Loc Troi exports over 400,000 tons of rice to European supermarkets
Loc Troi exports over 400,000 tons of rice to European supermarkets
Previously, Loc Troi rice with the brand name Vietnamese Rice Rice was officially sold in the European market and displayed on the shelves of Carrefour (Europe) and Leclerc (France) supermarket systems in early September 2022 which is an initial success to help raise the position of Vietnamese rice in the international market.
Loc Troi Group, therefore, decided to build a raw material area in the Mekong Delta Province of Kien Giang by signing a syndicated credit agreement with seven local and foreign commercial banks with a limit of US$100 million (more than VND 2,400 billion) for three years.
Loc Troi signs a syndicated credit agreement with seven local and foreign commercial banks
To develop Loc Troi’s paddy fields, Military Bank (MB Bank) has cooperated with Kasikornbank to connect First Commercial Bank, Agricultural Bank Of China Limited - Branch Hanoi, China Construction Bank Corporation - Ho Chi Minh City Branch, CTBC Bank Company, E.SUN Commercial Bank in the Southern
Province of Dong Nai to arrange capital sources and participate in syndicated credit packages. Moreover, the above banks will supplement funding for working capital, focusing on investment in expanding high-quality rice production.
During the 3-year period, this credit package will be used to supplement working capital in investments in seed supply, agricultural materials, and agricultural services for cooperative alliances, cooperatives, and production groups, farmers to expand high-quality rice production, reduce costs as well as for ensuring stable profits and contributing to the improvement of quality and stable supply for orders in the coming time.
