BI Nutraceuticals, a leading U.S. raw material and ingredient supplier, has come to an agreement with Hongjiu Biotech that will make BI the exclusive North American distributor of its ginseng extract. The agreement will also allow BI to distribute other Honhjiu ingredients to its North American customers.
Hongjiu Biotech is a leading manufacturer of ginseng and other herbal extracts in China and claims to have one of the largest and most advanced extraction facilities in Northeast China. "Hongjiu operates its own pesticide-free, certified organic ginseng farms, which allows them complete control over the quality of their ginseng extracts at every stage from seed to cultivation to processing," said Walter Postelwait, Vice President of Sales and Marketing with BI Nutraceuticals. Hongjiu’s facility is ISO22000, HACCP, GMP, GAP, Kosher and Halal certified.
According to NBJ estimates, 2007 U.S. ginseng supplement sales were flat, with $95 million in sales. Ginseng sales peaked in the U.S. in 1997 $222 million. The 10 year compound annual growth rate since then has been -8% and it is now the 9th most popular single herb supplement. Total U.S. herb and botanical supplement sales reached nearly $4.8 billion in 2007. For more information on the agreement, visit www.binutraceuticals.com .