Ministry of Industry and Trade requires balancing rice export and domestic consumption

The Ministry of Industry and Trade requires units to regularly maintain the minimum circulating reserve level as prescribed in Decree 107, ensuring balance between export and domestic consumption, contributing to stabilizing rice prices.

Bo Cong Thuong yeu cau can doi xuat khau gao va tieu dung noi dia hinh anh 1 — The Ministry of Industry and Trade requires the Vietnam Food Association and businesses to regularly maintain the minimum circulating reserve level as prescribed in Decree No. 107/2018/ND-CP. (Photo: PV/Vietnam+)

In the context of the complicated rice export situation, some countries (India, UAE, Russia) banned rice export, the Ministry of Industry and Trade has just issued a document directing this work.

The document clearly stated that the global food trade situation is complicated and unpredictable due to the impact of many factors such as the ban on rice exports in some countries (India, UAE, Russia); the El Nino phenomenon negatively affects food and grain production in many regions; geopolitical developments are also complicated (Russia announced its withdrawal from the Black Sea Grain Agreement)...

To contribute to the consumption of rice and paddy products; ensure the balance of export and domestic consumption, contribute to stabilizing domestic rice and paddy prices; ensure the goal of national food security, the Ministry of Industry and Trade requests the Association and Rice Exporters to strictly implement the provisions of Decree No. 107/2018/ND-CP of the Government on rice export business; regularly maintain the minimum circulating reserve level as prescribed in Decree No. 107/2018/ND-CP, ensure the balance of export and domestic consumption, contribute to stabilizing rice and paddy prices in the domestic market.

The leaders of the Ministry of Industry and Trade also requested the Food Association and traders to report on the situation of rice and paddy inventory; the situation of signing and implementing rice export contracts according to the provisions of Decree No. 107/2018/NDCP mentioned above.

At the same time, businesses proactively monitor the global rice trade market situation; discuss with the Vietnam Food Association, promptly report to the Ministry of Industry and Trade and the Ministry of Agriculture and Rural Development on the situation related to rice export activities in the domestic and international markets; and propose appropriate solutions to relevant ministries and branches./.

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