Exhibit 10.29(b)

                              CONSULTING AGREEMENT

This Consulting Agreement ("Agreement") is made and effective as of the 11th day
of  September,  2002,  by and  between  David  C.  Storbeck,  10  Arthur  Place,
Montville,  NJ 07045,  ("Consultant") and Philipp Brothers Chemicals,  Inc., One
Parker Plaza, Fort Lee, NJ 07024 ("Company").

NOW, THEREFORE, Consultant and Company agree as follows:

1.    Engagement.

Company hereby engages Consultant, and Consultant accepts engagement, to provide
to Company the following services:

      Consultant shall provide  financial and accounting  services and report to
      Gerald K. Carlson,  Chief Executive Officer and Arthur  Henningsen,  Chief
      Financial   Officer  shall  provide  such  services  as  may  be  mutually
      determined.

2.    Term.

Consultant  shall provide  services to Company  pursuant to this Agreement for a
term commencing as of September 11, 2002 and terminating on December 6, 2002.

3.    Place of Work.

Consultant shall render services  primarily from Company's  location,  but will,
upon request  provide the services at such other places as reasonably  requested
by Company as appropriate for the performance of particular services.

4.    Time.

Consultant's daily schedule and hours worked under this Agreement on a given day
shall be by mutual  agreement  but shall  generally  be subject to  Consultant's
discretion.  Company  relies upon  Consultant  to devote  sufficient  time as is
reasonably  necessary  to  fulfill  the spirit  and  purpose of this  Agreement.
Consultant further agrees to be available for meetings at such times and at such
locations as the Company may reasonably require.

5.    Payment.

Company  shall pay  Consultant  at the rate of  $1,000.00  per day for  services
performed  pursuant  to  this  Agreement.   Consultant  shall  be  paid  weekly.
Consultant  shall be reimbursed for all other reasonable out of pocket expenses,
evidenced by a written  receipt,  incurred in connection with the performance of
services under this Agreement,  provided,  however, that no expense in excess of
Five  Hundred  ($500.00)  dollars  may be  incurred  without  the prior  written
approval of the Company and, further provided,  that all travel,  hotel,  rental
car and other  transportation  related arrangements should be in compliance with
the Company's Travel and Business and Entertainment  policies.  Consultant shall
have the use of a Company car during the term of this Agreement.
<PAGE>

6.    Covenant Not to Compete.

During the term of this Agreement,  Consultant shall not directly or indirectly,
either for his own account,  or as a partner,  shareholder,  officer,  director,
employee,  agent or otherwise;  own, manage,  operate,  control, be employed by,
participate  in, consult with,  perform  services for, or otherwise be connected
with any business  the same as or similar to the business  conducted by Company.
In the event  any of the  provisions  of this  Section  6 are  determined  to be
invalid by reason of their  scope or  duration,  this  Section 6 shall be deemed
modified  to the  extent  required  to cure the  invalidity.  In the  event of a
breach, or a threatened  breach, of this Section 6, Company shall be entitled to
obtain an injunction  restraining  the commitments or continuance of the breach,
as well as any other legal or equitable remedies permitted by law.

7.    Intellectual Property.

Consultant hereby assigns any and all rights, title and interest, including, but
not limited to, patents,  copyrights,  tradesecrets  and any and all proprietary
rights to any inventions,  processes,  creations,  plans, programs, or any other
material  developed in the course of  performance  of services  pursuant to this
Agreement.  All work performed  hereunder and any and all  materials,  products,
inventions,   processes,  creations,  plans,  programs  or  any  other  material
developed or produced in the course of performance  of service  pursuant to this
Agreement  shall be the  property  of the  Company  and all title  and  interest
therein shall vest in the Company.  All such  materials  which would qualify for
copyright  protection  under US copyright laws shall be deemed to be "works made
for hire"  under  such  copyright  laws.  Both  parties  acknowledge  and agree,
however,   that  Consultant  shall  retain  the  right  to  use  its  knowledge,
experience,  expertise  and  know-how  for  other  projects  for  other  clients
notwithstanding the provisions of this Agreement.  Consultant agrees to give the
Company such assistance, at the Company's expense, as may be required to perfect
any assignment of rights described in this Section 7.

