Chủ đề: rice

Factors come together to dent one of Vietnam’s major export commodities.

Rice businesses have faced a range of difficulties in harvesting, distribution, processing, and exporting rice because of the pandemic. State Bank of Vietnam Deputy Governor Dao Minh Tu has asked banks to continue to meet capital needs in the industry, offering reasonable terms and interest rates and, especially, loans without collateral.

The State Bank requires credit institutions to provide sufficient capital for traders, enterprises, and rice producers affected by Covid-19 to avoid disruption in the supply chain. Commercial banks are also required to restructure debt repayment terms while keeping debt groups unchanged, exempt or reduce interest and fees, and lend new loans to restore rice production and business.

Rice exports were down 10.6 per cent year-on-year in the first seven months of 2021. While there is demand among international partners for Vietnamese rice, deliveries have been hit by serious disruptions to supply chains. Purchasing and delivering goods as well as loading and unloading them on to ships have all stalled.