RLF AgTech (ASX:RLF) - CEO & Managing Director, Ken Hancock
CEO & Managing Director, Ken Hancock
Source: Ken Hancock/LinkedIn
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Plant nutrition company RLF AgTech (RLF) expands its presence in Southeast Asia after signing a long-term agreement with a Cambodian distributor
  • Under the five-year agreement, Total Agree must purchase and distribute a minimum quantity of RLF plant nutrition products
  • Stage one of the agreement concerns a minimum sales commitment of US$1.7 million (A$2.3 million) over the initial five years
  • This agreement forms a key part of RLF’s strategy to expand into new distribution channels across the globe
  • Shares in RLF are up 7.41 per cent on the market and are trading at 14.5 cents at 2:05 pm AEST

Plant nutrition company RLF AgTech (RLF) has expanded its presence in Southeast Asia after signing a long-term agreement with a Cambodian distributor.

Under the five-year agreement, Total Agree must purchase and distribute a minimum quantity of RLF plant nutrition products to continue the exclusivity of the agreement.

Stage one of the agreement concerns a minimum sales commitment of US$1.7 million (A$2.3 million) over the initial five years.

Assuming the minimum sales are achieved, the agreement can be extended for a further five years.

This agreement forms a key part of RLF’s strategy to expand into new distribution channels across the globe.

RLF’s priority focus is on countries with substantial agricultural sectors and will benefit from RLF’s products to boost crop yield by between 10 and 30 per cent.

The company hopes it will reduce the use of traditional fertilisers by up to 20 per cent and improve the nutritional content of the food and the health of the soil.

“We are thrilled that our product range is available to the Cambodian farming sector which will assist continued efforts by the agricultural sector in this emerging economy to become more productive while simultaneously guarding against soil degradation and the overuse of traditional fertilisers,” Managing Director Ken Hancock said.

“The continued growth in the number of overseas countries selling our products demonstrates that we are successfully delivering on our stated intention to grow our international presence.

“We look forward to informing the market about our continued market penetration and the delivery of other growth initiatives over coming months.”

Shares in RLF were up 7.41 per cent on the market and were trading at 14.5 cents at 2:05 pm AEST.

RLF by the numbers
More From The Market Herald
Immutep (ASX:IMM) - Executive Director and CEO, Mark Voigt

" Immutep (ASX:IMM) granted Japanese patent for IMP761

Immutep (ASX:IMM) is granted a Japanese patent for its pre-clinical product candidate, valid until the year…

" Brookside Energy (ASX:BRK) completes isolation plug milling at Flames Well

Brookside Energy (ASX:BRK) successfully completes milling out the isolation plugs used in the multi-stage stimulation at…
The Market Herald Video

" Inca Minerals (ASX:ICG) announces Adam Taylor as Chairman, restructures board

Inca Minerals (ASX:ICG) yesterday announced a restructure to its board, with Adam Taylor appointed as Chairman.

" Anson Resources (ASX:ASN) expedites resource upgrade at Paradox, US

Anson Resource (ASX:ASN) announces plans to expedite its JORC Resource upgrade at the Paradox lithium project…