RLF AgTech, an Australian AgTech company, has announced its entry into the Philippines market by signing an exclusive distribution agreement with TBFI, a fully-owned subsidiary of JDI. The agreement outlines an initial sales and purchases target of A$8.78 million over the next five years, with an option to extend by TBFI. This move into the Philippines market aligns with RLF AgTech’s post-IPO strategy to expand sales into its core South East Asia markets and new global jurisdictions.
As part of the agreement, field trials and import registration applications are due to commence, including with RLF AgTech’s newly established VeridiumTM Seed Priming Technology, designed to improve crop performance and yield while reducing the use of water and fertilizer. The entry into the Philippines market presents a significant opportunity for the Australian AgTech to showcase its innovative agricultural technology solutions and expand its reach into new and growing markets.
Ken Hancock, Managing Director of RLF AgTech, expressed his enthusiasm about the company’s products being made available to farmers in the Philippines through TBFI/JDI, a trusted market leader in the region. RLF AgTech is committed to supporting the farming sector in its efforts to increase production and improve crop quality through innovative agricultural technology solutions. By reducing farmers’ reliance on traditional fertilizers, RLF AgTech aims to promote sustainable farming practices that benefit both the environment and the farmers’ bottom line. Hancock’s statement underscores RLF AgTech’s commitment to expanding its reach into new markets and driving innovation in the agriculture sector.
Philippines Increase Investment In AgTech Solutions
In recent weeks, Metro Pacific Investments Corp. and LR Group have partnered to invest in a new vegetable greenhouse facility in the Philippines to improve the country’s agricultural productivity and food security. The facility, Metro Pacific Fresh Farms (MPFF), held its groundbreaking ceremony on February 20 and is expected to produce over 1,200 metric tons of high-quality vegetables annually. The project will utilize sustainable greenhouses and modern farming technologies, which are expected to reduce water and land usage, as well as the need for fertilizers and pesticides. MPFF will cover the entire value chain of vegetable production, from seedling production to packaging and marketing of the goods. Innovative Agriculture Industry Ltd., an affiliate of Israeli partner LR Group, will also be involved in the investment, marking the second collaboration between LR Group and MPIC. This partnership reflects both companies commitment to driving innovation in agriculture and supporting sustainable farming practices.
The establishment of MPFF is crucial for the Philippines, as the country seeks to improve its agricultural productivity and promote food security. President Ferdinand Marcos Jr. recently emphasized the importance of food security through increased agriculture and fisheries productivity during a nutrition security session at the World Economic Forum in Davos. The new vegetable greenhouse facility is a positive step towards achieving this goal and is expected to create job opportunities and stimulate economic growth in the region. Furthermore, by utilizing sustainable farming practices and modern technologies, MPFF will improve the quality and quantity of vegetable production and contribute to the long-term sustainability of the agriculture sector.