VFA buys 400,000 tonnes of rice for reserves

The Vietnam Food Association (VFA) said on August 10 that food enterprises will purchase as many as 400,000 tonnes of rice from farmers in the Mekong Delta in August.

State agencies recommended that businesses buy rice at a price not lower than VND3,800 per kg to ensure farmers enjoy a profit of at least 30 percent.

Information about the rice purchase should be made public so that enterprises can buy sufficient rice at stipulated prices from farmers.

The VFA has sent a list of dumping businesses to the Ministry of Industry and Trade, requiring sanctions against them. Accordingly, those who violate the rice selling regulations will not be permitted to register for new contracts or will even have their business licenses revoked.

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