Rice Prices Keep Soaring in Mekong Delta
Rice and paddy prices have kept surging in Mekong Delta provinces since the Government decided to raise threshold of rice export contracts to be taxed to US$800 a ton, Vietnamese state media reported.
The Cong An Nhan Dan (People Police) newspaper reported that prices of summer-autumn paddy rose VND300-VND400 a kilogram compared to ten days earlier.
Prices of rice also increased to VND5,150-VND5,300/kg of 5 per cent broken rice, and VND4,700-VND4,850/kg of 15 per cent broken rice.
However, local farmers said they are finding hard in selling paddies at high prices due to rice export companies’ collection systems, including intermediaries.
In Vinh Long province, local department of agriculture and rural development said some 400,050 tons of paddies are left unpurchased. Vinh Long Import-Export Company and Vinh Long Food Company have been assigned to collect paddies from farmers in the province.
Le Quang Dung from the company said they are purchasing 1,000 tons of paddies a day and it has purchased 5,000 tons at VND6,300/kg, an increase of VND400 a kilogram over the previous crop.
However, the prices of rice and paddy are the prices offered by the company purchased paddies from merchants. Meanwhile, farmers had to sell paddies at less than VND4,500 a kilogram. (Saigon Liberation, Vietnamnet)
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