Ensuring supply and stabilizing the domestic rice market

Minister Nguyen Hong Dien affirmed that he will ensure supply and stabilize the domestic rice market, helping to control prices and ensure benefits for farmers.

The Ministry of Industry and Trade has just issued Document No. 1893/BCT-VP dated March 19, 2025, on the Notification of the Minister's directive on management to ensure balance of rice supply and demand in the face of developments in the world and domestic markets.

Protect food security, maintain market stability

Faced with the complicated developments of the world rice market and the impacts on Vietnam's rice exports, Minister of Industry and Trade Nguyen Hong Dien emphasized key solutions to ensure supply, stabilize prices and protect farmers' interests.

According to the Minister's direction, rice export management must ensure the dual principle: maximizing market advantages, increasing export value, and ensuring domestic food security. The Ministry of Industry and Trade will continue to closely coordinate with the Ministry of Agriculture and Rural Development, the Ministry of Finance and localities to have flexible and practical management policies.

Strengthen market control, prevent speculation and hoarding

Minister Nguyen Hong Dien paid special attention to speculation and hoarding aimed at pushing up rice prices, causing market instability. He requested that authorities strengthen inspection and supervision of the distribution system, strictly handle violations, and avoid price hikes that affect the interests of domestic consumers.

The Ministry of Industry and Trade also directed rice exporters to strictly implement regulations on maintaining minimum circulating reserves, ensuring that when the market fluctuates, there is still enough supply to serve domestic consumption.

Ensuring farmers' benefits, improving the quality of exported rice. Illustrative photo

Ensuring farmers' benefits, improving the quality of exported rice

Minister Nguyen Hong Dien affirmed that, in addition to the export target, protecting farmers’ interests must be a top priority. He requested localities and businesses to purchase rice at reasonable prices, reflecting the true value of the product, and not to allow price gouging to occur, affecting farmers’ income.

At the same time, to maintain the position of Vietnamese rice in the international market, the Minister emphasized improving rice quality, promoting sustainable production, applying modern processing and preservation technology, and expanding high-value export markets.

Synchronous coordination to ensure effective management of the rice market

The Ministry of Industry and Trade will continue to coordinate with relevant ministries and sectors to closely monitor developments in the domestic and international rice market and make timely policy adjustments. In particular, it is necessary to proactively work with major trade partners to expand export markets and ensure sustainable output for Vietnamese rice products.

The instructions of Minister Nguyen Hong Dien show the determination of the Ministry of Industry and Trade in protecting the interests of farmers, stabilizing the domestic market and maintaining the Vietnamese rice brand in the international arena.

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Source: https://congthuong.vn/bo-truong-nguyen-hong-dien-bao-dam-nguon-cung-on-dinh-thi-truong-lua-gao-trong-nuoc-379150.html