Ministry of Industry and Trade ensures dual goals in rice export management

According to preliminary statistics from the General Department of Customs, by the end of the first quarter of 2024, rice exports reached 2.18 million tons, up 17.8% in volume; value reached 1.43 billion USD, up 45.6% in value. The average export price was 653.9 USD/ton, up 23.6% in price compared to the first quarter of 2023. The main markets for rice exports in the first quarter of 2024 were: Philippines (over 1.01 million tons, up 13.2% over the same period in 2023); Indonesia (over 445 thousand tons, up 199.7%); Malaysia (nearly 99 thousand tons, up 28.8%).

Ministry of Industry and Trade ensures dual goals in rice export management

In order for rice export management to ensure the target of consuming commercial rice and paddy, respond flexibly and promptly in the context of many market fluctuations, towards sustainable development of the rice industry, and increase income for farmers, the Prime Minister issued Directive No. 24/CT-TTg dated August 5, 2023 on ensuring national food security and promoting sustainable rice production and export; Directive No. 10/CT-TTg dated March 2, 2024 on promoting sustainable, transparent and effective production, business and export of rice in the new situation.

The Ministry of Industry and Trade issued Directive No. 07/CT-BCT dated August 15, 2023 on strengthening market information, trade promotion, developing rice export markets and stabilizing the domestic market and Directive No. 03/CT-BCT dated March 25, 2024 on promoting market development, trade promotion, promoting circulation and consumption of rice products in the new situation.

On April 26, 2024, the Ministry of Industry and Trade chaired and coordinated with the Ministry of Agriculture and Rural Development to organize a conference to evaluate rice export activities in the first months of 2024, discuss solutions and directions for rice export management with the participation of representatives of relevant ministries, branches, the Vietnam Food Association (VFA) and rice export traders.

The conference discussed information on domestic rice output and reserves, credit mechanisms for businesses, opportunities and challenges, etc. and agreed to resolutely and simultaneously implement many measures to ensure supply, stabilize domestic food prices, and reduce risks for export activities.

In the coming time, to ensure national food security and promote sustainable rice production and export, the Ministry of Industry and Trade will soon issue a Decree amending and supplementing Decree No. 107/2018/ND-CP of the Government on export business to perfect the legal framework for rice export activities, creating a transparent, fair and favorable business environment for rice exporters.

Regarding export support, implementing trade activities, promoting Vietnamese rice products and brands, and trade promotion activities to effectively exploit advantages from free trade agreements (FTAs) to diversify, capture new and potential markets and enhance competitiveness for the Vietnamese rice industry.

Direct the Vietnamese Trade Office system abroad, trade promotion offices, and Vietnamese product introduction centers to support rice exporters in establishing direct distribution channels; implement activities to promote Vietnamese rice, especially high-quality rice with high added value, to penetrate demanding and niche markets.

Direct the Vietnam Trade Office system in foreign countries to monitor and update policies and movements of rice producing and exporting countries; promptly inform ministries, branches, Vietnam Food Association, and rice export traders to proactively regulate production and business activities, ensuring efficiency.

Guide the Vietnam Food Association and rice export traders to improve their capacity to negotiate, sign and execute export contracts, update the rice export situation and support traders to handle problems when necessary.

Regarding the balance of supply and demand, price stabilization, and ensuring domestic food security, the Ministry will continue to closely monitor the market situation, proactively direct localities to have plans to prepare supply sources, ensure supply and demand of rice products, promptly meet people's needs, contribute to stabilizing rice prices in particular and food prices in general, and ensure national food security.

Urge the Vietnam Food Association and rice export traders to strictly implement the provisions of Decree No. 107/2018/ND-CP, including periodic reporting on the amount of rice in stock, the status of signing and implementing rice export contracts; the status of purchasing rice to ensure the balance between export and domestic consumption; and maintain the circulating reserve level according to regulations.

Direct market management forces to strengthen coordination with local authorities to closely monitor, inspect and supervise the circulation and consumption of rice in the area and the maintenance of minimum circulation reserves of rice export traders according to regulations; strictly handle cases of speculation, illegal profiteering, causing instability in the domestic market.

Source: https://congthuong.vn/bo-cong-thuong-dam-bao-muc-tieu-kep-trong-dieu-hanh-xuat-khau-gao-322432.html