Kien Giang Agro-Forestry Product JSC - A Strong Rice Exporter

9:40:33 AM | 29/10/2009

Rice production is a strong point of Kien Giang province and the Mekong Delta region as well. In order to take this advantage, Kien Giang Agro-Forestry Product Company was set up in 1992 to specialize in agro-forestry product trading and food. The company has gradually shined up its prestige in rice export and won consumers’ confidence worldwide since it was transformed into Kien Giang Agro-Forestry Product Joint-Stock Company (KIGIFAC) in 2006.
Mr Phan Van Dong, KIGIFAC Director said the company has participated in international biddings in the Philippines for four times over the past seven years and has won a contract to supply nearly 150,000 tonnes of rice to the Philippines' National Food Authority (NFA). The company, with rice processing plants of Mong Tho, Rach Soi, and My Lam, exports nearly 200,000 tonnes of rice per year to major markets of the Philippines, Malaysia, Thailand, the Africa, the Europe and the Middle East. The company sold a total of 224,030 tonnes of rice, broken rice and bran to have revenue of VND1,841 billion (US$103.125 million) in 2008, meeting 160 % and 196 % of the full-year targets, respectively. It shipped abroad 166,718 tonnes of rice valued at $86 million last year, fulfilling 139 % and 159 % of the full-year targets, respectively. Last year, the company made a profit of VND139 billion (US$7.786 million), which indicated a 15-fold increase against its full-year target.
In the first months of 2009, the global economic crisis hurt KIGIFAC’s business but the company still affirmed it is a strong rice export trademark, earning US$34 million from exports, meeting 61.4 % of the full-year target.
Although a seven-year period is not a long time to prove trademark of a company, KIGIFAC has affirmed its prestige by winning noble prizes for Prestigious Exporter in 2004, 2005 and 2006 by the Ministry of Trade (currently the Ministry of Industry and trade) and is among 12 Vietnamese institutions nominated to join international bidding to supply rice to the NFA. In 2008, KIGIFAC was ranked the sixth among prestigious rice exporters selected by the Vietnam Food Association and was honoured the prize “Prestigious Rice Exporter” by the Ministry of Industry and Trade, which are attributed to everlasting efforts by the company’s leaders, staffs and workers.
Dong also attributed the achievements to great unity by the company’s leaders and staffs and support by associations and organizations including the Vietnam Chamber of Commerce and Industry, the Vietnam Food Association, and the Kien Giang Association of Industry and Trade.
Hoang Lam