Monday, April 12, 2010

Three firms sign deal on cassava purchases



THE Southern Food Corporation, Cambodian Investment and Development, and the Green Trade Company announced Thursday that they planned to jointly invest $US30 million to buy cassava in Cambodia.

Thun Vireak, director general of Green Trade Company, one of the shareholders in the plan, told the Post on Thursday that the three companies would buy about 100,000 tonnes, more than 3 percent of the Cambodia’s annual cassava production, to export to Vietnam.

“We hope that under this cooperation, the three companies will be able to buy enough cassava as is planned,” Thun Vireak said.

According Thun Vireak’s report, the companies will start buying cassava in the up-coming December season in the Battambang and Kampong Cham provinces, the country’s two leading cassava producing areas.

Thun Vireak did not on mention on Thursday the price that the companies would set to buy the product from farmers.

The three companies have a history of working with one another. Representatives signed an agreement together on October 5, 2009, to buy rice and other products in Cambodia for export using total capital of $200 million.

Source and to read more: http://www.phnompenhpost.com/index.php/2010040937221/Business/three-firms-sign-deal-on-cassava-purchases.html

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