Australia-based infant-formula exporter Jatenergy has signed a two-year distribution agreement for milk powder in South Korea and Japan.

Captain & Crews (C&C) will be the Sydney-listed company’s sole agent for its Neurio Lactoferrin Milk Powder in South Korea and Japan, and also what it described as the “online celebrity market” in China. 

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Jatenergy (JAT) already has a presence in China after signing a number of recent supply deals including Sinopharm – China National Pharmaceutical Group Corp. – via its subsidiary Green Forest International. It also bought a majority stake in local milk powder business Golden Koala Group as a key entry point into China.

However, in an announcement to the Australian Securities Exchange today (25 February), New South Wales-based Jatenergy said it is making plans to manufacture its own products and is seeking a suitable facility in Sydney as part of a diversification strategy to enter new markets outside of China.

The company also said it is looking to expand its portfolio.

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“The board of JAT recognises that there is significant risk in relying on its product range being exported to a single country,” the company explained. “The current global trading environment demonstrates the uncertainty with regard to trading issues between Australia and other countries. The board is therefore seeking multi-country trading opportunities with more ranges of products. The C&C agreement reflects the result of JAT’s diversification strategy and the board will continue to seek more trading opportunities with more nations.”

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C&C sells food, health and skincare products in South Korea, Japan and China such as lactoferrin and infant formula milk powder, and abalone-based sauces and noodles.