Business

Policy changes needed to boost rice sector’s growth

Despite rapid growth for years, the rice sector of Vietnam is hamstrung by policies that reduce its competitiveness. Amidst this situation, strong actions are needed to broaden markets and increase rice exports.
Policy changes needed to boost rice sector’s growth ảnh 1Loading rice for export at Sai Gon port (Photo: VNA)
Hanoi (VNA) – Despiterapid growth for years, the rice sector of Vietnam is hamstrung by policiesthat reduce its competitiveness. Amidst this situation, strong actions areneeded to broaden markets and increase rice exports.

Analysing global market forecasts,Sergio Araujo from the Trade and Market Division of the UN Food and AgricultureOrganisation (FAO) noted that global rice production mostly depended on higherproductivity in Asia and Africa, which produced nearly 500 million tonnes inthe 2015-2016 crops

Calculations showed that theworld needs more than 50 million tonnes of additional rice. It is forecast thatinventories in the future will be lower than production and demand, he said ata conference in Hanoi on May 24.

He said that global rice trade willrecover in 2025, but instability in policies and currency is likely to continue,adding that all predictions pointed to a slight fall in global rice inventoryand declining rice prices. Currently, large rice producers face the problems ofsalinity and climate change.

Experts also asserted that inVietnam, small-scale production has led using many rice varieties leads to differencesin quality and difficulties in tracking origin.

Mechanisation levels in harvestingremain low, reducing rice export quality and raising post-harvest losses and productioncosts, they said, adding that current unsuitable processing procedures alsoaffect quality.

Commenting on the prospects forVietnam’s rice sector in 2017, Pham Thi Kim Dung from the Institute of Policiesand Strategy for Agriculture and Rural Development said the average rice pricein 2017 may drop 2.7 percent over 2016 before increasing 6 percent in 2018.

Dung said that Vietnam’s ricesector should focus on systemising, especially in trade intermediate andprocessing processes. Besides boosting exports, should also pay more attentionto domestic market.

Along with keeping a close eye onthe Chinese market, it is necessary to maintain traditional markets and developnew ones, she added.

Experts at the event also agreedthat in the future, the local rice sector will encounter great challenges,requiring it to continue overcoming its weaknesses and design measures to respondto changes in the world rice market, while raising export revenue with highquality rice varieties and promoting trademark building.-VNA 
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