Ministry of Industry and Trade issues urgent instructions regarding India's ban on rice exports

The Import-Export Department has just sent an urgent document to rice export traders and the Vietnam Food Association regarding India's ban on rice exports.

On July 20, the Directorate General of Foreign Trade of India issued a notice banning the export of all types of regular white rice (non-Basmati).

Before this information, on July 21, the Import-Export Department ( Ministry of Industry and Trade ) sent an urgent document to rice export traders.

In the document sent, the Import-Export Department said that India's policy of restricting rice exports will impact the global rice trade market. Therefore, to contribute to the consumption of rice and paddy products; stabilize domestic rice and paddy prices, and ensure food security, the Import-Export Department requested traders to strictly implement the provisions of Decree No. 107/2018/ND-CP dated August 15, 2018 of the Government on rice export business, purchase of rice and paddy products to ensure balance of export and domestic consumption; maintain the prescribed reserve level, contribute to stabilizing rice and paddy prices in the domestic market and ensuring food security.

The Department also recommends that traders proactively monitor the market situation closely, organize appropriate production and export plans, and ensure effective exports.

Traders are requested to seriously implement the periodic reporting regime on the amount of rice in stock, the status of signing and implementing rice export contracts according to the provisions of Decree No. 107/2018/ND-CP dated August 15, 2018, and send them to the Import-Export Department and the Vietnam Food Association.

The document of the Import-Export Department also requires traders to proactively discuss with the Vietnam Food Association, report to the Ministry of Industry and Trade, and the Ministry of Agriculture and Rural Development any difficulties and problems arising in the process of supplying and circulating rice in the domestic and international markets to have timely response solutions.

The Import-Export Department (Ministry of Industry and Trade) sent an urgent directive to the Vietnam Food Association and rice export traders.

At the same time, the Import-Export Department also sent an urgent document to the Vietnam Food Association, requesting the Association to step up urging its members, especially large enterprises, to organize the purchase and consumption of commercial rice and paddy, ensuring benefits for rice growers according to current policies.

The Department also requested the Association to request its members to strictly implement the regulations in Decree No. 107 of the Government on rice export business, regularly maintain the minimum circulating reserve level as prescribed, ensure the balance between export and domestic consumption, and contribute to stabilizing rice prices in the domestic market.

In addition, the Department requested the Association to continue to closely monitor the rice market situation; proactively exchange and synthesize members' opinions on difficulties and problems arising in the supply and circulation of rice in the domestic and international markets to report and propose appropriate solutions to relevant ministries and branches.

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