Stanley Agriculture Services Co., a wholly-owned subsidiary of Stanley Fertilizer Co. (002588.SZ), signed an agreement with Yihai Kerry (Yanzhou) Oils and Grains Industry Co. to establish strategic cooperation in grain purchases and sales, Stanley announced on Friday.
Yihai Kerry (Yanzhou) Oils and Grains Industry Co. is a foreign enterprise invested by Wilmar International, one of the world biggest grain, oils and farm products suppliers and traders, and owns peanut crushing plants, flour mills and peanut screening factories respectively having annual capacity of 210,000 metric tons (tonnes), 330,000 tonnes and 10,000 tonnes.
According to the agreement, Stanley Agriculture Services' grain supply will give priority to Yanzhou Oils and Grains while the latter will give preferences to Stanley Agriculture for its grain purchases.
Stanley said that the cooperation could further extend its grain sales channels and improve its profitability.
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