With the Philippines hitting pause on imports of Vietnamese rice for 60 days from September 1, the Ministry of Industry and Trade (MoIT) has moved swiftly, issuing instructions to provincial and municipal People’s Committees, the Việt Nam Food Association (VFA), and rice export traders.

The ministry clarified that the suspension applies to regular milled and well-milled rice but not to specialty varieties that are not widely cultivated by Vietnamese farmers.

MoIT requested that People’s Committees review and promptly gather feedback from businesses on any difficulties or obstacles, then report and propose appropriate solutions.

The VFA has been tasked with quickly notifying rice export traders so they can adjust production and business plans.

In addition, the VFA is expected to strengthen information updates, market monitoring and forecasting of domestic and global rice trends to keep the Government, ministries and relevant authorities informed, while also proposing measures to boost domestic rice consumption and exports.

Additionally, VFA needs to collaborate closely with the Philippine rice importers association to actively monitor and capture market information and policy changes from the Philippines in order to promptly report and propose appropriate solutions.

VFA should support member businesses in diversifying export markets, strengthening trade promotion especially with traditional trading partners.

The MoIT also recommended that rice export traders, in addition to maintaining traditional markets, proactively seek and exploit new potential markets to diversify risks and improve adaptability.

In particular, they should actively purchase rice for temporary storage to support farmers and strictly comply with the provisions of Decree No 107/2018/NĐ-CP of the Government regarding rice export business and other related regulations.

Statistics show that Việt Nam’s rice exports reached approximately 9 million tonnes last year with a value of US$5.7 billion. This is an important achievement that reinforces Việt Nam’s position in the global rice market.

In recent consultations many international partners including the US, Singapore and Brazil have highly appreciated Việt Nam's role in the global rice supply chain.

Thus, the country is fully capable of maintaining and enhancing the value of its rice exports, especially as the demand for high-quality rice continues to rise.

It is essential to tighten cultivation processes to ensure safety and quality so that Vietnamese rice maintains its reputation and competitiveness in international markets.

Rice exports reached 6.3 million tonnes and $3.17 billion in the first eight months of this year, an increase of 2.2 per cent in volume but a decrease of 17.5 per cent in value compared to the same period last year.

The average export price of rice in the eight months is estimated at $504.9 per tonne, down 19.3 per cent year-on-year, according to the MoIT. — VNS

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