THE New Britain Palm Oil (NBPOL), through its agent Pacific Rim Plantations Services, has entered into a five-year deal to supply a leading overseas confectionary company with significant quantities of palm oil.
The deal will enable NBPOL to supply Ferrero, a confectionary group based in Italy and Luxembourg, with quality palm oil products.
In an announcement last Friday, NBPOL chief executive officer Nick Thompson, said the company was pleased to do business with Ferrero.
“New Britain Palm Oil is very pleased to be supplying such a highly- regarded and successful global confectionary group such as Ferrero.”
Mr Thompson said his company and Ferrero had a similar high regard and respect for the environment, adding that they both recognised the growing demand for palm oil from oil mills “that source ethically and sustainably produced products”.
“Ferrero has an excellent reputation for quality and is well-known for only selecting suppliers that can offer the best materials and service.
“In New Britain, we are delighted to be working with Ferrero to supply them, for the long term, with our sustainable palm oil products and developing the relationship further,” Mr Thompson said.
The supply deal with Ferrero is direct with an end-user of NBPOL’s products, rather than with an industrial intermediary.
This would enable Ferrero to gain better control of its supply chain and allow NBPOL to specifically tailor its products for a major consumer.
Ferrero’s corporate social responsibility director Alessandro Cagli said his company would be working closely with NBPOL to assure them of sustainably produced palm oil.