KCGO Members Update on Agreements

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Dear Kalamia Members,

UPDATE on Agreements

This morning your Directors and BDCG met with the QSL Board in Townsville to gain a proper understanding of where QSL is in its negotiation of an On Supply Agreement with Wilmar, this being the critical agreement for QSL to be able to offer itself as a GEI Marketer.

They advised they are in continuing discussions with Wilmar, but are not prepared to accept some of the terms Wilmar are proposing. They are considering options if there is no breakthrough in discussions in the near future. These may require some costs to growers to be set against the additional revenue QSL may achieve for growers through their marketing and selling expertise.

Your Directors pressed the need for QSL to make its position very clear very soon, not only so growers can make reasonable decisions about Forward Pricing with Wilmar or holding off in the hope of being able to price with QSL, but also so that BDCG can determine what to do in its next negotiations with Wilmar or in any call for arbitration.

It was agreed that the next few weeks will be very important for all involved in determining how and when Agreements will occur.