Laos to establish national rice bank

HANOI: The Lao government will establish a national rice bank capable of storing 60,000 tons of the commodity to ensure food security, Lao newspaper Vientiane Times reported Monday.

The government will require both state and private sectors, as well as localities nationwide to stockpile rice, and encourage local military and security organizations to do the same.

“Some provinces which have a lot of rice might be enthusiastic about exporting rice, but they are required to implement a domestic balance policy.

It doesn’t mean we have a policy of closing the door on export and trade, but we need to guarantee domestic supply as a priority, otherwise we might face the same food crisis other countries are experiencing,” the newspaper quoted Lao Prime Minister Bouasone Bouphavanh as saying.

Laos will encourage local farmers to have rice at their own storage facilities, in case there is a natural disaster or rice shortage in a nearby area. In such a situation, the government could purchase rice from farmers to solve any problems in a timely fashion.

The Lao Ministry of Industry and Commerce is now working with provincial industry and commerce departments nationwide to collect figures on rice demand in their areas. Besides, local authorities have been required to collect data on rice production in their provinces.

Tuesday, Xinhua