VietNamNet Bridge – The rice price began decreasing on the afternoon of April 28 after the Government made a strong commitment to provide enough rice to people and threatened to punish speculators.

Rice fever to be stamped out in some days

Rushing to buy rice, prices skyrocketing

The rice price at Tran Chanh Chieu wholesale market in HCM City decreased by VND8,000/kg yesterday afternoon. Thailand-sourced fragrant rice price dropped to VND17,000/kg from VND25,000/kg, while popular types of rice dropped to VND13,000/kg from VND16,000/kg.

Saigon giai phong newspaper quoted Nguyen Chi Trung, Deputy Head of the Management Board of Tran Chanh Chieu Market as saying that the rice price would further decrease when more rice is carried to markets by rice export companies.

Though the rice prices decreased considerably yesterday afternoon, some retailers in the city still tried to sell at high prices because they had to purchase rice at high prices before.

While petty traders at Linh Trung Market yesterday afternoon sold rice at new prices lower than the morning’s prices, traders at Bac Ninh market, just 2km far from Linh Trung market, still sold at the morning’s prices.

In the Hue City, many people, who purchased rice at high prices on April 28 morning, gave the rice back to sales agents in the afternoon of the same day.

Nguyen Van Dung, the biggest rice sales agent on Hung Vuong Road, said that he had got back more than 5 tonnes.

The rice price storm has also been subsided in the central city of Da Nang as the city’s authorities set up five stalls in the city to sell rice to people. The sale price was VND9,500/kg, which was the price quoted by Big C and Metro supermarts before the price storm.

Director of the Da Nang Food Joint Stock Company Pham Tan Cung said yesterday that 200 tonnes of rice was on the way from the south to Da Nang, and 60 tonnes of rice from Binh Dinh province was also being carried to the city. The company has promised to provide 2,000 tonnes of rice to Da Nang’s market from now to the end of the week.

Minister of Agriculture and Rural Development Cao Duc Phat on April 28 morning called directly to leaders of food corporations (Vinafood 1 and Vinafood 2), requesting to open the stocks and carry rice to big cities in order to stamp out the rice price fever.

Truong Thanh Phong, General Director of Vinafood 2, Chairman of the Vietnam Food Association, said that rice export companies undertake to provide enough rice to retailers. Any supemart that does not have rice to sell, should contact Vinafood directly at 08.8256251; 08.8292342.

The rice price storm was over as the price began decreasing, but this still could not help much in easing the worries of the poor people. As everything becomes more and more expensive, they have to tighten their belts and only spend money on basic needs.

Dang Vy – Ha Phuong – Huyen Thu – Kim Toan