc. is headquartered in New York City. Additional information is available at http://www.freshharvestproducts.com/.
Safe Harbor Statement
Statements contained herein that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. When used herein, the words "anticipate(s),""believe(s),""estimate(s),""plan(s),""intend(s)", "optimistic", "potential" and "expect(s)" and similar expressions, as they relate to Fresh Harvest Products, Inc., or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, such factors, including risk factors, discussed in the Company's periodic reports and other filings made with the U.S. Securities and Exchange Commission, including its Annual Report for the period ending October 31, 2007 filed on Form 10KSB, as filed on February 13, 2008. Except as required by the Federal Securities law, the Company does not undertake any obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or for any other reason.
Fresh Harvest Products, Inc.
CONTACT: Michael J. Friedman of Fresh Harvest Products, Inc.,+1-212-889-5904, investorrelations@freshharvestproducts.com
Web Site: http://www.freshharvestproducts.com/
Source: PRNewswire-FirstCall
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