Temporary purchase of 1 million tons of rice from March 1, 2015
The Prime Minister has just decided to temporarily purchase and store 1 million tons of rice equivalent in the 2014-2015 Winter-Spring crop in the Mekong Delta from March 1, 2015 to April 15, 2015.
Specifically, temporarily purchase and store 1 million tons of rice equivalent at a conversion ratio of paddy: rice of 2:1; including all types of paddy and rice (including regular rice, sticky rice, fragrant rice and broken rice of all kinds).
Interest support up to 4 months
The Prime Minister assigned the State Bank of Vietnam to direct a number of commercial banks to provide loans for temporary storage of paddy and rice for a maximum period of 6 months from the date of temporary storage purchase until August 31, 2015.
The state budget will support 100% of the interest rate on loans for purchasing rice for temporary storage with a maximum interest rate support period of 4 months from the date of purchase for temporary storage until June 30, 2015.
The Vietnam Food Association organizes the assignment to traders who directly own warehouses storing rice and paddy according to regulations to purchase the above amount of rice and paddy; at the same time, coordinates with the People's Committees of provinces and centrally-run cities in the Mekong Delta region in allocating quotas for temporary storage and directing and guiding the organization of temporary storage of rice and paddy.
Traders purchase and store rice according to market mechanisms and are responsible for business performance.
The Prime Minister requested the Ministry of Finance to preside over and coordinate with the State Bank of Vietnam to provide specific guidance on the implementation of interest rate support according to regulations, and arrange funds from the state budget to implement the above interest rate support.
The State Bank of Vietnam has designated and guided a number of commercial banks to provide loans for temporary storage of paddy and rice according to regulations.
The People's Committees of provinces and centrally-run cities in the Mekong Delta shall coordinate with the Vietnam Food Association in allocating quotas and directing and guiding the purchase and temporary storage of paddy and rice; at the same time, coordinate with relevant ministries and branches to inspect and supervise the purchase and temporary storage of paddy and rice in the locality.
The Ministry of Agriculture and Rural Development shall preside over and coordinate with the Ministry of Industry and Trade, the People's Committees of provinces and centrally-run cities in the Mekong Delta and the Vietnam Food Association to inspect and supervise the allocation of temporary storage targets and the process of purchasing temporary storage of paddy and rice in accordance with regulations; synthesize and report to the Prime Minister the implementation results.
According to Chinhphu.vn
