Singapore chocolate maker Petra Foods (PEFO.SI) said on Wednesday it has signed a memorandum of understanding with PT Nestle Indonesia, a Jakarta-based subsidiary of Nestle S.A. (NESN.VX), for cocoa farming in South Sulawesi, Indonesia.
Petra Foods will team up with PT Nestle Indonesia to drive higher productivity and better quality of cocoa beans in the region, the firm said in a statement.
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