Prime Minister requests strict handling of cases of illegal profiteering, pushing up rice prices

Báo Sài Gòn Giải phóngBáo Sài Gòn Giải phóng06/08/2023


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Prime Minister Pham Minh Chinh has just signed Directive No. 24/CT-TTg on ensuring national food security and promoting sustainable rice production and export in the current period.

In recent times, the global food trade situation has been complicated, rice prices have tended to increase due to some countries banning exports, reducing rice sales, some other countries increasing rice reserves, the Black Sea grain agreement expiring, the impact of extreme weather events, natural disasters and droughts...

In Vietnam, some localities have seen massive purchases of rice, causing a local imbalance in supply and demand, pushing domestic rice prices unreasonably high.

To ensure national food security in all situations, promote the potential and advantages in rice production and export market opportunities, increase people's income, avoid speculation, illegal profiteering, causing instability in the market and reputation of Vietnamese rice, the Prime Minister requested the Minister of Agriculture and Rural Development to preside over and coordinate with the Minister of Natural Resources and Environment to direct localities to review planning orientations, develop large-scale, high-quality commercial rice production areas, ensure land areas specialized in rice cultivation; closely monitor weather, natural disasters, and epidemics to promptly adjust production, ensure the production target of over 43 million tons of rice/year in the following years; urgently develop, implement on schedule and effectively the project on sustainable development of one million hectares of specialized high-quality, low-emission rice associated with green growth in the Mekong Delta region by 2030.

Prime Minister requests strict handling of cases of illegal profiteering, pushing up rice prices photo 1

The Prime Minister requested strict handling of cases of illegal profiteering, pushing up rice prices. Photo: VIET CHUNG

At the same time, the Ministry of Agriculture and Rural Development shall preside over and coordinate with the Minister of Industry and Trade, Chairmen of People's Committees of provinces and cities, and Chairman of the Vietnam Food Association to closely monitor developments in the regional and world rice market, the production situation, and rice output by type and season of the year to balance rice sources to serve domestic and export rice consumption needs, firmly ensuring national food security in all situations; promptly guide and advise localities, businesses, and farming households to strictly comply with the regulations of Vietnam and importing countries.

The Prime Minister also requested the Minister of Finance and the Governor of the State Bank of Vietnam to proactively and promptly direct the implementation of price stabilization measures, support rice producers, rice exporters and traders in accordance with the law. The Minister of Finance shall preside over and coordinate with the Minister of Agriculture and Rural Development and the Minister of Industry and Trade to calculate and balance appropriate and effective rice reserves, and absolutely not let people lack food or rice during crop failures, natural disasters, epidemics, etc.

Chairmen of People's Committees of provinces and cities shall proactively direct and manage the organization of rice production to ensure productivity, quality and output targets according to plan; direct competent agencies to closely monitor the situation, inspect and supervise the production, 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, pushing up unreasonably high rice prices, causing instability in the domestic market and the reputation of the Vietnamese rice brand in the international market.

Rice export traders must strictly maintain the minimum circulating reserve level, and report periodically and suddenly as required by relevant ministries and branches and according to Government regulations; proactively monitor the global rice trade situation, exchange information with the Vietnam Food Association to promptly report to relevant ministries and branches on arising issues and propose solutions; carefully research partners before signing contracts, and be especially careful in delivering, receiving and paying for shipments to avoid being scammed...



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