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Verde announces major order by repeat customer

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World Fertilizer,

Verde AgriTech Plc has announced that a leading Brazilian agricultural producer has purchased 3250 t of Super Greensand®, following a smaller purchase of 198 t last year.

In this sale, the price per tonne of the product was higher than the reference price adopted in the company’s pre-feasibility study, announced on 27 November 2017. According to Verde, this reflects the increase in potash prices in global markets.

Verde commenced its relationship with the buyer in 2014 with the aim of meeting the potash requirements of its plantations. The buyer was kept abreast of the company’s various field tests with Super Greensand.

Cristiano Veloso, the President and CEO of Verde, said: “It is gratifying to see a return costumer placing any order. It is even more pleasing to see a significantly enlarged second order. This growth in demand for Super Greensand is what we expect from the market, both from famers that run a trial over a harvest period and from farmers that learn about prior success from neighbouring farms.”

The company’s pre-feasibility study shows an NPV of US$1.98 billion and IRR of 290%. The study considers an exponential growth in production. Phase 1 production capacity will be 0.6 million tpy; Phase 2 will be 5 million tpy; and Phase 3 will be 25 million tpy. Verde is currently constructing its own production plant, to enter into operations in 2H18. It will have a capacity of approximately 0.3 million tpy at a cost of approximately US$500 000.

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