This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Maple Leaf Reforestation signs China fertilizer deal 2009-11-18 18:17 ET - News Release Mr. Raymond Lai reports
MAPLE LEAF SIGNS 1.5 MILLION RMB ORGANIC
FERTILIZER SUPPLY AGREEMENT
Maple Leaf Reforestation Inc. has signed an agreement with the town of Lingquan, Hunan, in China to supply organic fertilizer to the town-operated starch processing project.
Under the agreement:
The town of Lingquan, Hunan, is to grow 10,000 mu (1,650 acres) of sweet potatoes starting in early spring 2010. The sweet potatoes will be used for processing starch.
Maple Leaf will be responsible for providing 250 kilograms of fertilizer per mu or 2,500 tonnes in total for the whole project.
The fertilizer will be purchased by Lingquan for approximately $100 (600 renminbi) per tonne, which is a discounted price. The total value of the agreement is approximately $234,000 (1.5 million renminbi). Maple Leaf has provided the fertilizer to Lingquan at a discounted purchase price because it believes that forming a relationship with Lingquan is priority No. 1. If Lingquan is satisfied with the quality of the fertilizer, Maple Leaf hopes that the relationship will grow and a higher price will be obtained for any future fertilizer supply agreements that may be entered.
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