Rice trading enterprises have already purchased 1 million tonnes of rice under the Government programme on purchasing rice stock, said an official from the Vietnam Food Association (VFA).
The June 15 – August 15 plan aims to ensure rice farmers, who have been harvesting their rice crop, make a profit from the current summer-autumn season.
Assigned by the VFA, 114 eligible enterprises have joined the programme with a targeted amount of rice to be bought in each province.
In the Mekong Delta, Long An province had a target of 91,000 tonnes, Kien Giang 85,000 tonnes and Bac Lieu and Hau Giang 10,000-15,000 tonnes.
Deputy Minister of Agriculture and Rural Development Vu Van Tam said not all farmers gained a 30 percent profit from the programme this year due to varying production conditions and export prices across different regions.
The association said prices for unhusked rice from the summer-autumn crop increased by 1,000 VND per kilo to 4,700-5,300 VND during the rice purchasing period.
In the first seven months this year, Vietnam exported 4.22 million tonnes, earning 1.88 billion USD, the association said. The exports declined year-on-year by 11.3 percent in volume and 13 percent in value.
The association expected Vietnam to export 2.07 million tonnes in the third quarter and 2 million tonnes in the last quarter.
In total, the nation is set to export about 7.5 million tonnes for this whole year.