Saba Industries pumping $100m into modernisation of SE Asia’s rice sector
Saba Industries, a privately held producer and global exporter of rice and other commodities, is investing US$100 million (Bt3.18 billion) in Southeast Asia’s rice industry to help modernise the sector, promote organic rice farming and improve farmers’ quality of life.
The investment will span two years and is perhaps one of the largest investments in the region’s rice industry.
With its investment, India-headquartered Saba Industries is buying outdated and abandoned rice mills in Thailand, Vietnam, Cambodia and Laos and converting them into storage facilities with bio-energy rice dryers that can help combat the effects of climate change.
The company will also buy farmers’ rice paddies and supply farmers with equipment, seeds and organic fertiliser – all free of charge.
This represents a sea change from the centuries-long practice of farmers being forced to purchase everything necessary to farm, leaving them with mounting debt and continuing the cycle of poverty. Saba Industries also trains farmers in organic farming, company founder and chairman Malini Saba said in a press release on Monday.
