Vietnam’s Rice Stockpile Plan Ahead of Schedule
Firms in Mekong Delta provinces of Vietnam have bought 600,000 tons of rice for stockpiling as of Mar 15, a half of month ahead of the schedule, according to the Vice Chairman of the Vietnam Food Association (VFA) Pham Van Bay.
Bay said the 30 companies that the VFA instructed to stockpile one million tons of winter-spring rice within Mar and Apr have received bank loans to carry out their buying plans.
The vice chairman said that as of Mar 13, Vietnamese companies signed contracts to export more than 3 million tons of rice.
Currently, the companies are buying the rice at VND4,100-VND4,400/kg. Meanwhile, prices of grade-1 grain for processing 5% broken rice are VND5,600-VND5,650/kg, and for 25% broken rice are VND5,400-VND5,450/kg. (Vietnam Agriculture)
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