Along the roads with rice mills, these days people gather in large numbers to buy rice to store for later consumption - Photo: MAU TRUONG
According to records on January 17, rice mills in Cai Lay town, Tien Giang province were still crowded with vehicles and people gathering to buy rice.
The reason why many people in the West rushed to buy rice to stockpile
Unlike before, when only trucks parked in front of the rice mill waiting to transport goods for export, now most of the motorbikes and three-wheeled vehicles come to buy rice in small quantities for storage. On average, each person buys about a few 50kg bags.
Present at Ngoc Hoa rice warehouse (Ward 1, Cai Lay town, Tien Giang province) at noon the same day, Ms. Phan Thi Diem (residing in Phu Quy commune, Cai Lay town) said that in the past few days, her neighbors had brought a lot of rice to stockpile. After knowing that the price of rice was cheap, she and her husband took advantage of their lunch break to ride their motorbike to buy some.
“Normally, a 50kg bag of Sa Mo rice is sold for 800,000 VND, sometimes even higher, but today I bought it for 600,000 VND/bag.
Seeing that I could make a profit of several hundred thousand, I bought two bags in advance to store for later consumption. I calculated that I made a profit of about 400,000 VND," said Ms. Diem.
Along Provincial Road 868, many rice mills display rice on the roadside and hang up discount signs. Sa Mo rice is sold for 600,000 VND/bag, and Thom rice is 750,000 VND/50kg bag.
This price is about 200,000 VND lower per bag than it was more than a week ago. Although not as crowded as the first days, the rice mills are always bustling with buyers and sellers.
In addition to people buying rice to store for later consumption, many companies and organizations also transport rice by truck to distribute to workers; or do charity work, distributing to poor and disadvantaged households.
Mr. T. (owner of a rice mill in Cai Lay town) said the reason why rice mills have been selling rice in retail in recent days is because the export price of rice has dropped, so the mills have been selling rice in retail to people to cut losses.
Mr. Luu Van Phi - Director of Tien Giang Department of Industry and Trade - said that in recent days, through grasping actual information, he realized that rice prices are decreasing by about 2,000 VND/kg compared to before.
The main reason is that the rice export market is facing difficulties, because after a period of time India stopped exporting rice, now they have opened up and released a huge amount of rice to the market.
Regarding the people rushing to buy rice during this time, according to Mr. Phi, people mainly see that the price is cheaper than before, so they buy it to store and eat gradually.
After many factories simultaneously sold off their goods, many people went to warehouses to buy and stock up - Photo: MAU TRUONG
Rice from mills is displayed for sale on a street in Cai Lay town, Tien Giang province - Photo: MAU TRUONG
With the prices currently listed by factories for the two types of rice mentioned above, people buying at this time will be about 200,000 VND cheaper per bag - Photo: MAU TRUONG
Many types of rice are sold on the street in Cai Lay town, Tien Giang province - Photo: MAU TRUONG
Seeing that rice prices were cheap, Ms. Phan Thi Diem (residing in Phu Quy commune, Cai Lay town) and her husband bought 2 bags to eat gradually - Photo: MAU TRUONG
In addition to people buying a few bags, many people also use three-wheeled vehicles and passenger vans to buy cheap rice - Photo: MAU TRUONG
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