38
Five companies selected as new rice stockholders
The Trade Department today (Friday) selected five companies for registration as new rice stockholders under the Government's Rice Control Scheme.
These five companies are Tinson Trading Company Limited, Tai Loong Hong Marine Products Limited, Hong Kong Manufacturing Company Limited, Tai Lam Provincial Food Products Limited, and Liu Chong Hing Investment Limited.
The selection by ballot was conducted by the acting Director-General of Trade, Mrs Rebecca Lai, who drew lots to pick the five from among 64 eligible applicants.
A total of 80 applications were received during the application period between August 2 and September 20. Among them, 64 applicants meet all the registration criteria and are eligible for registration.
Mrs Lai said since the number of eligible applicants exceeded the minimum number of rice stockholders which the Trade Department intended to register, the Department therefore decided to select five for registration as new stockholders and to allocate each with eight units.
Import of rice in Hong Kong is subject to control. Under the Rice Control Scheme, the quantity of rice imported into Hong Kong per quarter for local consumption is subject to a quota which is divided into 1,000 units, each representing 90 tonnes of rice.
With the five new rice stockholders, there will be 50 registered rice stockholders operating in Hong Kong.
"The Government is glad to see that there are more rice stockholders joining the trade. This will enhance competition in the rice trade, and we believe that this would be beneficial to consumers in the long run," Mrs Lai said.
The five newly registered rice stockholders will begin importing rice in the first quarter of next year.
End
+
Page 40Page 41
No comments yet.
Private notes are available after approval.