Global food commodities trader Bunge’s subsidiary Agribusiness Singapore has entered into an agreements with Oleo-Fats to distribute its products for the foodservice, retail and food processor industries in the Asia-Pacific region.
Under the agreement, OFI, a wholly-owned subsidiary of D&L Industries, will be Bunge’s exclusive commercial partner to import, market, sell and distribute packaged softseed oils into Philippines.
On the other hand, Bunge will become OFI’s exclusive commercial partner to export, market, sell and distribute coconut oil under its Farm Origin brand into countries in the Asia-Pacific region.
Bunge’s global head of oils Aaron Buettner said: “By leveraging OFI’s capabilities in Philippines and their relationships with customers including quick service restaurant chains, snack food manufacturers, biscuit and confectionery manufacturers, industrial bakeries, and hotels, restaurants and caterers, Bunge will be able to fully participate in an important and growing destination market.
“We also look forward to being able to provide coconut oil supplied by OFI as part of our Farm Origin portfolio. This is a premium oil that fits well with our other offerings for retail and foodservice in the Asia-Pacific region.”
Oleo-Fats managing director Vincent Lao said that the partnership enables the company to expand its product range for customers in Philippines.
Lao said: “We’re also seeking to grow by adding coconut oil to Bunge’s Farm Origin brand. By leveraging Bunge’s logistics and capable commercial and marketing teams, we’ll be able to participate in broader regional growth as well.”
In July, Bunge and Wilmar International have announced that they would set up a joint venture in Vietnam aimed at leveraging their operations in Asia.
