To improve rice prices, leaders of the Ministry of Agriculture and Environment asked businesses to stabilize the market, avoid dumping, and have solutions to stockpile and wait for good market signals. Government leaders directed relevant ministries and branches to study new solutions and policies to support businesses.
Stabilize the market, avoid sell-offs
In order for farmers to sell rice at stable prices, Minister of Agriculture and Environment Do Duc Duy suggested that businesses maintain stable (from mid to late second quarter) purchasing as well as have storage solutions, waiting for the time when the market adjusts and stabilizes before expanding exports.
To improve rice prices, leaders of the Ministry of Agriculture and Environment asked businesses to stabilize the market, avoid dumping, and have solutions to stockpile and wait for good market signals. Photo: HX
According to the Minister of Agriculture and Environment, normally, at the beginning of the year, rice exports will encounter difficulties, leading to price increases. Because at this time, rice importing countries calculate and consider whether to buy or sell, or balance the amount of purchases to reserve for stockpiling, so fluctuations in the rice market during this period are inevitable.
The Minister also analyzed that rice prices are currently returning to the level of 2023, the time before the sudden price increase in 2024, and farmers' profits are still 30% or more. Regarding the export price of rice, in the period of 2022 - 2023, the average price was 400 USD/ton, while currently it is 530 - 540 USD/ton. Therefore, this price level is not too worrying.
In addition, in recent years, Vietnam has made efforts to switch to high-quality rice (currently high-quality rice accounts for about 80-85% of the export market share), while markets that use high-quality goods do not fluctuate much in price.
Not stopping there, farmers in the Mekong Delta grow rice all year round, so the impact of fluctuations in world rice prices can be difficult for a period of 2-3 months. "If we solve the problem of buying and storing to wait for the time when the market adjusts and stabilizes, we will not encounter difficulties" - Minister Do Duc Duy said.
To stabilize rice production, the Ministry of Agriculture and Environment is coordinating with relevant ministries and sectors to closely monitor developments in the world rice market, especially policy adjustments by major rice exporting countries such as India and Thailand, to find appropriate solutions. At the same time, it is providing and updating information promptly to localities and businesses to adjust production and export plans in line with market developments.
For localities in the Mekong Delta region, the Ministry of Agriculture and Environment requires strengthening market management, increasing inspection and supervision of the buying and selling situation of key enterprises and traders, avoiding taking advantage of the situation to force farmers to lower prices for personal gain, and preventing unfair competition between enterprises.
At the same time, there are activities to support businesses to speed up the progress of purchasing and transporting rice to their warehouses.
For associations and enterprises, the Ministry of Agriculture and Environment requires proactively reviewing purchasing, processing, and storage capacity during periods of market fluctuations and low purchase prices, as well as reviewing signed contracts, making efforts to find customers, and expanding markets to contribute to solving the output problem for rice.
In the long term, Minister Do Duc Duy will continue to direct the development of 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). Currently, the project is in the pilot phase but according to reports from localities, it is very successful, especially Kien Giang. Participating in the project, farmers have low production costs and high selling prices according to the chain.
Research on low-interest loans for businesses to buy social housing, 2-year income tax exemption
Recently, on March 7, at the Conference on rice production and consumption in the Mekong Delta, in response to the recommendations of many related units, Deputy Prime Minister Tran Hong Ha requested the State Bank to soon study providing low-interest loans to rice businesses such as those for buying social housing. Businesses will use this loan capital to stockpile rice and apply technology to production.
Deputy Prime Minister Tran Hong Ha suggested that the State Bank soon study low-interest loans for rice businesses, such as for buying social housing. Photo: HX
"Banks should study loan packages to reduce interest rates or recommend to the Government that there should be a Government package to support bank lending interest rates. I think this must be done," said Deputy Prime Minister Tran Hong Ha.
According to Deputy Prime Minister Tran Hong Ha, rice export businesses that are supported with low-interest loans must meet the conditions to participate in Decree 107/2018/ND-CP of the Government.
In order to create conditions for businesses to invest and develop, the Deputy Prime Minister also proposed studying the exemption of income tax for the agricultural sector for 2 years.
To limit unnecessary damage to the rice industry, the Deputy Prime Minister proposed assigning an institute under the Ministry of Agriculture and Environment to build a comprehensive database related to production, processing, preservation, market, and prices to provide warnings and forecasts with a basis for people, local authorities, and businesses to grasp and respond promptly.
Regarding the Ministry of Agriculture and Environment, the Deputy Prime Minister requested coordination with the Ministry of Science and Technology to develop a strategy to prevent other countries from illegally using the Vietnamese rice brand, this action will establish the position and protect the reputation of Vietnamese rice in the international market.
Regarding the Project of 1 million hectares of high-quality rice, the Deputy Prime Minister requested the Ministry of Agriculture and Environment and the Government Office to invite the Ministry of Finance, relevant ministries, branches, associations and even businesses to meet to consider implementation in the coming time.
According to statistics from the Ministry of Agriculture and Environment, in the first two months of 2025, rice exports are estimated to reach 1.1 million tons (up 5.9%), with a value of 613 million USD (down 13.6%). The average export price of rice is estimated at 553.6 USD/ton, down 18.3% over the same period.
Rice output in the Mekong Delta in 2025 is expected to reach 24.057 million tons with an area of about 3.793 million hectares. Of which, the 2024-2025 Winter-Spring crop is expected to yield about 10.772 million tons, with a harvested area of about 1.505 million hectares.
By the end of February, the harvested rice output of the Winter-Spring crop in the Mekong Delta reached 4.174 million tons with an area of 605 thousand hectares, the remaining expected output is 6.598 million tons with an expected area of 900 thousand hectares.
Source: https://danviet.vn/kich-gia-lua-pho-thu-tuong-tran-hong-ha-de-nghi-nghien-cuu-cho-doanh-nghiep-vay-lai-suat-thap-bai-3-20250309144802447.htm
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