Vietnam Food Association Urges Government Intervention to Stabilize Rice Prices September 06, 2013 - 00:57:13 The Vietnam Food Association (VFA) has proposed the government to allow private companies to buy an additional 300,000 tons of rice for stockpiling between September 15 – October 15 to prevent rice prices from declining. The VFA says that Thai exporters have reduced rice export prices last month, which has affected the competitiveness of Vietnamese rice. Traders are facing a loss of around $30 per ton due to competition with Thailand and have stopped buying domestic rice, which has resulted in lower paddy and rice prices in Vietnam. The VFA has urged the government to extend bank loans with two-month subsidy to businesses to enable procurement of around 300,000 tons to help stabilize prices. It has also asked the government to extend the bank loan subsidy provided to traders in July – August to another month. (See more: arpecrice)
Posted on: Fri, 06 Sep 2013 05:59:32 +0000
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