Shares of China Green Agriculture (CGA) rose nearly 11%, reversing direction after hitting a 52-week low, following a company announcement that it had signed a joint sales program with Nestle China to supply coffee bean farmers in China with fertilizer.
China Green said the company would provide its fertilizers to certified coffee bean farmers who sell their beans to Nestle.
The fertilizer company said coffee bean farmers would be able to get a better price for China Green products by dealing with the company directly rather than by purchasing from existing distributors.
In mid-day trade, CGA was up 10.77% to $2.88, after hitting a 52-week low of $2.56 earlier in the session.
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