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T&T Group run by Hien Coach made a US $ 115 million agricultural deal with a US partner ignoring Covid-19 's attack

11:41 | 01/04/2020

On March 31, a business of online work in T&T Group run by the business man Do Quang Hien (well-known for the name Hien Coach) signed a US $ 115 mil contract of agricultural import with a US partner. Mostly imported agricutural products are raw material for feed production which surged its price due to unstoppable Covid-19 pandemic's impact. 

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tt group run by hien coach made a us 115 million agricultural deal with a us partner ignoring covid 19 s attack
The US $ 115 mil contract was signed between T&T Group and a US partner amid Covid-19 pandemic

According to T&T Group representative, the first part of the contract valued more than US $ 13 mil, equal to 48,000 tons of DDGS (Dried distillers grains with solubles) is going to be done in April 2020. The remain is supposed to be completed in 2020. T&T Group 's partner for this deal is Marquis Energy Global Group, considered a US leading producer for ethanol facility and DDGS...

The statistic showed that Vietnam breed demanded about 16-18 mil tons feed per year, cost the total value US$ 6 billion. Grand View Research estimated that Vietnam's market scale of feed will reach by US$ 10,55 bil and demand for 15-15 mil tons per year. However, domestic raw material for feed such as corn and soybean....only meet the demand for domestic feed production by 50-55%, causing the need of material imports.

According to the statistic from General Department of Vietnam Customs showed generally the feed and raw material import in the first 2 months decreased by 20,7% compared to the same period in 2019. The spreading disease is taking bad effects on international trade to cause the lack of feed and raw material provision and inadequate input value chains. Besides, seeking for the another replaced sources runs into obstacles along with domestic high demand surged the price of feed and raw material inside the country.

Be aware of the market and willing to assist domestic factories to lower the price and stabilize provision, T&T Agriculture Limited Co ( T&T Group's subsidiary) in association with T&T in the US cooperated with US Marquis Energy Global in a deal in the beginning of 2020, amid the disease outbreak in a few countries.

tt group run by hien coach made a us 115 million agricultural deal with a us partner ignoring covid 19 s attack
Covid-19 causes feed raw material provision and imports plummet. (illustration)

The most hard obstacle on this deal is how to prove trust-worthy financial competence, brand reputation to a well-known international partner. But, after a series of serious work, the US partner was absolutely persuaded with the financial potential, management ability, diversified eco -system as well as import export experience of agricultural field showed by T&T group ( for instance: raising up Binh An Bianfisco seafood company succsessfully, signing the world historic biggest contract of raw cashew nut procurement...). The deal gained US$ 115 mil to the total contract value, 48,000 tons DDGS of it cost US$ 13mil delivered to Vietnam right in April 2020 by Marquis Energy Global in its such a confidence.

Founded in 1993 with the precursor T&T Technology and Trade Co., Ltd and , T&T Group run by Hien Coach has been becoming one of top leading private economic group, diversifying its businesses in 7 sectors: real estate; finance and investment; agricultures, forest and seafood; traffic infastructure; industry and trade; mineral, energy and environment; health-care, education and sport;.

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Translated by Tarah Nguyen

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