At a recent meeting between the Department of Industry and Trade of Can Tho City with departments, branches, businesses, and cooperatives, Mr. Huynh Van Bang - Head of the Department of Agriculture and Rural Development of Co Do district said that recently, in the district, there has been a situation where traders buy rice before sowing or a few days after sowing.
Mr. Huynh Van Bang - Head of the Department of Agriculture and Rural Development of Co Do district (Can Tho city) hopes that businesses "do not send soldiers" to buy rice right from the beginning of the season. Photo: Huynh Xay
"There has been a situation where traders buy rice before any seeds have been sown, or 5-10 days after sowing," Mr. Bang informed.
According to Mr. Bang, these traders buy for businesses that do not cooperate with farmers. When they go to farmers, the traders ask for a high price, then deposit 300,000-500,000 VND/1,000m2, and pay the full amount when the rice is ripe.
The head of the Department of Agriculture and Rural Development of Co Do district said: "Traders buy rice right from the beginning of the season because they are afraid that by the end of the season there will be no rice to buy, and there will not be enough goods to supply businesses that do not purchase rice for farmers."
Mr. Bang commented that the above action caused rice prices to "dance", sometimes 2-3 rice prices a day, causing difficulties for businesses that purchase raw rice.
People in Co Do district, Can Tho city harvest winter-spring rice 2024. Photo: HX
Fearing the impact on the market and fearing that traders will forfeit their deposits when rice prices drop and people cannot sell their rice, Mr. Bang hopes that the Department of Agriculture and Rural Development, the Department of Industry and Trade and relevant authorities will send a dispatch to businesses requesting that traders not buy rice right from the beginning of the season.
Regarding the above situation, Mr. Ha Vu Son - Director of the Department of Industry and Trade of Can Tho City said that he will coordinate with the Department of Agriculture and Rural Development to advise the People's Committee of Can Tho City to issue a directive to strengthen the leadership of all levels of government in ensuring that people can buy and sell rice smoothly and stably, even asking the police to intervene to prevent damage and disruption to the rice market.
Particularly for businesses that do not purchase rice but let traders deposit from the beginning of the season, they are also invited to work.
According to statistics from the Department of Agriculture and Rural Development of Can Tho City, in the 2023-2024 Winter-Spring crop, Can Tho City people planted about 72,800 hectares, most of which were concentrated in the three districts of Co Do, Thoi Lai, and Vinh Thanh. The most widely grown rice variety by people is Dai Thom 8, accounting for 67%.
Currently, people in the three districts of Co Do, Thoi Lai, and Vinh Thanh are focusing on harvesting winter-spring rice. According to records, rice prices have decreased compared to the beginning of the harvest season.
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