March 11, 2011

Vietnam allocates US$2.7 million for 2011 seed reserve

Vietnam's Prime Minister Nguyen Tan Dung has signed a decision granting VND59.13 billion (US$2.7 million) from the state budget to buy crop seeds for reserve in 2011.

The sum will be used to buy 2,800 tonnes of rice seed, 200 tonnes of corn seed and 110 tonnes of vegetables seed, stated local news on Thursday (Mar 10).

The reserve seed will be stockpiled by the Ministry of Agriculture and Rural Development and can be used to provide to farmers in areas affected by natural disasters.

Listed among five areas hardest hit to storms in the Asia-Pacific, Vietnam has suffered losses from natural disasters over the past decade, equivalent to 1.5% of its GDP.