Ministry of Industry and Trade works to ensure rice export
The Ministry of Industry and Trade (MoIT) is closely monitoring rice production and the world rice market with a view to promptly tackling arising problems and facilitating rice production, business, and export.
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Statistics showed that as of the end of October, Vietnam exported 7.1 million tonnes of rice for about 3.97 billion USD, a rise of 17 per cent in volume and 34.9 per cent in value over 2022. Vietnamese export rice prices increased 15.3 per cent year on year.
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| The Ministry of Industry and Trade (MoIT) is closely monitoring rice production and the world rice market with a view to promptly tackling arising problems and facilitating rice production, business, and export. |
In the first nine months of 2023, Asia was the largest market of Vietnam, consuming 76 per cent of the country’s total rice export volume. It was followed by Australia with 2.41 per cent, Europe with 1.6 per cent, and America with 1.5 per cent.
Particularly, the Philippines continued to be the biggest importer of Vietnam's rice with nearly 2.5 million tonnes, accounting for 38.1 per cent of Vietnam's total rice export volume.
According to the MoIT, Vietnam has been keeping in the right direction on rice export structure and quality as outlined by the rice export market development strategy until 2030, with white rice accounting for the largest share (55.5 per cent or 3.56 million tonnes), followed by fragrant rice (24 per cent or 1.5 million tonnes) and sticky rice (8.5 per cent or 545,000 tonnes).
In the face of complicated developments in global food trade, including India's ban on export of non-basmati white rice, Russia's withdrawal from the Black Sea Grain Initiative, climate change and El Nino phenomenon, the MoIT has coordinated with the Ministry of Agriculture and Rural Development and the People’s Committees of rice production localities, the Vietnam Food Association as well as rice traders to roll out various measures to regulate rice production and export activities in 2023, while ensuring the stability of the domestic rice market.
At the same time, the MoIT has regularly inspected rice business and exporting activities of traders. It has revoked the rice export certificate from 28 traders who did not export rice for 18 consecutive months after receiving the certificate, contributing to creating a business environment that is more open, transparent, and fairer in line with the law.
(Source: VNA)
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