The above information was given by Mr. Nam at the workshop "Role and tasks of agricultural extension and community agricultural extension when implementing the Project of 1 million hectares of high-quality, low-emission rice associated with green growth in the Mekong Delta (Project of 1 million hectares of high-quality rice)" organized by the Ministry of Agriculture and Rural Development in coordination with the People's Committee of Tra Vinh province.
Deputy Minister of Agriculture and Rural Development Tran Thanh Nam said that according to initial calculations, when implementing the Project of 1 million hectares of high-quality, low-emission rice associated with green growth in the Mekong Delta, in addition to profits from selling rice, farmers are likely to receive an additional 100 USD/ha from selling carbon credits. Photo: Huynh Xay
Mr. Nam emphasized that the World Bank will buy all carbon credits in the 1 million hectare high-quality rice project. Accordingly, 1 ton of rice is about 10 USD, 1 hectare with a yield of about 10 tons is equivalent to 100 USD. "This is the initial calculation and is achievable" - Mr. Nam said.
To measure and receive reasonable carbon credit payments in addition to selling rice, Mr. Nam requires people to follow the correct procedures set forth by the agricultural sector.
Regarding the process, the Department of Crop Production and related units will issue a draft next April, after widely consulting with all parties.
After the draft is available, the Ministry of Agriculture and Rural Development will pilot the 1 million hectare high-quality rice project in 5 localities (including Tra Vinh). Each locality will implement 50-70 hectares to calculate the emission reduction results.
"Next May, we will start the pilot project, and by August and September, we will have rice with reduced emissions. After three consecutive crops, we will have an official process. At this time, the Ministry of Agriculture and Rural Development will have an emission standard, and on that basis, work with the World Bank on carbon credit payments," the Deputy Minister of Agriculture and Rural Development added.
Leaders of the Ministry of Agriculture and Rural Development surveyed locations to select pilot projects for 1 million hectares of high-quality, low-emission rice associated with green growth in the Mekong Delta. Photo: Huynh Xay
As Dan Viet reported, in the approved 1 million hectares of high-quality rice project, 12 provinces and cities in the Mekong Delta region participated in the implementation (except Ben Tre).
In phase 1 (2024 - 2025), localities will focus on consolidating the existing areas of the Vietnam Sustainable Agriculture Transformation Project (VnSAT) of 180,000 hectares. Phase 2 (2026 - 2030), will expand by another 820,000 hectares.
The project's goal is to form 1 million hectares of high-quality rice cultivation areas according to the value chain, applying sustainable farming processes to increase value, sustainable development of the rice industry, improve production and business efficiency, income and life of rice growers.
In addition, the project also aims to protect the environment, adapt to climate change and reduce greenhouse gas emissions, contributing to the implementation of Vietnam's international commitments, towards the goal of net zero emissions by 2050.
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