Promoting the global rice market network.

On the afternoon of March 6th, the SS Rice News Convention 2024 took place in Da Nang city. This important event, held for the first time in Vietnam over two days (March 6th - 7th, 2024), aimed to promote the global rice market network.

The event attracted the participation of more than 400 importers, exporters, and providers of ancillary services in the rice industry, along with leading experts and researchers from 30 countries around the world .

The SS Rice News Convention 2024, a global rice conference, will be held in Vietnam for the first time.

Rice production and exports set records.

Speaking at the conference, Mr. Nguyen Anh Son, Director of the Import-Export Department ( Ministry of Industry and Trade ), stated that the current global rice trade situation is being affected by many factors that have impacted the rice production and export of many countries.

Vietnam is one of the three largest rice exporting countries in the world, accounting for approximately 15% of total global rice exports. Therefore, any changes in policies, fluctuations in supply and demand, and price trends in rice-consuming countries worldwide directly affect the Vietnamese rice industry.

“Over the past period, with timely support policies from the Government, the Prime Minister, and ministries and agencies, along with solutions to open up markets and facilitate the circulation of goods, the promotion of rice production and export has achieved some positive results, contributing to the consumption of paddy and rice at favorable prices for farmers. Vietnamese state management agencies have also been actively implementing solutions to develop agricultural production, seek markets, support and propose solutions regarding capital, investment in science and technology, and infrastructure to improve productivity, output, and quality of rice for domestic consumption and export, ” Mr. Son informed.

Mr. Nguyen Anh Son - Director of the Import-Export Department

According to Nguyen Anh Son, Director of the Import-Export Department, to ensure the objectives and effectiveness in the management and operation of rice exports, the Ministry of Industry and Trade is currently the lead agency, coordinating with relevant ministries, agencies, localities, and the Vietnam Food Association (VFA) to carry out the tasks assigned in Decree No. 107/2018/ND-CP dated August 15, 2018, on the business of rice exports.

In this process, the Ministry of Industry and Trade is the lead agency responsible for reviewing, evaluating, and issuing certificates of eligibility for rice export business to Vietnamese traders, aiming to ensure fair and efficient rice export activities, promote sustainable development, and improve the quality, value, and position of the industry.

To implement the Prime Minister's directives, in 2023, the Ministry of Industry and Trade issued Directive No. 07/CT-BCT dated August 15, 2023, on strengthening market information, trade promotion, developing rice export markets, and stabilizing the domestic market in the current period. In 2024, to implement Directive No. 10/CT-BCT dated March 2, 2024, the Ministry of Industry and Trade is developing and will soon issue a Directive to implement the assigned tasks, serving the management of rice exports.

“ Thanks to this, Vietnam’s rice industry has made remarkable progress and undergone a strong transformation in both production and export. The growth in output, improved product quality, and enhanced production processes have helped expand markets and elevate the position of Vietnamese rice in over 180 countries and territories. Demanding markets such as Europe, the United States, South Korea, Australia, and some emerging markets in the Middle East are also increasingly favoring high-quality Vietnamese rice, ” Mr. Son said, adding that in 2023, thanks to effectively utilizing signed FTAs ​​and timely support from the Government and relevant ministries, rice production and exports set a record in terms of output and productivity, reaching an export value of US$4.78 billion for the whole year, a 36.6% increase compared to the previous year – the highest export level in many years for Vietnam’s rice industry.

In 2024, despite many experts predicting continued global challenges, rice exports showed optimistic signs from the very first months of the year. Rice export revenue in January reached US$362 million, a 7% increase compared to the same period last year. Furthermore, many forecasts suggest that rice prices will continue to rise in 2024 due to tight supply. The rice market is expected to remain tight in the early part of the year due to ongoing export restrictions imposed by India.

The onset of El Nino and its potential impact on major rice-growing regions has heightened concerns about supply. Thus, opportunities are immense for the Vietnamese industry and businesses, but opportunities always come with challenges.

Delegates attending the conference.

Finding solutions for developing the rice market in 2024

According to Nguyen Anh Son, Director of the Import-Export Department, the Ministry of Industry and Trade always prioritizes market information, policy updates, forecasts, and orientations to support rice export management; along with trade promotion activities, business networking, and boosting exports of this commodity.

Annually, the Ministry of Industry and Trade regularly presides over and coordinates with the Ministry of Agriculture and Rural Development, state management agencies in localities with rice export businesses, the Vietnam Food Association (VFA), and other businesses to organize meetings and conferences to jointly agree on and decisively implement a group of solutions to ensure domestic food supply, stabilize prices, and facilitate and mitigate risks for rice export business activities in each period of the year.

Delegates visited the exhibition area showcasing products and services related to the rice trade chain from rice-producing countries.

“Today’s conference is very practical and necessary, demonstrating the proactive approach of the rice business community in researching, closely monitoring the market, and organizing efficient and sustainable business operations. This is not only a place for us to access information, but also an opportunity for us to discuss and make practical proposals and recommendations based on the export promotion needs of businesses; from there, we can develop specific solutions and plans to support the development of the rice market in 2024 ,” Mr. Son observed.

At the conference, delegates focused on analyzing and discussing market trends, updating on India's rice export policies in the context of the country's export restrictions, and exploring alternative global rice sources, particularly from Southeast Asia. In addition, issues related to the shipping market, the impact of weather and politics on the rice industry were also discussed in depth.

Delegates discussed market trends and received updates on rice export policies...

The delegates also shared useful information and proposed practical solutions in market development, aiming to support rice businesses in diversifying export markets and building and enhancing the brand image of the Vietnamese rice industry.

Source: https://congthuong.vn/thuc-day-mang-luoi-thi-truong-gao-toan-cau-307150.html