Ensuring supply and stabilizing the domestic rice market.

Minister Nguyen Hong Dien affirmed that he will ensure the supply and stability of the domestic rice market, helping to control prices and ensure benefits for farmers.

The Ministry of Industry and Trade has just issued document No. 1893/BCT-VP dated March 19, 2025, announcing the Minister's directives on managing and ensuring a balance between rice supply and demand in the face of developments in the global and domestic markets.

Protecting food security and maintaining market stability.

Given the complex developments in the global rice market and their impact on Vietnam's rice exports, Minister of Industry and Trade Nguyen Hong Dien emphasized key solutions to ensure supply, stabilize prices, and protect the interests of farmers.

Following the Minister's directive, the management of rice exports must ensure a dual principle: maximizing market advantages and increasing export value while ensuring domestic food security. The Ministry of Industry and Trade will continue to closely coordinate with the Ministry of Agriculture and Rural Development, the Ministry of Finance , and local authorities to develop flexible and practical policies.

Strengthen market controls and combat hoarding and speculation.

Minister Nguyen Hong Dien specifically noted the situation of speculation and hoarding aimed at driving up rice prices, causing market instability. He requested relevant agencies to strengthen inspection and supervision of the distribution system, strictly handle violations, and prevent price gouging that affects the rights of domestic consumers.

The Ministry of Industry and Trade also directed rice exporters to strictly comply with regulations on maintaining minimum circulating reserves, ensuring sufficient supply to meet domestic consumption needs even when the market fluctuates.

Ensuring the interests of farmers and improving the quality of exported rice. (Illustrative image)

Ensuring the interests of farmers and improving the quality of exported rice.

Minister Nguyen Hong Dien affirmed that, in addition to the goal of exporting, protecting the rights of farmers must be prioritized. He requested that localities and businesses purchase rice at reasonable prices, reflecting the true value of the product, and prevent price manipulation that affects farmers' income.

At the same time, to maintain the position of Vietnamese rice in the international market, the Minister emphasized improving rice quality, promoting sustainable production, applying modern processing and preservation technologies, and expanding export markets for high-value crops.

Coordinate effectively to ensure efficient management of the rice market.

The Ministry of Industry and Trade will continue to coordinate with relevant ministries and agencies to closely monitor developments in the domestic and international rice markets and adjust policies promptly. In particular, it is necessary to proactively work with major trading partners to expand export markets and ensure sustainable outlets for Vietnamese rice products.

Minister Nguyen Hong Dien's directives demonstrate the Ministry of Industry and Trade's determination to protect the interests of farmers, stabilize the domestic market, and maintain the brand of Vietnamese rice internationally.

See the announcement here.

Source: https://congthuong.vn/bo-truong-nguyen-hong-dien-bao-dam-nguon-cung-on-dinh-thi-truong-lua-gao-trong-nuoc-379150.html