The measures include adopting the dry direct seeding method for paddies, increasing the national rice buffer stock, conducting cloud seeding operations, and providing financial aid to affected farmers.
The potential for agro-trade is significant though current agricultural trade stands at under 50 million USD, accounting for a small share of the total bilateral trade of more than 500 million USD, says Deputy Minister of Agriculture and Environment Tran Thanh Nam.
The Malaysian Ministry of Agriculture and Food Security (KPKM) has set two major priorities for this year - reforming the national rice and paddy industry, and increasing productivity in the ruminant sector, particularly beef and buffalo meat production.
Vietnam views the Philippines as one of its most important rice importers, Vietnamese Minister of Industry and Trade Nguyen Hong Dien has told visiting Secretary of the Philippine Department of Agriculture Francisco Tiu Laurel Jr..
Philippine President Ferdinand Marcos Jr. on October 4 lifted the implementation of the price caps on rice after almost a month since the government imposed the policy to support poor households.
Vietnamese rice exporters should make careful preparations to promote rice exports and maintain the markets, especially traditional ones, while ensuring the supply for domestic consumption, according to insiders.
Higher rice supply in the domestic market has made the export price of Vietnam’s broken rice drop to 450 USD per tonne on June 19, the lowest level in the past two months.
More than 797 tonnes of rice from the national reserves have been granted to poor households in the central province of Ninh Thuan from January 24-26 ahead of the (Tet) Lunar New Year holiday.
Many rice export contracts continuing from 2017 and Indonesia’s import order at the year’s beginning amid limited rice supply are positive signs for Vietnam’s rice exports.
Vietnam exported more than 4.5 million tonnes of rice in the first nine months of this year for 2 billion USD, but its dependance on the Chinese market brings latent risks.
