Consortium to buy adult over-abundance rice

images (8) The Vietnam Food Association (VFA) skeleton to squeeze 1 million tonnes of summer-autumn rice between Jul 15 and Aug 30, though enterprises are concerned over a miss of collateral for purchasing activities.

The association’s 80 member enterprises will squeeze 1 million tonnes for temporary batch in sequence to say a cost of rice during 5,500-6,000 VND per kilo and safeguard farmers are creation a profit.

The cost of rice has started to tumble in a Cuu Long (Mekong) Delta provinces of Dong Thap, Tien Giang and An Giang, pronounced a association.

Duong Nghia Quoc, executive of a Dong Thap Department of Agriculture and Rural Development, pronounced a VFA’s devise is a good pointer for farmers, though a lack of collateral would impact purchasing activities and exports.

“High interest loans will impact purchasing activities since exporters are reluctant to take them out during a moment,” pronounced Cao Thi Ngoc Hoa, deputy general executive of a Southern Food Corporation.

“Only those that have already sealed trade contracts will squeeze now,” Hoa said.

High interest loans will also impact investment in warehouses and drying facilities that are indispensable to boost a value of rice in line with new Government standards for rice exporters that willbecome effective on October 1, she said.

Only a An Giang Import Export Joint Stock Company (Angimex) has reached a standards required to be awarded a certificate by a Ministry of Industry and Trade underneath Decree 109 on trading and exporting rice.

According to a VFA, Vietnam expects to trade 3.9 million tonnes of rice in a initial half of this year./.

http://www.vietnamnews.us/business/consortium-to-buy-up-surplus-rice/


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