PM requests 30-percent profit for rice growers

Hanoi (VNA) - Prime Minister Nguyen Tan Dung has asked two major State-owned food businesses to purchase all commercial rice from farmers and ensure a rational profit, at least at 30 percent, for them.

Addressing a working session with the Northern and Southern Food Corporations on
March 4, PM Dung also urged them to upgrade and build more storages for rice and
other farm produce in 2009 and 2010.

He stressed Vietnam now is one of three biggest rice growers and the second biggest
rice exporter in the world, but its rice is sold at rather low prices and yet to
make a strong trademark and gain a firm foothold on the world market.

In addition, the country lacks an effective network to ensure food supply and
distribution.

Therefore, one of the major tasks for the two corporations is to build up a
trademark for Vietnamese rice and secure export markets.

The Southern Food Corporation's General Director Truong Thanh Phong reported that
his corporation plans to purchase and sell 2.8 million tonnes of rice in 2009 to
earn over 30.6 trillion VND.

Phong admitted a tardy reaction to the rice price fever in April last year, that
led to instability on the domestic market, especially in the context of high
inflation.

General Director of the Northern Food Corporations, Tran Ba Hoan, said his
corporation plans to purchase 2.85 million tonnes of foods and sell 2.7 million
tonnes, including 720,000 tonnes for exports.

The country intends to export 3.4-3.5 million tonnes of rice in the first six
months of this year and 4.5-5 million tonnes in the whole year.-Enditem