Laos has exported 50 tons of rice to the European Union market, with Belgium as the first purchase destination.
According to a report by Socio-Economic Daily, the Champahom Trading Import-Export Sole Co., Ltd has become one of the first companies in Laos to succeed in exporting rice to the European Union (EU).
General Director of Champahom Trading, Mrs. Bounhieng Phommysay, says the company had conducted a trial export of 50 tons of rice produced in Laos for sale to the EU.
She says that European buyers are now interested in importing hundreds of thousands of tons of rice from Laos each year.
“The company is now facing a challenge in the maintenance of rice quality after harvest. We need to use USD 5 million of funds to improve production procedures and ensure rigorous standards so we can begin to meet market demand,” said Mrs. Bounhieng Phommysay.
Despite these challenges, the firm plans to ink contracts with more importers in the EU for export at two or three tons per shipment.
Over 600 farming families across Vientiane Capital and Xieng Khouang Province have contributed to cultivating rice for the firm using over 600 hectares of land.
Champahom Trading was established in 2013 in Donnoun Village, Xaythany District, Vientiane Capital.