Banks DIH Limited, Morning Glory Inc. (MGI) and the Institute of Applied Science and Technology (IAST) yesterday announced the signing of a distribution agreement which appoints Banks as the exclusive distributor of MGI’s locally produced rice cereals.
A release from Banks said that the products are manufactured at a state-of-the-art facility in Anna Regina, Region 2, Essequibo Coast. The project was funded by the Government of Guyana through an initiative led by now President Irfaan Ali in 2014, when he was the Minister of Tourism, Industry and Commerce. The sod was turned for the facility by former President Donald Ramotar, Ali and other members of Government in March of 2015. The products and manufacturing process were developed by IAST which also spearheaded the construction of the facility, procured the equipment and operationalized the plant.
The release noted that the plant has been operational since late 2017 and produces two varieties of rice cereals: Original and Jaggy the Jaguar Rice Krunch. Both products are available in 225g and 500g packets.
The release added that the nutritious cereals, which are well-packaged, successfully compete against mature brands in a very competitive market segment. Furthermore, the Morning Glory Rice cereals are manufactured using greater than 99.5% locally sourced materials and entirely by local Guyanese workers. The cereals are nutritionally supplemented by a vitamin cocktail which is specifically designed for the Caribbean diet.
The release stated that Banks has one of the most extensive distribution networks in Guyana, “reaching the smallest of retailers in the furthest reaches” of the country.
The partnership between Banks and MGI is a natural one, the release said, as it builds on a partnership already established between IAST and Banks, where another of the Institute’s products, the Pakaraima Flavours Sundried Tomato Ketchup and Salad Dressings are utilized exclusively by Banks in its food service business and restaurants across Guyana.
The growing success of Morning Glory Rice Cereals in the Guyanese market caught the attention of Banks Sales and Marketing Executive, Carlton Joao, the release revealed. Joao and a senior team from Banks toured the Morning Glory facility in Anna Regina and were very impressed by the plant, its safety and quality protocols and the professionalism of the staff.
Clifford Reis, Chairman of Banks DIH Ltd, commented, “Banks DIH Ltd has a deliberate focus on maximizing Guyana’s potential by engaging local people, productive capacity and local resources. We are delighted to deepen our partnership with the Institute of Applied Science and Technology by proudly distributing another of the Institute’s innovative products: The Morning Glory Brand of Rice Cereals, which are now produced by Morning Glory Inc. The emphasis of adding value to local agricultural commodities through agro-processing aligns well both at a philosophical level and as a commercial focus for Banks DIH Ltd. Morning Glory Rice Cereals are superior products, equal to and in many cases superior to the imported cereal on local supermarket shelves.”
Marketing Head of IAST, Raveena Mangal, who is also partially seconded to Morning Glory Inc. said, “securing Banks DIH Limited as the Distributor for Morning Glory Rice Cereals is transformative for our young company. Banks is a venerated food and beverage producer in Guyana. To be associated with the Banks brand and to pass their strict requirements for quality and competitiveness is a source of deep pride for Morning Glory staff”.
