Wing Bank, Wing Commerce, Amru Rice and CACC join up to boost Kingdom's rice production
Wing Bank, Wing Commerce, Amru Rice and CACC join up to boost Kingdom's rice production
Farmers now have convenient access to a one-stop solution, providing financial and digital marketplaces, to enhance their farming businesses and improve their livelihoods.
Wing Bank, WingCommerce, Amru Rice and the Cambodian Agriculture Cooperative Corporation Plc (CACC) have signed a memorandum of understanding (MoU) on enhancing rice production and promoting sustainable agriculture in the Kingdom.
The MoU was signed during the 4th Sustainable Agriculture Summit in Phnom Penh on February 28, 2024.
The event brought together influential stakeholders from the private sector and the government for discussions on Regenerative Agriculture for Agro-Environmental Sustainability of Intensive Agricultural Systems in Cambodia, attracting around 350 participants.
“Our focus is on leveraging technology to bridge the gap between agriculture stakeholders and digital banking services," said Manu Rajan, CEO of Wing Inter Logistic Technologies Co, Ltd.
“The Wingagri platform is designed to empower stakeholders in the agriculture sector by providing efficient and accessible solutions."
The transformative partnership allows Amru Rice and CACC – along with their members as farmers and agricultural cooperatives – to utilise the Wingagri platform, expanding their market reach nationwide, and secure up to 100 million riel to boost farming production from Wing Bank without the need for collateral.
“This partnership is not merely a business collaboration – it is a commitment to the heart of Cambodia," said Hor Bunthe, Deputy CEO of Wing Bank.
“We are sowing the seeds of sustainable practices, and with the right financial support, we are nurturing a future where every farmer thrives."
Amru Rice, with a focus on organic and sustainable food products, has since 2013 consistently promoted a supply-by-contract model with farmers organised as agricultural cooperatives.
Nearly 30,000 metric tonnes of organic rice are supplied by 6,000 farmers in some 35 cooperatives, with an additional 16,000 households across 16 provinces engaged in sustainable rice cultivation via the AIMS project run in coordination with the Cambodian Rice Federation.
Amru Rice plans to scale up efforts by collaborating with 16,000 families over 25,000 hectares by 2024, reaching 100,000 hectares with 50,000 families by 2030.
“We are delighted to be part of this collaborative effort to boost Cambodia's rice production and promote sustainable agriculture," said Okhna Song Saran, Chairman and CEO of Amru Rice.
“Through digital marketplace support, accessing platforms like Wingagri and financial solutions from Wing Bank, we aim to empower agricultural cooperatives and stakeholders in the agricultural value chain."
CACC, with Amru as a stake-holder, operates on a “Producer-Public-Private Partnership" concept, facilitating the trade, storage and management of agricultural crops procured from farmers, cooperatives and contract farming agreements.
“Through this partnership, we are enabling access to cutting-edge solutions like the Wingagri platform and vital financing from Wing Bank,” said Kann Kunthy, Managing Director of CACC.
“This collaborative effort is a testament to our dedication to advancing sustainable agriculture and ensuring the prosperity of every farmer.”
The move represents a significant step towards enhancing Cambodia's agriculture, fostering sustainability and empowering stakeholders across the value chain, with the integration of technology and accessible financial solutions paving the way for a thriving and environmentally conscious rice production industry.
