Global agribusiness giant Bunge has entered a distribution agreement with Oleo-Fats Inc, which will become Bunge's exclusive commercial partner to import, market, sell and distribute packaged softseed oils into the Philippines, Bunge announced on 30 September.
Bunge Agribusiness Singapore will become Oleo-Fat's exclusive commercial partner to export, market, sell and distribute coconut oil under its Farm Origin brand into countries in the Asia-Pacific region.
"We're delighted to have Oleo-Fats as our distribution partner," said Aaron Buettner, Bunge’s global head of oils. "By leveraging Oleo-Fat’s capabilities in the Philippines and its 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 Oleo-Fats as part of our Farm Origin portfolio. This is a premium oil that fits well with our other offerings for retail and food service in the Asia-Pacific region."
Oleo-Fats is a wholly-owned subsidiary of D&L Industries, a Filipino company which manufactures customised food ingredients, speciality raw materials for plastics and oleochemicals for personal and home care use.
"Partnering with Bunge gives us an even broader range of products to serve customers in the Philippines and strengthens our position as a supplier of choice to our country's fast-growing foods service industry," said Vincent Lao, managing director of Oleo-Fats.
"We're also seeking to grow by adding coconut oil to Bunge's Farm Origin brand.”