Loc Troi Group ships over 4,000 tonnes of rice to Europe | Business

Workers at Loc Troi Group pack rice for export. (Photo: VNA)

City HCM (VNA) – Loc Troi Group (LTG) announced that this year it has completed the export of the last batch of rice to Europe, including 4,170 tonnes of jasmine and white rice.

It was also the first batch shipped as a bulk carrier to save transportation costs in the midst of the pandemic.

LTG is today the only agro-industry capable of cultivating rice on a large scale of at least 1000 ha through cooperatives with the training of agronomists and engineers. optimal cultivation process from seed selection to harvest and transport, ensuring the supply of 1 million tonnes of rice to the market each year.

This year, LTG shipped over 80,000 tonnes of rice to the EU, UK, Africa, Australia, the Middle East and Asia, earning over VND 1,000 billion (43 , 47 million USD), or nearly 24% of the group’s total turnover.

In September 2020, it was chosen by the Ministry of Agriculture and Rural Development to export the first batch of jasmine rice to Europe under the EU-Vietnam free trade agreement. The company also informed that it had recently had new partners in Sweden and Germany this year.

Its rice exports have quadrupled in volume and value compared to last year.

In the first nine months of this year, the group’s total turnover exceeded VND 7,100 billion, up 79% annually. Profit after tax was estimated at VND 262 billion, or 66% of the annual plan./.

VNA

Mary I. Bruner