ML Macadamia will get more cash under new contracts
Thursday February 03 2011
ML Macadamia Orchards has renegotiated its macadamia nut purchase agreements with Mauna Loa Macadamia Nut Corporation, which will include a hike in price for its supplies.
The new agreement extends the current contract, but divides it into three agreements that have one-, two- and three-year terms. All three agreements are effective January 1, 2012, and one of the three agreements will be subject to renewal each year, said Dennis Simonis, president and chief executive of ML Macadamia Orchards'.
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