Vietnam PM Signs Decision so Traders Stockpile Rice for Farmers
Vietnamese Prime Minister Nguyen Tan Dung has signed a decision under which traders will buy a maximum of 1 million tonnes of winter-spring rice crop from farmers for temporary stockpiling, from March 15 to April 30. Vietnam Food Association will be in charge of assigning traders to buy the above amount of rice for temporary stockpiling, and traders will buy directly from farmers in accordance with market mechanism and will be responsible for all business dealings.
The State Bank of Vietnam will support this program with 100 per cent interest free loans during the allocated time period so that traders may complete their transactions.