Rice seller in Hanoi outdoor market
Pix:Margery H. Freeman
I blogged on the downslide price of rice in Vietnam last June as the Dong, the Vietnamese currency, was devalued at 2% as reported by the Economist. This may be good news for Malaysian consumers but bad for both Vietnamese and Malaysian farmers. There'll be "Foul" cries about, on or for subsidies.
It costs US$15 per tonne per month in interests just to store the rice.
Truong Thanh Phong, Chairman of the Viet Nam Food Association, has a lot of explaining to do:
It doesn't make it easier for Vietnamese farmers as rice harvest season approaches for Indonesia and Malaysia and their high prices and shipping fees only compound the problem.
Vietnamese rice noodle soup