The Mekong Delta province of An Giang is purchasing paddy equivalent to 223,650 tonnes of milled rice for stockpile from March 15 to April 30.

Deputy director of the provincial Industry and Trade Department Nguyen Thi Minh Kieu said that 146,000 tonnes will be bought by 16 local businesses, and the remaining, by 16 others from outside the province who registered to buy paddy from local farmers. They are all members of the Vietnam Food Association.

The prices are applied at the time when paddy is sold in order to stabilise the market and ensure the interest for farmers in the locality and the Mekong Delta region, Kieu said.

Local commercial banks pledge to provide enough loans for businesses involved.-VNA