Summary by Moomoo AI
On January 2, 2024, African Agriculture Holdings Inc., through its subsidiary African Agriculture, Inc. (AFRAG), entered into a significant multi-year supply agreement with Dr. Kahn, a diversified holding company based in South Korea. The agreement stipulates that AFRAG will supply Dr. Kahn with alfalfa from 700 hectares of land currently under development, with the price subject to a pre-determined benchmark and periodic adjustments. Dr. Kahn will handle shipping logistics costs and any expenses upon the alfalfa's arrival in South Korea. Payments for each shipment are due within 30 days of receiving the bill of lading, and quality inspections are to be conducted at the port of loading. In case of non-conformity, Dr. Kahn has the right to either require replacement...Show More
