The Vietnam Food Association has submitted to the Government a plan to buy 1 million tonnes of rice from farmers for temporary stockpile.

The move is seen as part of efforts to stabilize rice prices in the country.

The association proposed that one million tonnes of rice should be bought from March 15 to April 30 and stored for three months.

It also asked the Government to consider the application of supportive measures in terms of loan interest rates for rice businesses in realising the move.

Regarding export, the association plans promotion activities to expand markets, eying China . It looks to sell high-quality rice to the neighbouring country, starting with the establishment of a Vietnam-China rice traders’ club within the first quarter this year./.