Hoang Minh Nhat Joint Stock Company processes and sells rice in Can Tho City and neighboring provinces. In the past years, the company has adopted the company - cooperative - farmer business model to ensure the guaranteed purchase of agricultural products from cooperatives and farmers. This model has initially produced positive results and promoted business development.
Director Hoang Minh Nhut said, “I have worked in the food business for decades. At first, I ran a small business, purchased only 3,000 - 4,000 tons of paddy for processing each year on average and sold it to shops and agents. Doing this business, I realized a paradox: The Mekong Delta is the largest rice granary of the country but it has not built its own rice brand. Farmers just cultivate the paddy with traditional practices rather than adopting new methods based on the market demand. Moreover, agricultural production is often prone to natural disasters and pandemics, and product prices usually fall when the harvest is good, resulting in low income for farmers. Seeing this, I decided to establish Hoang Minh Nhat Joint Stock Company in 2006.”
With its nearly 15 years of experience in export rice production and processing, modern machinery and technology and an experienced workforce, Hoang Minh Nhat Joint Stock Company has now become a big rice supplier for Vietnam and for many countries in Southeast Asia, the Middle East, Asia, Africa, and the Americas.
Staffed by young, dynamic, enthusiastic and highly qualified employees and directed by an experienced management team, Hoang Minh Nhat always provides high-quality products and services in domestic and international markets. With its right development directions, the company’s growth has been quite impressive in recent years. Starting with a relatively small production capacity in 2006, its scale doubled in 2008 and trebled in 2012. The sales increased from nearly VND100 billion in the first year to VND700-900 billion a year from 2012. Of all its products, the company directly exports 25-40% and sells 10% to domestic agents and 50-65% to exporters.
“In order to have a stable input supply, ensure product quality, meet domestic customer demand, and fulfil strict requirements imposed by importing markets, the company must establish close partnerships with cooperatives and farmers for these purposes and increase interest for all stakeholders,” he said.
By Ngoc Tung, Vietnam Business Forum