Loc Troi Group, a leading provider of agricultural services and products in Vietnam, has so far got orders to export 400,000 tonnes of rice to the European Union (EU) market in 2023, according to a representative of the company.
Source: Free Pics
The representative revealed this information at the signing ceremony for a 100-million-USD million syndicated loan agreement between the group and a number of banks to support farmers in producing high-quality rice for export, in Ho Chi Minh City on October 24.
Nguyen Duy Thuan, General Director of the Loc Troi Group, said after the EU – Vietnam Free Trade Agreement (EVFTA) took effect, the company was selected to ship the first batch of rice and has to date exported 30,000 tonnes of rice to the EU.
In September, 500 tonnes of “Com VietNam Rice” product produced by the Loc Troi Group, for the first time, was put on the shelves of major retail supermarket chains in France. After that, French partners imported an additional 500 tonnes. All the 1,000 tonnes of rice were sold out within one month.
Through E.Leclerc Viry Châtillon, a hypermarket run by leading French retailer E.Leclerc, the “Com VietNam Rice” product reached not only French consumers but also German and Dutch consumers.
According to Thuan, to ensure capital sources for producing high-quality rice for export, the firm signed the credit package with seven banks, which will be disbursed through the supply of varieties, agricultural materials, and services of Loc Troi to cooperative alliances, cooperatives, production groups and farmers which are associated with the group.
The export contracts signed with EU partners will be completed in the second quarter of 2023, he said.