Philippines temporarily suspends rice imports: Ministry of Industry and Trade recommends businesses proactively adapt

(Chinhphu.vn) - The Ministry of Industry and Trade recommends that rice export traders, in addition to maintaining traditional markets, proactively seek and exploit new potential markets to disperse risks and increase adaptability.

The Ministry of Industry and Trade recommends that rice export traders actively purchase and temporarily store rice for farmers - Illustrative photo

In response to the Philippines' suspension of Vietnamese rice imports for 60 days starting September 1, the Ministry of Industry and Trade has just sent a document to the People's Committees of provinces and cities, the Vietnam Food Association (VFA), and rice export traders.

The rice products that the Philippines has temporarily suspended imports of are regular milled rice and highly milled rice (excluding specialty rice varieties that are not commonly produced by local farmers). Therefore, to ensure that rice exports in 2025 contribute to the achievement of the annual export target, the Ministry of Industry and Trade requests that the People's Committees of provinces and cities promptly inform rice export traders in the area to grasp the information.

In addition, review and promptly synthesize information and opinions of the business community on difficulties and problems arising to report and have appropriate solutions. VFA needs to promptly inform rice export traders to adjust production and business activities accordingly.

Along with that, strengthen information updating, monitoring and forecasting, providing information on the production situation and domestic and world rice market to report and propose to the Government, relevant ministries and branches solutions to promote domestic rice consumption and export.

Closely coordinate with the Philippine Rice Importers Association to actively monitor and grasp market information and policy changes of the host country to promptly report and propose appropriate solutions. Support member businesses to diversify export markets, enhance trade promotion, especially with traditional partners.

The Ministry of Industry and Trade also recommends that rice export traders, in addition to maintaining traditional markets, proactively seek and exploit new potential markets to disperse risks; actively purchase and temporarily store rice for farmers, strictly implement the provisions of Decree 107/2018 of the Government and regulations related to rice export business.

Anh Tho

Source: https://baochinhphu.vn/philippines-tam-ngung-nhap-khau-gao-bo-cong-thuong-khuyen-nghi-doanh-nghiep-chu-dong-thich-ung-102250905133514333.htm