Loc Troi Group has paid all the money for rice purchased from farmers in An Giang.

Accordingly, a representative of Loc Troi Group said that since the beginning of the 2023-2024 winter-spring crop, Loc Troi has signed a contract to link production and invest in agricultural materials and services (without interest) on a cultivated area of ​​more than 50,000 hectares in the Mekong Delta region. Estimating the crop yield, the group has planned to purchase all of this rice and work with banks to provide capital for purchase and pay farmers on time.

Loc Troi Group has paid off the debt for buying winter-spring rice for the 2023-2024 crop for farmers in the Mekong Delta. Photo: PV

By mid-April 2024, Loc Troi had purchased over 300,000 tons of rice with a total value of nearly 2,500 billion VND, and processed it at the group's factories in the localities. In An Giang alone, the purchased output was over 120,000 tons of rice, worth nearly 1,000 billion VND. The total amount paid to farmers amounted to over 2,000 billion VND.

Due to some objective fluctuations from rice buyers and banks, despite great efforts and proactive arrangements of cash flow with partners, even accepting to sell dry rice at low prices to prioritize rice payment, there is still a gap in payment time, affecting farmers.

On May 20, Loc Troi coordinated with Tien Phong Bank ( TPBank ) to complete the payment of the entire outstanding rice purchase amount, fulfilling its commitment to farmers and local authorities.

Chairman of the Board of Directors of Loc Troi Group, Mr. Huynh Van Thon, on behalf of over 3,000 employees of Loc Troi, also sent his most sincere apologies to the farmers for this incident and shared his feelings of being moved by the sincere trust and love of the farmers, the support of the local government, and domestic and foreign financial and credit institutions for Loc Troi.

Chairman of the Board of Directors of Loc Troi Group, Mr. Huynh Van Thon, on behalf of over 3,000 employees of Loc Troi, sent his most sincere apologies to the farmers. Photo: PV

Also on the afternoon of May 21, reporting to Dan Viet reporter (via phone), Mr. Huynh Van Thien, a farmer in Tan Vong hamlet, Vong The commune, Thoai Son district, An Giang province happily said: On the afternoon of May 19, Loc Troi transferred the full amount of money to buy his rice, over 700 million VND. At the same time, Mr. Thien also sent his thanks to Dan Viet newspaper for timely information and protecting the legitimate rights and interests of farmers.

Previously, reflecting to Dan Viet reporters, hundreds of rice farming households in An Giang province participating in production cooperation with Loc Troi Group were in a state of "sitting on fire" because they had sold rice to Loc Troi for nearly 2 months but had not received any money. Without money, many households had to borrow money from outside to plant summer-autumn crops and cover other expenses.

Many farming households that have cooperated with Loc Troi Group in producing rice in Vong The commune (Thoai Son district, An Giang province) said that as of May 9, Loc Troi Group has not paid for the purchase of winter-spring rice for nearly 2 months and has promised the people twice. Specifically, the first time on April 1, Mr. Huynh Van Thon, Chairman of the Board of Directors of Loc Troi Group signed an "Open Letter" to the Cooperative Unions, Cooperatives and farming households participating in production cooperation with the Group, committing to pay all the rice purchase money before April 26, 2024 and the second time promised to pay in full on May 20, 2024...

Source: https://danviet.vn/tap-doan-loc-troi-da-tra-xong-toan-bo-tien-mua-lua-cho-nong-dan-tai-an-giang-20240521194758536.htm