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RLF AgTech (ASX:RLF) jumped over 10% in morning trades, albeit on low volumes, after inking a supply agreement with agritech giant Elders (ASX:ELD).
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RLF’s “crop nutrition” line of products will hit 500 stores with an Elders’ distribution deal under its belt across “245 rural stores.”
RLF sells what it calls its ‘Plant Proton Delivery Technology,’ which is really just another way of saying liquid fertilisers. Don’t let the simple get in the way of a good product name, I suppose. At any rate, this particular expansion continues a good run for RLF AgTech. Year to date, the stock’s up +120%.
“We are incredibly fortunate to have a supply agreement with Elders Australia — a name synonymous with Australian agriculture,” RLF MD Gavin Ball said.
No kidding – Elders, at a market cap of $1.3 billion, is one of the biggest players on the ASX’s Agribusiness index (though is significantly outshone by Incitec Pivot).
“This agreement is an important step forward as RLF strengthens its presence in the domestic market and delivers RLF’s crop nutrition solutions to growers across the country.”
That country-wide focus underpins RLF’s strategic rejuvenation of late to further boost a national rollout. Between the lines, perhaps the company was starting to worry that RLF mightn’t be a very familiar name.
“The company has bolstered its sales and business development team and made significant investment in training programs, technical resources, and in-store merchandising and sales materials to ensure an impactful introduction of its crop nutrition products to growers nationwide,” RLF wrote on Thursday.
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Wherever this sudden crisis of confidence came from, RLF AgTech shareholders were liking the news on Thursday. RLF last traded at 6.5cps.
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