Rice Traders Halt Purchases Despite Falling Prices

Many rice traders in the Mekong Delta have stopped buying rice from farmers despite a price slump.

A rice field in the Mekong Delta

Retail prices shot up month following a buying binge by the public amid rumors of a shortage.

But prices have been relentlessly falling since. In some Mekong Delta provinces like Dong Thap, An Giang, and Vinh Long, paddy fell to VND5,400 per kilogram Thursday, and high-quality paddy to VND6,000--6,200, down VND1,000 from the pre-hike levels.

It is thought traders are adopting a wait-and-watch attitude.

The winter-spring crop has just been harvested and farmers have begun to sow over 1.5 million hectares for the summer-spring paddy crop.

By Huynh Loi - Translated by Uyen Phuong

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