High rice prices: If you don't take advantage, you'll miss the opportunity

SGGPO 08/01/2023 19:13

Sharing information at the press conference, Director of the Department of Crop Production Nguyen Nhu Cuong said: "This is an opportunity for us to export rice. If we don't take advantage of it, we will miss the opportunity."

Rice in the Mekong Delta is gaining value thanks to high export prices. Photo: HUYNH XAY

At a press conference held in Hanoi on the afternoon of August 1, by the Ministry of Agriculture and Rural Development, Mr. Nguyen Van Viet, Director of the Planning Department, said that in recent days, rice prices have increased very high. The price of IR50404 rice increased to 6,500 VND/kg, OM 5451 rice increased to 6,800 VND/kg, and Dai Thom rice increased to 6,950 VND/kg.

This regular press conference was chaired by Deputy Minister of Agriculture and Rural Development Phung Duc Tien.

Vietnam's rice exports in the first 7 months of 2023 reached 4.84 million tons, worth 2.58 billion USD, up 29.6%.

Responding to the press about the production situation and seizing the opportunity to boost rice exports in the context of continuously increasing world rice prices, Mr. Nguyen Nhu Cuong, Director of the Department of Crop Production, said that taking advantage of the opportunity of increasing rice prices, the Department of Crop Production has arranged to increase the production area of the autumn-winter crop in the Mekong Delta from 650,000 hectares to 700,000 hectares.

"This is an opportunity for us to export rice. If we do not seize the opportunity, we will miss it," said Mr. Cuong, adding that on July 31, the Ministry of Agriculture and Rural Development submitted to the Prime Minister a Directive on increasing rice exports in the current context. After the directive is issued, ministries, branches and localities will focus on technical and administrative solutions to remove difficulties for businesses and farmers to increase rice exports.

According to the Director of the Department of Crop Production, the 2023 planting plan is 7.1 million hectares, with an expected output of over 43 million tons. The Ministry of Agriculture and Rural Development has inspected the rice production situation in the Red River Delta, North Central Coast and Mekong Delta, and up to this point it can be confirmed that the growth and development of rice is very good. The target of over 43 million tons can be achieved.

Vietnam is expected to export about 7.8 million tons of rice this year. “Boosting exports at this time will not affect food security,” Mr. Cuong affirmed.

Besides the advantages, we also have to face El Nino, which will start to have a strong impact from around October, especially from the winter-spring crop of 2023-2024, which will have a strong impact on rice production in the Mekong Delta, but according to the assessment, the intensity of the impact in Vietnam is not equal to other countries.

Source: https://www.sggp.org.vn/gia-gao-tang-cao-khong-tranh-thu-se-lo-co-hoi-post699867.html