Government Supports Rice Stockpiling

The Prime Minister has approved a plan to buy one million tonnes of winter-spring rice between February 20 and March 31 for temporary stock in the Mekong Delta region.

 

The Government will cover 100 percent of interest rates for loans businesses take out from banks to buy rice for reserves in a three-month term, from February 20 to May 20.

 

The Government has asked the Vietnam Food Association (VFA) to instruct food enterprises to purchase rice in accordance with market prices.

 

The Ministry of Finance and State Bank of Vietnam will provide capital for the sales.

 

The Ministry of Agriculture and Rural Development (MARD) will cooperate with the VFA, the Ministry of Industry and Trade (MoIT), and provincial and municipal People’s Committees in the Mekong Delta to develop mechanisms for inspection and management of the rice sales for temporary stock.