Regarding the information reflected on Dan Viet Newspaper about traders buying rice for a business (Loc Nhan Food Joint Stock Company (Loc Nhan Company) - a member of Loc Troi Group) but not paying immediately, making repeated appointments, causing many people in Co Do district, Can Tho city to be restless, the media of Loc Troi Group has officially responded.
Mr. Phan Van Quan, residing in Hamlet 2, Thanh Phu Commune, Co Do District, Can Tho City, spoke with reporters on March 5. Photo: Huynh Xay
According to the media representative of Loc Troi Group, the reason for the delay in paying rice to farmers is that in the past few weeks, there has been some disturbance in the bank cash flow, so the arrangement of cash to pay farmers has been delayed.
During this time, Loc Troi Group is working with banks to arrange the necessary cash to be transferred to farmers as soon as possible.
"On the side of Loc Troi Group, we find that paying in cash in large quantities during the peak rice harvest is very difficult" - Loc Troi Group Media emphasized.
Loc Troi Group's media said that the Group is working with Loc Nhan Company to find urgent and long-term measures to avoid further delays in paying for rice purchases.
One of the proposed solutions is to convince people to open bank accounts so they can transfer money directly instead of having to withdraw cash and pay in cash as they do now.
When Dan Viet reporter mentioned why Loc Nhan Company did not sign a contract to buy rice directly with farmers, but had to go through traders, leading to loose trading and making people lose confidence in the business, Loc Troi Group Media informed that Loc Nhan Company cooperated with a team of traders to buy rice because farmers still have the habit of selling rice to traders, then traders sell rice to companies.
The 2024 winter-spring rice purchase contract between Mr. Nguyen Van Cop and the trader. Photo: Huynh Xay
As Dan Viet reported, on March 4, many people went to the headquarters of Loc Nhan Company in Thanh Phu commune, Co Do district, Can Tho city to demand money for the 2024 winter-spring rice that had been sold earlier.
Here, the people met with the company representative and were promised to pay as soon as possible. Despite this promise, the people were still very uneasy.
Regarding the reason why many people came to Loc Nhan Company's headquarters to demand money for winter-spring rice, talking to reporters, most people said that this company, through traders, bought rice from people but did not pay immediately, making repeated appointments.
Mr. Phan Van Quan, residing in Hamlet 2, Thanh Phu Commune, said that his family sold more than 90 tons to a local trader (this trader bought rice for the food company mentioned above - PV) at a price of 8,600 VND/kg.
Because the trader did not pay immediately as agreed, he did not let the boat carry the rice. Seeing this, the trader paid in advance about 200 million VND (the total amount the trader had to pay Mr. Quan was about 800 million VND).
The remaining amount, the trader promised to pay after 3 days, but then continued to promise and refused to pay. "They promised again and again, promised last Friday (March 1 - PV) but refused to pay, so I and many people went to the company to demand. At this time, the company representative promised to pay next Friday (March 8 - PV), but I don't know if they can pay or not" - Mr. Quan told reporters at noon on March 7.
Mr. Quan said that it has been 10 days since he sold rice to traders (March 7) but he has not received any money. This makes him worried because he rents most of his rice fields and needs money to invest in the new rice crop.
Mr. Nguyen Van Cop, residing in Trung Hung commune, Co Do district, Can Tho city, informed reporters on March 5 that he had sold more than 5 hectares of winter-spring rice to the above company through traders and had not received the money yet.
"I harvested winter-spring rice twice, the first time on the 13th of the lunar calendar and the second time on the 15th of the lunar calendar, but I still haven't received the money. So far, the traders have promised to pay me three times," Mr. Cop informed.
In addition to owing money for rice, Mr. Cop said that traders had asked him to reduce the price of rice from 8,500 VND/kg to 8,300 VND/kg. Not stopping there, the combine harvester entered the field 3 days later than promised and was weighed 4 days late.
Mr. Cop commented that the rice being left in the field past the harvest date and the late weighing caused a significant loss in rice yield.
Not only because of the above 2 households, many other farming households in Co Do district, Can Tho city also informed that traders buying rice for enterprises requested to reduce rice prices, harvest time and rice weighing were delayed compared to the original agreement.
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