First ship­ment of King­dom bananas to China un­der­way

The Phnom Penh Post - - BUSINESS - Post Staff

LONGMATE Agri­cul­ture Co Ltd, a joint ven­ture bet ween lo­cal, Chi­nese and Hong Kong in­vestors, is set to send some 30,000 tonnes of its maiden ba na na ex por t to China i n Jan­uar y.

Its chair­man, Phe Hokch­houn, said: “The first [ship­ment] of 30,000 tonnes will be ex­ported in Jan­uary and we will dou­ble the amount in the com­ing years.”

Cam­bo­dia inked an agree­ment in Au­gust with China to be­gin ex­port­ing the fruit to the Asian eco­nomic pow­er­house.

Viet­namese con­glom­er­ate Hoang Anh Gia Lai Group (HAGL) re­cently an­nounced a $42 mil­lion in­vest­ment to ex­pand its ba­nana plan­ta­tions in Ratanakiri prov­ince with the aim to ex­port the pro­duce to the Chi­nese mar­ket.

Hence, the in­vest­ment will add more than 5,000ha to its port­fo­lio.

HAGL, which op­er­ates in the prop­erty, min­ing, hy­dropower and com­mer­cial agri­cul­ture sec­tors, owns 1,000ha of ba­nana plan­ta­tions in north­east Cam­bo­dia through three sub­sidiaries.

They are Hoang Anh An­dong Meas Co Ltd, Hoang Anh Lumphat Co Ltd and Hoang Anh Daun Penh Agrico Co Ltd.

Long mate Ag r icu lt ure Co Ltd has in­vested more t han $32 mil­lion in a ba­nana plan­ta­tion in Kam­pot prov ince’s Ch­houk dist r ict to tap i nto t he po­ten­tia l of t he crop.

Ear­lier in Au­gust, Cam­bo­dia and China signed a pro­to­col of phy­tosan­i­tary re­quire­ments that will make way for the ex­ports of yel­low bananas from the King­dom to China.

The pro­to­col was inked be­tween the Agri­cul­ture Min­is­ter Veng Sakhon and the Chi­nese Am­bas­sador to Cam­bo­dia Xiong Bo in the pres­ence of Cam­bo­dian Deputy Prime Min­is­ter Hor Namhong.

GETUP/ABC

Protesters rally in front of the Aus­tralian Par­lia­ment House in Can­berra in 2015 to stop tam­pon tax.

SUP­PLIED

Farm­ers plant ba­nana trees at a plan­ta­tion in Ratanakiri prov­ince. Cam­bo­dia will be­gin ex­port­ing its bananas to China next year.

Newspapers in English

Newspapers from Cambodia

© PressReader. All rights reserved.