Press release, 30 October 2006

Decision number 105/2006/QD-UBND issued on 17 July 2006 has set out master plans for development agriculture activities of this largest city in Vietnam. The plan aims to reduce rice cultivation field in the city suburbs and replace them with higher valued plants and living stocks farms.

As part of this program, TT Agriculture will provide technical assistance to fish farmers in Tan Nhut commune, Binh Chanh district and secure the consumption of their Pangasius products for current and future customers of TT Agricutlure Co., ltd. The target market for this fish is Russia and the former Soviet countries. During the first nine months of 2006, export volume to these markets of TT Agricutlure reached 500 tons of products, equivalent to over 1,500 tons of materials.  However, only 5% of these fish was farmed in Hochiminh city. The reason is that most of current farms are running the old fashioned VAC model (integration of Vegetable gardens, Aquaculture ponds and Cattle cages). The result was uncontrolled use of feed, poor waste management and low quality fish.

In the first year of cooperation (2007), TT Agriculture will help establishing specialized Pangasius farms and converting current VAC models.  TT Agriculture's fishery veterinarian will pay periodical visits to these farms helping them dealing with fish diseases and water quality control measures. All farms feed and drugs used will be closely monitored to comply with Ministry of Aquaculture's requirements. Besides, crops schedule will be anticipatively worked out with farmers and TT sales department in order to minimize risks of slow sale seasons and low material price.

For TT Agriculture, this cooperation is a proactive measure to cope with rising demands and improving technical requirements imposed by Authorities in these markets