8.    Publications.

Consultant  agrees  that  any  proposed   publication  written  or  prepared  by
Consultant as part of Consultant's  services under the Agreement or that relates
to the work performed  hereunder must be reviewed and approved in writing by the
Company prior to submission for publication.

9.    Confidentiality.

As part of the  performance of services  hereunder,  the Company may disclose to
Consultant certain Confidential Information.  "Confidential Information" for the
purposes of this Agreement shall include Company's  proprietary and confidential
information  such as,  but not  limited  to,  customer  lists,  business  plans,
marketing  plans,  financial  information,   designs,  drawing,  specifications,
models, software, source codes and object codes.

During  the term of this  Agreement,  and  thereafter  for a period  of five (5)
years,  Consultant  shall not,  except as  provided  herein,  without  the prior
written consent of Company, disclose to anyone any Confidential Information.

The Confidential  Information  will be kept  confidential by Consultant and will
not be used in any way detrimental to Company. The Confidential Information will
not be used other than in connection  with the  Evaluation,  and Consultant will
safeguard the Confidential Information from unauthorized disclosure.  Consultant
may, however, disclose the Confidential Information to its Representatives,  but
only  if such  Representatives  need to know  the  Confidential  Information  in
connection with the Evaluation.


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<PAGE>

Consultant will (i) inform its Representatives of the confidential nature of the
Confidential Information and of this Agreement,  (ii) cause such Representatives
to treat the  Confidential  Information  confidentially  and not to use it other
than in connection with services to be provided under this Agreement,  and (iii)
be  responsible  for any improper  use of the  Confidential  Information  by its
Representatives.

This  Agreement  will be  inoperative  as to such  portions of the  Confidential
Information which (i) are or become generally available to the public through no
fault or  action  by  Consultant  or its  Representatives,  (ii)  are or  become
available to Consultant or its Representatives on a nonconfidential basis from a
source, other than Company or its Representatives,  provided that such source is
not   prohibited   from   disclosing   such   portions  to   Consultant  or  its
Representatives  by a  contractual,  legal or fiduciary  obligation  to Company,
(iii)  was in  possession  of  Consultant  or its  Representatives  prior to its
disclosure except that Confidential Information disclosed prior to the execution
of this Agreement  shall be deemed to have been disclosed  under this Agreement,
or (iv) has been or is independently  acquired or developed by Consultant or its
Representatives without violating any of the Consultant's obligations under this
Agreement and without the use of any Confidential Information.

10.   Termination.

Consultant  may  terminate  this  Agreement for any reason upon ten (10) working
days written notice to the Company.  The Company may terminate this Agreement at
any time for cause.

11.   Assignment.

Neither party shall assign or delegate this  Agreement or any rights,  duties or
obligations  hereunder to any other person and/or  entity  without prior express
written  approval to the other.  Subject to the foregoing,  this Agreement shall
inure  to  the   benefit  of  and  be  binding   upon  the   successors,   legal
representatives and assignees of the parties hereto.

12.   Independent Contractor.

Consultant is and throughout this Agreement  shall be an independent  contractor
and not an  employee,  partner  or agent of  Company.  Consultant  shall  not be
entitled to nor receive any benefit  normally  provided to  Company's  employees
such as, but not limited to, vacation payment,  retirement,  health care or sick
pay. Company shall not be responsible for withholding income or other taxes from
the payments made to  Consultant.  Consultant  shall be solely  responsible  for
filing all returns and paying any  income,  social  security or other tax levied
upon or determined  with respect to the payments made to Consultant  pursuant to
this Agreement.

