(NLDO) – Rice prices have plummeted, so we hope banks will create conditions for people to access capital and be able to store goods, thereby being more proactive about commodity prices.
This is the opinion expressed by Mr. Do Ha Nam, Vice President of the Vietnam Food Association (VFA) and Vice President of the Vietnam Coffee and Cocoa Association, at the workshop "Using capital effectively to promote economic growth" organized by Tuoi Tre Newspaper on February 28, in Ho Chi Minh City.
According to Mr. Do Ha Nam, the price movements of the coffee and rice markets are showing opposite trends, greatly affecting the capital flows of people and businesses in the two industries.
For coffee, in early 2025, the price fluctuates around 5,500 USD/ton, helping farmers earn 3-4 times more profit, bringing in a large financial source. In 2024, Vietnam's coffee exports will earn 5.48 billion USD. This year, it is expected to reach over 6 billion USD from this agricultural product.
On the contrary, in the food industry, specifically rice, there is a sad situation with limited output, prices falling from about 8,000-9,000 VND/kg to 6,000 VND/kg but cannot be sold.
"While coffee farmers have a large amount of cash, are ready to store goods, and control prices, many rice farmers are poor and cannot store rice, so they cannot control the price drop. In the face of this situation, banks need to create conditions for people and businesses to access capital, have the ability to store goods, and thereby be more proactive about commodity prices. The flexibility of banks in lending will promote development for farmers and businesses related to agricultural products," said Mr. Do Ha Nam.
VFA leaders also proposed that there should be a policy of giving priority to reputable people and businesses when lending, especially related to mortgages using assets. Instead of letting people borrow money from outside, banks should make it easier for farmers to borrow money. Promote lending activities by accepting mortgages of money, goods, contracts, etc. as long as the borrowers' reputation is assessed.
With a credit growth limit of 16% in 2025, about 2.5 million billion VND will be supplied to the economy. Photo: Q.D
Also related to capital, Mr. Nguyen Dang Hien, Vice President of the Ho Chi Minh City Food and Foodstuff Association, emphasized that food and foodstuff is an essential industry, but in reality, businesses in the industry are mainly small and medium-sized enterprises, even micro-enterprises. Access to capital is still limited.
"Businesses are always concerned about how to borrow capital from banks and are always looking for loans from banks with low interest rates. We hope that the State Bank and commercial banks will pay attention and share difficulties with businesses in the food and foodstuff industry," said Mr. Nguyen Dang Hien.
Regarding the capital issue for businesses, speaking at the workshop, Deputy Governor of the State Bank Dao Minh Tu said that with the credit growth limit of 16% in 2025, an additional VND 2.5 million billion will be supplied to the economy. The banking industry will have many solutions to meet the capital needs of businesses.
Regarding the feedback related to access to capital, especially preferential loan packages, Mr. Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam, Ho Chi Minh City branch, said that recently, the export sector, food and coffee industries have received many incentives. Interest rates are also very preferential because these are effective sectors, the growth drivers of the economy.
"We will take note of the problems of businesses and resolve them in the near future. If the problem is slow in processing documents, it can be resolved, but if it is related to credit regulations and principles, banks must comply to ensure credit safety and avoid creating more bad debts," said Mr. Lenh.
Source: https://nld.com.vn/mong-ngan-hang-ho-tro-von-giam-thuc-trang-dau-buon-cua-nganh-gao-196250228145250799.htm
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