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State Bank urged to increase credit to farmers VNTimes


Deputy Prime Minister Hoang Trung Hai has asked the State Bank toconsider increasing credit quota to farming households, and work withthe Ministry of Agriculture and Rural Development to improve farmers’access to capital.

The Government official madethe request at a June 8 conference in Hanoi to seek solutions todifficulties facing the rice production, animal husbandry and fisherysectors.

He said financial assistance isnecessary to help farmers, including those involved in animal husbandry,to maintain production.

Deputy PM Hai also toldrelevant ministries and sectors to seriously implement the PrimeMinister’s decision on purchasing 1 million tonnes of rice forstockpiling, which aims at stimulating demands on the market andensuring profits for rice farmers.

Representativesfrom trade organisations urged the Government to soon take measures toremove obstacles to investment, production and consumption, particularlyfinancial measures to help farmers and businesses maintain production.They proposed higher credit quota for farmers in the Mekong Delta, andfreezing or scheduling debts to allow farmers and businesses tore-invest. They also expressed hope that relevant organisationsaccelerate trade promotion activities to help boost sales.

According to the Ministry of Agriculture and Rural Development,weakening demands and the downward trend in price are affecting riceexports of all major rice export countries. In the January-May period,Vietnam exported 2.79 million tonnes of rice, up 1.14 percent involume. However, by May 31, the total rice inventories of all businessesamounted to 1.7 million tones, which put pressures on the domestic riceprice.

The ministry also reported that animalhusbandry has scaled down due to concerns of both breeders and consumersabout diseases. At the same time, lower purchasing power as a result ofthe economic crisis and rising input costs have eaten into farmers’profits. Difficult access to capital plus high interest rate is posingmore problems to this sector.

The situation is thesame in the fishery sector. The export of aquatic products also met withdifficulties such as technical barriers in developed markets.-VNA

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