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China’s Wholly Moly Wants To Replace Rice With Whole Grains In Country’s Diet

July 24, 2020: 12:00 AM EST
The young Shanghai-based company has its marketing eyes fixed on the country’s younger, more health-conscious generation with its instant oatmeal made of oat bran. The company raised several million dollars from C Ventures, led by a Hong Kong billionaire, to take advantage of China’s burgeoning health food market. “China has a severe lack of wholegrain food options,” said Claire Fang, founder and chief executive. “We want to introduce [whole grains] into young people’s diet in a way that is easy for them to embrace.” The market for natural health food in China is forecast to expand to $26 billion in value by 2022, an annual rate of 12 percent since 2017. Wholly Moly, which generates 90 percent of its income from e-commerce channels, including a store on Tmall, posted sales of $15 million in 2019 and hopes to triple that this year. The company works with farms and milling factories in the Midwest and northern U.S. as well as southern Canada, because the oats harvested there are said to be more aromatic and chewier than cheaper oats planted in China or Australia.[Image Credit: © Yum Delight, Inc./WhollyMolyChina]
Yujing Liu, "Health food start-up Wholly Moly aims to shake up the Chinese diet, swapping rice for American wholemeal oats", South China Morning Post, July 24, 2020, © South China Morning Post Publishers Ltd.
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