Reports say Cambodian company Baitong has signed a $19 million dollar deal selling 100,000 tonnes of red corn over the dry season to buyers in Japan and Vietnam.
The company’s president, Phou Puy, said Baitong will supply 70,000 tonnes of corn to the Japanese company and 30,000 tonnes to the Vietnamese company.
Thus far, Baitong has only 13% of the red corn needed for the sale due to flooded roads impeding transportation of crops, and what the company cited as stiff competition.
The corn, which will begin shipping in December, is to be used in animal feed.
