MANILA – Calata Corp has agreed to enter into an exclusive supply agreement with Siembra Directa Corp that will support the listed firm’s bid to become the leading farm inputs distributor in the country.
In a disclosure to the Philippine Stock Exchange, Calata said it will supply Siembra’s agricultural farm inputs, including seeds, agrochemicals and fertilizer, to support the latter’s farming operations throughout the country.
The deal will provide Calata additional sales of at least P1.6 billion over a 20-year period, the Bulacan-based company said.
“The company shall likewise continue to enter into other similar agreements with all other agricultural companies in the country to ensure a continued and strengthened growth in its business and at the same time promote and develop the agricultural industry for the benefit of the Filipino farmers as well,” Calata said.
In June, the company entered into a similar agreement with National Agribusiness Corp, an arm of the Department of Agriculture.
“With this aggressive business approach, the company expects that in the very near future, it shall become the top distributor of farm inputs all over the Philippines,” Calata said.