8 enterprises receive more than 3 billion bonuses for emission-reducing rice growing

On March 18, in Can Tho city, the SNV Netherlands Development Organization honored eight enterprises with achievements in linking with small farmer households to grow rice towards multi-goal (summer-autumn crop – crop 1), specifically increasing profits, reducing greenhouse gas emissions, and ensuring social justice factors.

The program is under the Project "Transforming Rice Value Chain for Climate Resilient and Sustainable Development in the Mekong Delta (TRVC)," deployed in three provinces of An Giang, Dong Thap, and Kien Giang from 2023 to 2027.

The project applies the awarding mechanism based on results in order to encourage and attract the participation of enterprises that are producing and trading in the rice value chain. Eight participating enterprises have received a total bonus of AU$ 200,000, equivalent to nearly VND 3.2 billion.

Specifically, in the summer-autumn crop of 2024 (crop 1), the enterprises have linked with 12 cooperatives and 27 cooperative groups, a total of 1,719 farmer households, to implement a sustainable rice production process. The total area of the three provinces participating in the project is approximately 6,166 ha.

After a pilot crop, the independent inspection unit has calculated and summarized the results from each field registered to participate in the project. The results showed that the average profit of farmer households reached 59.04%, and the entire project's total amount of emission reduction was nearly 27,162 tons of CO2 equivalent (CO2e).

Accordingly, Chon Chinh Import Export Co., Ltd. is the unit that receives the highest bonus, nearly VND 1.2 billion, on a scale of approximately 1,515 ha of registered area. The enterprise achieved a reduction in greenhouse gas emissions of nearly 9,953 tons of CO2e, and the average profit of farmer households reached 68.41%.

Vietnam Rice Co., Ltd. (VINARICE) received a prize of more than VND 456 million for an area of ​​over 997 ha. The total reduction of greenhouse gas emissions reached nearly 3,889 tons of CO2e, and the profit for farmer households reached 57.51%.

Trung An Hi-Tech Farming JSC received a bonus of approximately VND373 million, with more than 679 hectares participating in the project, reaching a reduction of greenhouse gas emissions of more than 3,176 tons of CO2e, and a profit for farmers of 43.9%.

Xuan Phuong Kien Giang Co., Ltd. received a bonus of about VND 352 million when participating in the project with more than 987 ha. The enterprise achieved a reduction in greenhouse gas emissions of nearly 2,998 tons of CO2e, and the profit for farmers reached 53.92%.

ThaiBinh Seed Group JSC received a bonus of nearly VND 319 million when participating in with more than 661 ha, reaching a reduction of greenhouse gas emissions of approximately 2,717 tons of CO2e and a profit for farmers of 53.36%.

A An Food JSC received a bonus of nearly VND 302 million, with a participating area of ​​over 610 ha, a reduction of greenhouse gas emissions of over 2,573 tons of CO2e, and a profit of farmer households reaching 62.2%.

Angimex - Kitoku Co., Ltd. received a bonus of about VND 148 million, with an area of over 358 ha, reducing greenhouse gas emissions by over 1,260 tons of CO2e and reaching a profit for farmer households of 46.79%.

King Green Natural Foods JSC received a bonus of nearly VND 70 million. The enterprise has the lowest area participating in the project (approximately 182 ha), achieving a reduction in greenhouse gas emissions of more than 595 tons of CO2e and a profit of farmer households of 62.1%.

Farmers participating in the linkage with enterprises through this project are also shared bonuses from enterprises, at the lowest rate of 10%. In particular, Angimex - Kitoku Co., Ltd. shared 95% of bonuses for all farmer households participating in the company's linkage chain.

Mr. Le Van Thiet, Deputy Director of the Crop Production and Plant Protection Department (Ministry of Agriculture and Environment), emphasized that the efforts of businesses and farmers participating in the TRVC project will contribute to building a production system according to the value chain, with the application of good agricultural production practices. In addition, on the social side, 100% of enterprises participating in the project have practiced integrating policies and implementing measures to ensure social justice internally and in the linkage chains in three provinces.

The TRVC project also supports farmers, cooperatives, and cooperative groups to enhance the capacity of farmers and apply advanced farming techniques, helping reduce greenhouse gas emissions and optimize water resources in rice production.

Continuing in the winter-spring crop of 2024-2025 (crop 2), three provinces of An Giang, Dong Thap, and Kien Giang have increased 5 times the area registered to participate in the TRVC project compared to crop 1, reaching over 33,576 ha.

The TRVC project is funded by the Australian Government Department of Foreign Affairs and Trade (DFAT) and managed and implemented by the SNV Organization in three provinces: An Giang, Dong Thap, and Kien Giang. The project aims to achieve a minimum profit of 30% for small production households. At the same time, encourage and attract the participation of enterprises that are producing and trading in the rice value chain.

Thereby, the project acts as a catalyst, creating a conversion of rice production and trading in a sustainable manner and bringing the values covered in three provinces with large rice production areas in the Mekong Delta, making a positive contribution to the goals of sustainable development and climate resilience.