BPH Global Ltd (ASX:BP8) Announces Binding Sales Agreement
Sales Cooperation Agreement
BPH Global Ltd (ASX:BP8) has entered into a binding Product Sales Cooperation Agreement with Indonesia-based PT. Kebula Raya Bestari. Under the agreement, BP8 intends to procure and sell 200 metric tons of seaweed monthly, with an indicative price range of USD1,050-1,500 per metric ton based on Kebula’s past six months of sales. Kebula will provide accounts management and sales logistics, including warehousing, processing, and delivery of seaweed to BP8 customers focused on carrageenan production.
Executive Comments
Managing Director Matthew Leonard said, “The Sales Cooperation Agreement with Kebula represents an important opportunity for the Company to fast track its seaweed supply arrangements with offtake buyers in Indonesia. Kebula operates as a buyer and supplier of quality Indonesian seaweed to Indonesian and international customers. The BP8 Group’s initial focus will be on customers who process seaweed to produce Carrageenan.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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