August 5, 2011

Vietnam to implement measures to meet food security

In order to ensure food security and enhance exports, relevant Vietnamese authorities were encouraged to implement actions targeted at increasing the amount of breeding stock, stabilising food prices and preventing disease during a government meeting organised on August 3.

July witnessed up to 70% sudden surge in pork prices compared to the same period last year due to high demand.

"The soaring price of foodstuff, particularly pork, has brought farmers high profits yet at the same time added a remarkable burden on people, especially those who rely on a fixed monthly salary," said Minister of Agriculture and Rural Development Cao Duc Phat.

"The ministry has called on local authorities to help increase supplies in an effort to stabilise the foodstuff market." At the meeting, PM Dung asked the State Bank to keep a tight grip on the banking system and real estate credit, gradually reducing interest rates alongside a decrease in the consumer price.