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

 
Loc Troi Group (LTG) has announced that it completed the export of one final batch of rice this year to Europe, including 4,170 tonnes of jasmine and white rice.
 
 
 
Bags of Loc Troi's rice are loaded on a vessel to ship to Europe.. — Photo courtesy of Loc Troi Group
 
It was also the first batch shipped in the form of bulk carrier to save transport costs amid the pandemic.
 
LTG is now the only agri-business capable of farming rice on a large scale of at least 1,000ha via cooperatives with the instruction of agricultural engineers and optimal farming process from seed selection to harvest and transport, ensuring the supply of one million tonnes of rice to the market each year.
 
This year, LTG shipped over 80,000 tonnes of rice to the EU, the UK, Africa, Australia, the Middle East and Asia, earning over VND1 trillion (US$43.47 million), or nearly 24 per cent of the group's total revenue.
 
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 said it recently had new partners in Sweden and Germany this year.
 
Its rice export rose by four-fold in both volume and value compared to last year.
 
In the first nine months of this year, the group’s total revenue topped VND7.1 trillion, up 79 per cent annually. The after-tax profit was estimated at VND262 billion, or 66 per cent of the yearly plan. — VNS