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September 18, 2021
Business Featured Momase News

Lae Rice Company, Homestate, invests in Rice cultivation

Today was a mini field day for a Thailand rice company, Homestate. The owner of the rice company,Tony Wetwattana shared his sentiments about the country and the need for food items to be cheap.

The company is experimenting to grow rice in the country. Homestate has been an importer of rice in its 10 years of operation in the country. It is based in Lae.

Morobe Governor, Kelly Naru also attended along with representatives of the Provincial Executive Council, including the Lae city Lord Mayor.

The governor says the Morobeen Provincial Government is willing to support the industry.

The Homestate Rice Experiment comes after Trukai carried out its own experiments and is involving local farmers throughout the country.

Kumal Consolidated Holdings director, Moses Maladina was present today, without giving too much, the director says KCH is looking to invest into the rice industry.

An estimated over K500 million is spent on rice imports every year. Now there is a general shift with rice companies starting to grow their own crops. The effort involves small holder farmers across the country.

Last month saw Goodman-Fielder International launch a new brand of rice; Trukai has been investing in rice farming and; now Homestate is stating it is in it for the long run.

Kumul consolidated Holdings is talking to Trukai, Homesate and Goodman-Fielder International for a possible partnership in the near future.

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