AsemconnectVietnam - Loc Nhan (LNG) - a new member of Loc Troi Group, has signed a cooperation agreement to supply 500,000 tons of rice for 2023, with an estimated value of VND5,000 billion with Northern Food Corporation (Vinafood1).

Loc Nhan Food Joint Stock Company was established from Hung Phuoc Food Joint Stock Company, Dai Tai Hi-Tech Agriculture JSC and Hieu Nhan Hi-Tech Agriculture Joint Stock Company.
Sharing in the ceremony of admitting new members and signing a contract to supply rice for Vinafood 1 (December 8), the leader of Loc Troi said that with many similarities in production and business activities, capacity and general aspiration to improve Vietnam's rice, through the negotiation process, currently Loc Troi Agricultural Products Joint Stock Company (LTA) - a member of Loc Troi Group - has also become a strategic shareholder of Loc Nhan Food Joint Stock Company (LNG). .
Loc Nhan has over 400 employees in 3 production plants with a drying capacity of more than 6,000 tons of rice/day, estimated revenue in 2022 is nearly VND8,000 billion and a fairly wide network of partners with supply contracts signed for 2023 up to 350,000 tons of rice.
Through the admission of new members, the operating capacity of LTA has increased from 5 to 8 factories with a capacity of 12,000 tons/day of fresh rice drying, storing, milling and exporting 6,000 tons of rice daily respectively with 2,000,000 tons of rice/year with a staff of nearly 900 people and a network of partners spread across the country and over 40 countries, including the most demanding markets.
The contract to supply 500,000 tons of rice to Vinafood 1 marks the first joint order, starting the sustainable cooperation of LTA and LNG, affirming Loc Nhan's supply capacity when becoming a member of LTA - Agriculture Loc Troi's production is based on a large-scale raw material area of over 1 million hectares cultivated per year that Loc Troi Group and its members and team 3 Together are organizing production in the Mekong Delta, Eastern The South… to meet the diverse needs of domestic and foreign markets.
The leader of Loc Troi said that LTA currently has 5 factories with 450 direct employees; Loc Nhan has 3 factories with 400 employees. After combining, the common capacity can consume 2 million tons of rice of farmers per year, providing 6,000 tons of rice/day. The winter-spring crop harvests and transports 11,000 tons of fresh rice per day, fulfilling the commitment to the two provinces of An Giang and Kien Giang with 210,000 hectares of rice. Organized the purchase and drying of rice, and then proceeded to organize the harvest for 400.000 ha of the 2 provinces.
N.Nga
Source: VITIC/Tinnhanhchungkhoan