Ingredion Colombia SA met with the CEO of Inca Worldwide (OTC-QEDN) in December 2018 to discuss the possibility of adding Sacha Inchi Powder to the current products. After the meeting, both companies signed an NDA. Ingredion Colombia SA sent the Sacha Inchi Powder samples for analysis and now we have stated the second face of product development. Ingredion Colombia SA produces formulas for children, pregnant women and people over 62. These formulas are sold to different Colombian government programs. GMS and Ingredion Colombia SA will continue to work together to develop formulas that can be provided to farmers that grow Sacha Inchi at a low cost. This way our farmers can benefit from the Sacha Inchi they grow.
We expect to have two distribution contracts before the end of the first quarter of 2019. One distribution contract for Grupo Nutresa and one distribution contract for Ingredion Colombia SA