• Seaweed offtake agreement signed with China-based Carrageenan producer Quanzhou Bailijie Biotechnology Co., Ltd.
• BP8 intends monthly sale of 100 metric tons of seaweed with scope to increase
• Indicative price range of USD1,050 -1,500 per metric ton of seaweed

BPH Global Ltd (ASX: BP8) has announced that its wholly owned, Indonesia-based subsidiary PT BPH Global Indonesia has entered into a seaweed offtake agreement with China-based company Quanzhou Bailijie Biotechnology Co., Ltd. (QBB) for the supply of high quality Eucheuma cottonii seaweed. The agreement is for a term of two years, with an effective commencement date of 1 April 2025. As of the commencement date, the parties have agreed on an expected monthly purchase volume of 100 metric tons of Eucheuma cottonii seaweed, with the intention to progressively increase the monthly supply volume to 500 metric tons by the end of the term. The company anticipates that the monthly average prices for a metric ton of seaweed will range between USD1,050-1,500, based on historical market prices. The agreement includes key terms such as exclusivity, quality specifications, required documentation, payment terms, and mode of payment.