Sierra Leone Organic Cocoa Trading Agreement ...
November 18 2015 - 3:30AM
UK Regulatory
/**/
RNS Number : 1212G
Agriterra Ltd
18 November 2015
Agriterra Ltd / Ticker: AGTA / Index:
AIM / Sector: Agriculture
18 November 2015
Agriterra Ltd ('Agriterra' or 'the
Group')
Sierra Leone Organic Cocoa Trading
Agreement
Agriterra, the AIM listed pan-African
agricultural company, is pleased to announce that its wholly owned
Sierra Leone cocoa business, Tropical Farms Limited ('Tropical
Farms') has signed a trading agreement ('the Trading Agreement')
with a leading global company focused on natural, organic and
specialty foods (the 'Offtaker').
Under the terms of the Trading
Agreement, Tropical Farms will use its organic certification and
buying networks to source and supply up to 500Mt of Sierra Leonean
cocoa beans to the Offtaker during the 2015/2016 buying season; the
Offtaker will provide Tropical Farms with pre-financing for the
purchase of beans.
The Trading Agreement will leverage
Tropical Farms' extensive infrastructure in Sierra Leone, including
a 2000m² state-of-the-art warehouse in Kenema. As well as Tropical
Farms sourcing and supplying cocoa, the Offtaker has expressed its
interest in additional produce and both parties have committed to
explore opportunities for organic coffee and other organic food
crops.
Adrian Simpson, Managing Director of
Tropical Farms, said, "I am pleased to announce this Trading
Agreement, which marks a positive step in the recovery of the cocoa
industry in Sierra Leone following the Ebola outbreak in
2014. I am proud to say that Tropical Farms remained active
throughout the crisis - utilising our fleet of vehicles, logistics
hub in Kenema, and extensive warehousing facilities to support the
work of international aid agencies - which was an invaluable
support in the heart of the region most affected.
"Now that Sierra Leone has been
declared Ebola free, Tropical Farms and Agriterra firmly support
post-Ebola reconstruction and development works. This Trading
Agreement, with a leading international company focussed on
natural, organic and specialty foods, is a positive step in
rebuilding the cocoa industry in-country and redirecting
much-needed foreign investment back into Sierra Leone."
**ENDS**
For further information please visit
www.agriterra-ltd.com or contact:
Andrew Groves
|
Agriterra Ltd
|
Tel: +44 (0) 20 7408 9200
|
Adrian Simpson
|
Tropical Farms Limited
|
Tel: +44 (0) 77 1142 0332
|
David Foreman
|
Cantor Fitzgerald Europe
|
Tel: +44 (0) 20 7894 7000
|
Michael Reynolds
|
Cantor Fitzgerald Europe
|
Tel: +44 (0) 20 7894 7000
|
John Beaumont
|
Peat & Co.
|
Tel: +44 (0) 20 3540 1723
|
Charlotte Heap
|
St Brides Partners Ltd
|
Tel: +44 (0) 20 7236 1177
|
Hugo de Salis
|
St Brides Partners Ltd
|
Tel: +44 (0) 20 7236 1177
|
This information is provided by RNS
The company news service from the
London Stock Exchange
END
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