Australia's largest rice corporation to boost Vietnam investments

Australia’s largest rice grower and distributor SunRice plans to boost its Vietnam investments in the near future, CEO Paul Serra told Vietnamese Prime Minister Pham Minh Chinh in Canberra on Friday.

He lauded Vietnam's implementation of the one million-hectare low-emission, high-quality rice program in the Mekong Delta.

Chinh expressed hope that SunRice, with its experience, resources and reputation, will continue contributing to the growth of Vietnam's rice supply chain.

He also hoped that the Australian firm will improve technological transfers; collaborate with Vietnamese firms; work directly with farmers and stabilize output and input for agricultural products; build warehouses; and assist Vietnamese products in penetrating deeper into the global supply chain, especially in the Halal food sector.

He asked the firm to discuss its plans directly with Vietnam’s Ministry of Agriculture and Rural Development and look for partners to research and implement specific cooperation projects, especially the one million-hectare low-emission, high-quality rice program in the Mekong Delta

In addition to rice, SunRice should also research and expand its activities with other agricultural products like fruits and seafood that are abundant in different regions of Vietnam, Chinh suggested.

Since 2008, Australia's largest rice firm has taken a controlling stake in the Lap Vo rice processing factory in Dong Thap province, which has a capacity of around 260,000 tons of dry rice per year.

SunRice has also been collaborating with the Australian Centre for International Agricultural Research (ACIAR) on the "Developing high-quality rice supply chains in the Mekong Delta" project since 2022, aiming to develop high-quality products for international markets.

SunRice, founded in 1950, is Australia's largest rice distribution and producing company, accounting for over 90% of the Australian rice market. With more than 30 brands and over 2,000 workers in 50 countries, it has also developed numerous activities across the whole rice supply and production chain. Its 2023 revenue is estimated at $1.64 billion.