Carrinho would have the results from the last growing season so a formal offtake is just a matter of time.
Minbos’ field trials cover the majority of crops grown in the various soil types and climates of the main growing regions. But not every crop and soil type in every growing region was included in the trials. Even though, imo, Carrinho should have just been able to extrapolate the data from the Minbos field trials, I assume they want to be absolutely certain the fertiliser they purchase is going to be effective for every farmer they supply before committing to a long term formal offtake agreement.
The worse case scenario would be Carrinho discover the fertiliser might not be suitable for a small percentage of farms they were planning to supply and reduce the purchase volume accordingly. But based on the scope of the Minbos trials, this could only be a small number of niche farms in outlier locations. But still, they wouldn’t want to commit to buying fertiliser they don’t want. By now there is no reason that Carrinho couldn’t sign a formal sales agreement for the farms they know are suitable for our fertiliser while they continue to confirm the rest if they think they need to.
It quite possibly could have been minbos who insisted on waiting for one large formal Offtake after field trails so the current binding MOU had beefier numbers they could take to the financiers.
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