13.   Tools and Supplies.

The Company will provide  Consultant  with  workspace,  telephone,  computer and
general  office  supplies as it customarily  provides its  employees.  Except as
otherwise  provided herein and unless otherwise agreed to by Company in advance,
Consultant shall be solely responsible for procuring, paying for and maintaining
any  other  tools  or  supplies  which  Consultant  believes  are  necessary  or
appropriate for the performance of Consultant's services hereunder.

14.   Changes.

Consultant  agrees to  promptly  inform  the  Company  of any event or change in
circumstances,  which could reasonable  affect  Consultant's  ability to perform
hereunder in the manner contemplated by the parties.


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<PAGE>

15.   Representations.

Consultant  warrants  and  represents  that  Consultant  has the full  right and
authority to enter into this Agreement and that Consultant has no obligations or
commitments  inconsistent with this Agreement and/or its performance  hereunder.
Consultant acknowledges that no institution or employer with which Consultant is
or  was  associated   places  any  restriction  upon   Consultant's   consulting
activities, which would affect Consultant's performance under this Agreement.

16.   Non-Disparagement.

Consultant  agrees that he will not  disparage  or assist,  encourage  or induce
others to disparage  Company or any of its subsidiaries or affiliated  entities.
For the  purposes of this  Agreement,  the term  "disparage"  includes,  without
limitation,  comments  or  statements,  whether  written  or oral or  whether in
connection  with any judicial or  administrative  proceeding or not, which would
adversely affect in any manner (i) the conduct of the business of Company or its
affiliated  entities  (including,  without  limitation,  any  business  plans or
prospects)  or  (ii)  the  business  reputation  of  Company  or its  affiliated
entities.  Consultant agrees to use his best efforts to prevent others with whom
Consultant has a personal or professional  relationship from disparaging Company
as well. This obligation shall also survive the termination of this Agreement.

17.   Controlling Law.

This Agreement shall be governed by and construed in accordance with the laws of
the State of New Jersey.

18.   Headings.

The headings in this Agreement are inserted for  convenience  only and shall not
be used to define,  limit or describe the scope of this  Agreement or any of the
obligations herein.

19.   Final Agreement.

This Agreement  constitutes the final  understanding  and agreement  between the
parties  with  respect to the subject  matter  hereof and  supersedes  all prior
negotiations, understandings and agreements between the parties, whether written
or oral.  This  Agreement  may be amended,  supplemented  or changed  only by an
agreement in writing signed by both of the parties.

20.   Notices.

Any notice  required to be given or otherwise  given  pursuant to this Agreement
shall be in  writing  and shall be hand  delivered,  mailed by  certified  mail,
return  receipt  requested or sent by recognized  overnight  courier  service as
follows:

      If to Consultant:  Mr. David C. Storbeck
                         10 Arthur Place
                         Montville, NJ  07045

      If to Company:     Adrienne A. Messina
                         Philipp Brothers Chemicals, Inc.
                         One Parker Plaza, Suite 1400
                         Fort Lee, NJ  07024


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<PAGE>

21.   Conflict.

In the event of any conflict,  ambiguity or inconsistency between this Agreement
and any other document which may be annexed hereto,  the terms of this Agreement
shall govern.

22.   Severability.

If any term of this Agreement is held by a court of competent jurisdiction to be
invalid or  unenforceable,  then this Agreement,  including all of the remaining
terms,  will remain in full force and effect as if such invalid or unenforceable
term had never been included.

23.   Survival of Provisions.

Section 7, Intellectual  Property,  Section 9, Confidentiality,  and Section 16,
Non-Disparagement  will survive termination of this Agreement and remain in full
force and affect.

IN WITNESS  WHEREOF,  this  Agreement has been executed by the parties as of the
date first above written.

Philipp Brothers Chemicals, Inc.                  David C. Storbeck

By: /s/ Adrienne Messina                          By: /s/ David C. Storbeck
    --------------------------------              ------------------------------
    Name: Adrienne Messina                        Name: David C. Storbeck
    Title: Vice President Human Resources


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