South Korean POSCO International Corp has signed a MoU with the Rural Development Administration (RDA), a move that is set to boost Myanmar’s rice sector
With the agreement, the two organisations aim to develop a public-private cooperative relationship. RDA is expected to share its rice production technological skills with Myanmar rice farms and POSCO will help in processing and distributing raw local rice.
Additionally, POSCO and RDA have promised to train local farmers on the techniques of cultivation as well as post-harvest management. As reported by The Korea Times, post-evaluation will be provided to help Myanmar rice farmers to improve rice quality.
With the MoU, POSCO aims to expand its sales footprints in China, Africa and Europe with quality raw materials processed in Myanmar, the source further added.
POSCO operates rice processing and exporting business in Myanmar. In 2017, POSCO International acquired a rice processing plant with an annual capacity of 1.5 million tonnes in Myanmar. Last year, the company constructed a new one that can process 8.6 million tonnes yearly.
