ASX-listed fertiliser maker Fertoz has struck a deal to supply its organic rock phosphate to a top California-based agribusiness.
Phosphate rock is mainly used in the production of phosphate fertilisers for agriculture.
Fertoz (ASX:FTZ) has inked a distributor and marketing agreement with Ag Unlimited, a branch of the Lyman/Tremont Group.
Ag Unlimited previously carried a rock phosphate product, but products manager John Hildebrand said quality and price were the reasons the company chose to switch to Fertoz’s products.
Melbourne-based Fertoz is aiming to sell 10,000 tonnes of its organic rock phosphate in the North American market in 2018.
The initial two-year contract will see Ag Unlimited distribute and market Fertoz’s phosphate products in a range of dry and liquid organic fertilizer applications.
Fertoz shares climbed 2.6 per cent to 8c by 11.30am AEDT on Monday.
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