VFA buys and temporarily stores 1 million tons of rice

Purchase period starts July 15 and ends August 30.

The temporary storage period of this amount of rice is 3 months with the aim of not letting the price of dry rice fall below 5,000 VND/kg. There will be about 80 member enterprises of the Vietnam Food Association (VFA) participating in purchasing 1 million tons of rice for temporary storage.

In June 2011, Vietnam will export about 650,000 tons of rice, bringing the total rice export output in the first six months of the year to 3.9 million tons.

By the end of May 2011, businesses had signed export contracts for 4.47 million tons, an increase of 9.34% over the same period last year. The average export price reached 472.6 USD/ton, an increase of 18.83 USD/ton over the same period in 2010.

According to Tuoi Tre