Updated BRC cert and Market report from Phuc An.

Dear

Please be advised of our market information as follows:

All RCN crops in Vietnam and other countries are coming to an end. The purchasing of
imported RCNs from West Africa by Vietnamese buyers is becoming increasingly high.
Majority of shipments will arrive in May/June.

The kernel market has gone from being active to settling down within a couple of weeks
when prices dipped at $4.35-$4.40/lb for W320 basis FOB. Traders have been refraining
from purchasing/selling large quantities and mostly reserve their businesses to
shipments in proximity. High processing costs allow sellers no room for discount while
buyers do not foresee paying more than currently offered prices. This has put the market
to a halt.

Phuc An's price, basis FOB HCMC, packed in 50lb vacuum bag, for May/June shipment is
as follows:

W240            $4.60/lb        $10.14/kg

W320            $4.45/lb        $9.81/kg
WS               $4.30/lb         $9.48/kg
LP                 $3.70/lb        $8.16/kg   

I appreciate your professional opinion on the matter.

Please find attachment for our updated BRC cert also.

Thank you.
Best regard,