RLF AgTech enters South-East Asia market inking AU$8 .8M sales and purchase agreement with TBFI
Technology-driven plant nutrition company RLF AgTech (HQ: Australia) has extended its distribution reach in the South-East Asia region, entering the Philippines market with the signing of an Exclusive Distribution Agreement with Taipan Brand Farms, Inc (TBFI), a fully owned subsidiary of Jardine Distribution Inc. (JDI). Furthering RLF AgTech’s wider strategy to play a role in bolstering food production and increasing distribution and sales globally.
The exclusive distribution agreement with TBFI allows TBFI to distribute RLF AgTech’s crop nutrition products throughout the Philippines aligned with their vision to be the marketing company of choice in the Association of South East Asian Nations (ASEAN) Region.
Executed agreement represents a significant RLF AgTech milestone achievement within an exciting and growing Philippines agriculture market. The agreement outlines an initial sales and purchase target of AU$8.78 million over the next five years with an option to extend by TBFI. The contract contains standard conversion to non-exclusive clauses for mandated non-performance and has a 5-year option for renewal assuming certain conditions are achieved.
RLF AgTech focuses on introducing its products into high growth agricultural markets that will benefit
from a 10% – 30% increase in crop yield, reduced reliance on traditional fertilisers and improvements
in soil resilience and health.
Field trials and import registration applications are due to commence including with RLF AgTech’s newly established VeridiumTM Seed Priming Technology. Further the agreement bolsters RLF AgTech’s key post IPO strategy to expand sales into its core South East Asia markets and into new global jurisdictions