Alibaba to sign agreement to buy Thai durian

BANGKOK, May 28 (TNA) -- Chinese e-commerce giant Alibaba Group has announced that it plans sign a contract to purchase no less than 800,000 durians from five eastern cooperatives on June 13. Director-General of the Department of Agricultural Extension Phichet Wiriyapaha said that Alibaba Group has designated one of its subsidiaries to negotiate a deal to market Thai durians online for the Chinese market. If the deal is completetd, it expects to launch durian sales by early next year. Preliminary negotiations reached an agreement to buy 3,000 tons or 800,000 durians form five cooperatives. These include the Wang Sai Agricultural Settlement Cooperative Ltd and the Chum Saeng Chan Settlement Cooperative Ltd in Rayong province, the Makham Agricultural Cooperative Ltd in Chantaburi province, the Khao Saming Agricultural Cooperative Ltd and Agri-Business Development Cooperative Ltd in Trad province. Mr Phichet said that Chinese buyers desired pesticide free durians that comply with GAP standards. Farms in the eastern provinces have been growing durians this way for a long time and because they have formed themselves into cooperatives a steady supply to meet the Chinese contract is guaranteed. Mr Phichet went on to reveal that so far the negotiations has agreed that prices will be determined by market mechanisms and deliveries must be accomplished within seven days. The official signing of the contract between Alibaba and the eastern cooperatives is expected to be made on June 13 at the Ministry of Agriculture and Agricultural Cooperatives. Besides durians Alibaba is also showing interest in other local fruits such as mangosteen, longan, coconuts and passion fruit. (TNA) BANGKOK, May 28 (TNA) -- Chinese e-commerce giant Alibaba Group has announced that it plans sign a contract to purchase no less than 800,000 durians from five eastern cooperatives on June 13. Director-General of the Department of Agricultural Extension Phichet Wiriyapaha said that Alibaba Group has designated one of its subsidiaries to negotiate a deal to market Thai durians online for the Chinese market. If the deal is completetd, it expects to launch durian sales by early next year. Preliminary negotiations reached an agreement to buy 3,000 tons or 800,000 durians form five cooperatives. These include the Wang Sai Agricultural Settlement Cooperative Ltd and the Chum Saeng Chan Settlement Cooperative Ltd in Rayong province, the Makham Agricultural Cooperative Ltd in Chantaburi province, the Khao Saming Agricultural Cooperative Ltd and Agri-Business Development Cooperative Ltd in Trad province. Mr Phichet said that Chinese buyers desired pesticide free durians that comply with GAP standards. Farms in the eastern provinces have been growing durians this way for a long time and because they have formed themselves into cooperatives a steady supply to meet the Chinese contract is guaranteed. Mr Phichet went on to reveal that so far the negotiations has agreed that prices will be determined by market mechanisms and deliveries must be accomplished within seven days. The official signing of the contract between Alibaba and the eastern cooperatives is expected to be made on June 13 at the Ministry of Agriculture and Agricultural Cooperatives. Besides durians Alibaba is also showing interest in other local fruits such as mangosteen, longan, coconuts and passion fruit. (TNA)