SEOUL, Aug. 6 (Korea Bizwire) — POSCO International Corp., a South Korean general trading company, is stepping up to support local farmers and the food value chain through cooperation between the public and private sectors.
The affiliate of South Korean steel giant POSCO signed a memorandum of understanding with the Rural Development Administration (RDA) on Wednesday to support the Burmese rice industry.
The MOU will enable RDA to provide technology to produce uniform, quality rice. POSCO International will be in charge of processing and distributing the equipment.
The company will also provide local farms in Myanmar with harvesting and storage technology.
POSCO International purchased a Rice Processing Complex (RPC) in Myanmar in 2017 that is capable of producing 15,000 tons of rice each year.
The company also completed construction of a new RPC with an 86,000-ton annual production capacity last year, and began processing local rice for export.
The RDA has been carrying out various projects to develop rice cultivars as well as improve farming and post-harvest management technologies since 2014 through the Korea Program on International Agriculture.
The agency also owns rice production and management technology tailored to Burmese soil.
This new collaboration between the public and private sectors is expected to raise profitability by processing quality rice from Burma and exporting it to China, Africa, and Europe, the company explained.
M. H. Lee (email@example.com)