Business

Ministry works to ensure rice export

The Ministry of Industry and Trade (MoIT) is close monitoring rice production and the world rice market with a view to promptly tackling arising problems and facilitating rice production, business and export.
Ministry works to ensure rice export ảnh 1Illustrative image (Source: VNA)
Hanoi (VNA) – The Ministry of Industry and Trade(MoIT) is close monitoring rice production and the world rice market with a view to promptly tackling arising problems and facilitating rice production, business and export.

Statistics showed that as of the end of October, Vietnamexported 7.1 million tonnes of rice for about 3.97 billion USD, a rise of 17%in volume and 34.9% in value over 2022. Vietnamese export rice price increased15.3% year on year.

In the first nine months of 2023, Asia was the largestmarket of Vietnam, consuming 76% of the country’s total rice export volume. Itwas followed by Australia with 2.41%, Europe 1.6% and America 1.5%.

Ministry works to ensure rice export ảnh 2As of the end of October, Vietnam exported 7.1 million tonnes of rice for about 3.97 billion USD, a rise of 17% in volume and 34.9% in value over 2022. (Photo: VNA)
Particularly, the Philippines continued to be the biggestimporter of Vietnam's rice with nearly 2.5 million tonnes, accounting for38.1% of Vietnam's total rice export volume.

According to the MoIT, Vietnam has been keeping to the right direction on rice export structure and quality as outlined by the rice export marketdevelopment strategy until 2030, with white rice accounting for the largest share (55.5% or 3.56 million tonnes), followed by fragrant rice (24% or 1.5 million tonnes) and sticky rice (8.5% or 545,000 tonnes).

In the face of complicated developments in global foodtrade, including India's ban on export of non-basmati white rice, Russia'swithdrawal from the Black Sea Grain Initiative, climate change and El Ninophenomenon, the MoIT has coordinated with the Ministry of Agriculture andRural Development and the People’s Committees of rice production localities,the Vietnam Food Association as well as rice traders to roll out variousmeasures to regulate rice production and export activities in 2023, whileensuring the stability of the domestic rice market.

At the same time, the MoIT has regularly inspected rice business and exporting activities of traders. It has revokedthe rice export certificate from 28 traders who did not export rice for 18consecutive months after receiving the certificate, contributing to creating abusiness environment that is more open, transparent, and fairer in line withthe law./.
VNA
#Ministry of Industry and Trade (MoIT) #Vietnamese export rice price #Black Sea Grain Initiative #Vietnam Food Association #Vietnam #Vietnam News Agency
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