Nov. 10 (Bloomberg) -- Vietnam may construct a 4 million metric ton rice-storage depot in the Mekong Delta to reduce post-harvest losses, Tuoi Tre reported, citing the Ministry of Agriculture and Rural Development.

The project will cost 7.62 trillion dong ($426.5 million), according to the newspaper’s report. Vietnam loses about 11 percent to 12 percent of the crop after harvesting because of the nation’s poor warehousing system, the report said.

The world’s second-biggest rice exporter produces more than 38 million tons of rice each year, exporting 4 million to 5 million tons, the report said. The warehouse system is able to store just 2 million tons, it said.

To contact the reporter on this story: Nguyen Kieu Giang in Hanoi at giang1@bloomberg.net

Last Updated: November 9, 2009 20:14 EST