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

It was also the first batch shipped in the form of bulk carrier to save transport cost amid the pandemic.

Production at Loc Troi Group

LTG is now the only agri-business capable of farming rice on a large scale of at least 1,000 ha via cooperatives with the instruction of agricultural engineers and optimal farming process from seed selection to harvest and transport, ensuring the supply of 1 million tons of rice to the market each year.

This year, LTG shipped over 80,000 tons of rice to the E.U., the U.K., Africa, Australia, the Middle East and Asia, earning over 1 trillion VND (43.47 million USD), or nearly 24 percent 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 E.U. - Vietnam Free Trade Agreement. The company also informed that 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 month of this year, the group’s total revenue topped 7.1 trillion VND, up 79 percent annually. The after-tax profit was estimated at 262 billion VND, or 66 percent of the yearly plan.

Source: VNA