Gilching, Germany, Mar 19, 2012 (Thomson Reuters ONE via COMTEX) -- Acazis AG / ACAZIS AG signs its first CONTRACT for sale of 5000 tons of castor beans and appoints SINOETH Hong Kong International Group Limited as exclusive distributor for China, Japan, Korea, Ethiopia. . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.
Gilching, Munich, 19 March 2012 - Acazis AG based in Gilching, Munich signed a 5 year agreement with Sinoeth Hong-Kong International Group Limited on 15 March 2012. The agreement foresees the marketing and sale of all or part of Acazis AG's castor harvest. It will be renewed for a further five years should neither party decide to terminate the contract.
Sinoeth Hong Kong has committed to purchasing from Acazis AG, a minimum of 1000 tons of castor beans annually. The purchase price of the castor beans is based on the official prices indicated by the Indian Commodity Futures Exchange NCDEX (www.ncdex.com/MarketData/SpotPrice.aspx ) in India. At present the SPOT price for one ton of castor beans corresponds to approximately USD 720, -.
Sinoeth Hong Kong has excellent commercial contacts in both in Asia and beyond. Some of the companies with which Sinoeth Hong Kong currently collaborates include the following:
SDIC International Trade Co. Ltd.,
China National Light Industrial Products Imp. & Exp, Corporation,
China Star Int. Trade Co. Ltd.,
SinoTruk (Hongkong) Ltd.
Sandong Wuzheng Co. Ltd,
Quingdao Doublestar Tire Co. Ltd.,
Changzhou Dongfeng Agriultural Machinery Group Co. Ltd. and
JiangSu Sevencontinent Green Chemical Co. Ltd.
The terms and conditions agreed with Sinoeth Hong Kong already include the purchase of a minimum of 1000 tons of castor beans in 2012. Acazis has guaranteed delivery of the castor crop in two instalments - September and December of this year.
Patrick Bigger, CEO of Acazis AG, has expressed great pleasure in the company's partnership with Sinoeth Hong Kong. He states; "The signing of such a long-term contract with Sinoeth Hong Kong has opened the market for Acazis AG in the sale of castor in the Asian and, in particular, the large Chinese castor market. The conditions relating to a minimum annual purchase provide us with greater operational planning guarantees whilst at the same time minimising the risks for Acazis AG.
We are convinced that we have found in Hong Kong Sinoeth an experienced and very well-connected trading partner which will facilitate access to the world's most important castor importers. With this in mind, we very much look forward to both a fruitful and long-term cooperation."
Jason Xie, CEO of Sinoeth Hong Kong adds; "The contract signed with Acazis AG means that we have acquired one of the major producers of castor oil in the future for our customers in China and Asia. The long-term contract term of 5 years which will be automatically extended for a further 5 years after expiration, will greatly help us to consolidate and increase trade relations with our customers. China is one of the largest importers of castor beans and we are convinced that the quality of the harvest and the significant potential of the 50,000 hectare castor crop means important benefits for our company".
About the company
Acazis AG (Acazis) based in Gilching near Munich, operates in the cultivation and use of castor plants, the production of edible oils, the provision of any related services and the acquisition and management of companies and shareholding in related companies as well as the as the carrying out of Executive Board functions.
Conclusion: 50,000 hectares of castor production is a lot.. if they can get the same yield. In India the yield varies from 500kg/hectare to 1700kg/hectare. The fact is that people see the potential and castor plantations are coming up in Africa, South America, Mexico.. as the saying goes .. more the merrier. Looking forward to Jayant Agro Organics producing higher value added castor derivatives .. maybe India can start import castor seeds!!
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