Stockpiling Rice in Summer - Autumn Crop 2012

11:58:08 PM | 7/11/2012

The Prime Minister recently issued the Decision No. 812/QD-TTg on purchasing rice in summer- autumn crop 2012. Accordingly, he approved the purchase of 500,000 tonnes of rice for national reserve from the summer - autumn crop of 2012. The State Budget will support all interest rates for this purchase. The term of temporary stockpile is three months at most, from July 10, 2012 to October 10, 2012.
He asked the Vietnam Food Association (VFA) to assign traders to buy rice for temporary storage. Traders are responsible for their purchases.
The Ministry of Finance will work with the State Bank of Vietnam (SBV) to instruct traders to apply for lending interest supports and allocate the budget for this support. The SBV will assign commercial banks for lending rice purchases.