May 24, 2011 -
Nicaragua: XAGRO S.A. Announced that they have signed a purchase agreement with Jam LLC to buy 5,000 MT of red beans from China that will be sold to importers throuout Central America to help ease market pressure and lower the high prices caused by recent shortages.

"The high market prices are effecting every family in Central America and can be easily lowered by bringing in some high quality red and black beans from China where we currently have excess inventory just sitting in our warehouses" explained Ronald Ehli, CEO of XAGRO. "Unfortunatley domestic production alone is not enough to meet the demand." Ehli said, "There is no reason for these high prices when the problem can be solved so quickly and easily" he continued. "This will also make it easier for importers and Government agencies to purchase beans since they can buy locally."

Guatemala, Honduras, Costa Rica, Nicaragua, and El Salvador have all been in the news lately with stories of high prices, low availabity, and problems sourcing frijoles from other Countries.

About XAGRO S.A.: Xagro is an exporter of fresh produce from Nicaragua with products being sold to importers, brokers, institutional buyers, and large grocery chains in the United States and Canada. XAGRO is owned by American and Nicaraguan stockholders and is based in Nueva Guinea. For more information visit: www.xagrosa.com