According to the decree, the state budget will support 100% of the interest rate for loans at commercial banks to purchase and stockpile rice of the summer – autumn harvest in 2010. This was directed in decision No 993/QĐ-TTg on June 30th, 2010 by Prime Minister Nguyen Tan Dung.

The duration for the purchase and stockpile will be from July 15th to September 15th, 2010 but the real stockpile will be carried out during the four months from July 15th to November 15th, 2010.

Prices to be supported with the free-interest loans are the real price of the market, excluding value added tax. In the case of traders buying rice materials to produce rice products, the prices will include production fees.

(CPV)