Prime Minister orders measures to stabilise rice price

Prime Minister Pham Minh Chinh.

The Government Office has just issued Document No 6263/VPCP-KTTH, conveying the opinion of Prime Minister Pham Minh Chinh about India's restriction on rice exports and its impact on Vietnamese rice production and export.

The Prime Minister requested the Ministries of Agriculture and Rural Development, Industry and Trade, and Finance to actively monitor and closely follow the situation so as to implement appropriate and timely measures and solutions according to their competence and legal regulations, ensure food security, efficiency in rice export management, stabilise rice market prices and farmers' benefits; promptly report to the Prime Minister issues beyond the competence of the ministries.

India's restriction on rice exports is said to have an impact on the volume and price of Vietnamese rice exports. The domestic price of rice has increased significantly over the past week.

However, during a conference co-hosted by the Ministry of Agriculture and Rural Development and the People’s Committee of the Mekong Delta city of Can Tho late last week, Chairman of the Vietnam Food Association Nguyen Ngoc Nam still forecast that Vietnam’s rice export is likely to surpass the target set for this year.

The country earned nearly 2.4 billion USD from exporting 4.97 million tonnes of rice in the first eight months of this year, up 20.7% in volume and nearly 9.9% in value from the same period last year.

Vietnam plans to ship 6.3-6.5 million tonnes of rice this year, or 100,000–200,000 tonnes more than 2021./.

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