Ministry building long-term strategy on rice exports, market stabilisation: official
The Ministry of Industry and Trade (MoIT) is building a long-term strategy on rice export and market stabilisation, following bans by several countries, according to Deputy Director of the MoIT's Import-Export Department Tran Quoc Toan.
Vietnam can export over 7.5 million tonnes of rice this year. (Photo: VNA)
Hanoi (VNA) – The Ministry of Industry and Trade (MoIT) is buildinga long-term strategy on rice export and market stabilisation, following bans by several countries, according to Deputy Director of the MoIT's Import-Export Department Tran Quoc Toan.
Toan said that export bans byIndia, the United Arab Emirates and Russia, adverse impacts of El Nino, andRussia’s withdrawal from the Black Sea grain deal have strongly influenced theglobal rice supply, thus raising concerns about world food security as well asaffecting the economic recovery of many countries as the inflation situationhas not improved.
He cited data of the Ministryof Agriculture and Rural Development as saying that so far this year, the country hasbeen planting 7.1 million hectares of the grain, with a total estimated outputof around 43.1 million tonnes, 452,000 tonnes higher than that of the previousyear. With the yield, in addition to serving domestic needs, Vietnam can exportover 7.5 million tonnes this year. In the first seven months, 4.83 million tonneswere shipped abroad.
At present, the MoIT iscontinuing to closely coordinate with other ministries, sectors and localities to monitorthe market situation and promptly grasp difficulties and problems of relevant enterprises,so as to propose solutions to remove obstacles and facilitate rice exportactivities from now to the end of this year, said the official.
Harvesting rice in the Mekong Delta region. (Photo: VNA)
The ministry will coordinate with related agencies in implementing tradepromotion programmes in both traditional and online forms in accordance withthe new situation to enhance the value of Vietnam's rice products.
At the same time, it will coordinatewith the Ministry of Foreign Affairs and the Ministry of Agriculture and Rural Developmentto well exploit preferential mechanisms of signed free trade agreements (FTAs) toactively negotiate with foreign partners in order to diversify export markets,occupy new and potential ones, and improve Vietnam’s competitiveness.
Guidance and support will beprovided to help traders and exporters improve their production and businesscapacity; and increase their capacity to negotiate, sign and perform exportcontracts and effectively handle international trade disputes.
Efforts will be made tocontrol supply and prices, and prevent the transportation and trading of riceof unknown origin, added Toan./.
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Vietnam can export over 7.5 million tonnes of rice this year. (Photo: VNA) 
Harvesting rice in the Mekong Delta region. (Photo: VNA) 
