Stockpiling rice to stabilize prices

On September 22 Deputy Prime Minister Nguyen Sinh Hung signed a decision on stockpiling rice from the 2009 summer-autumn crop to stabilize prices on the market and ensure that rice growers make a profit.

The Vietnam Southern Food Corporation has been assigned to buy 500,000 tonnes of rice from September 20 to November 20 and keep it for the next four months.

The State will assist businesses with the interest on borrowed capital from banks to purchase the rice.

The Prime Minister has directed the Ministry of Finance to liaise with the State Bank of Vietnam to put the decision into effect.

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