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Sunday, October 17, 2021

Trade Ministry proposes normal rice exports from May 1

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HCMC – The Ministry of Industry and Trade has proposed the prime minister end the directive on rice export quota management that had earlier been issued to allow for normal rice exports from May 1.

The ministry asked the prime minister for approval to continue following regulations in the Government’s Decree 107 on the rice export business, according to a report sent to the prime minister.

To guarantee food security and ensure efficiency in monitoring rice exports, the ministry proposed continuing some control measures, including enhancing efforts to fight rice smuggling over land borders, the local media reported.

Besides this, rice traders and exporters should stock a rice volume matching at least 5% of their total rice exports from the preceding six months as a reserve for circulation and should commit to supplying the local market promptly when called on by the Government.

Apart from this, 20 of the country’s largest rice exporters should be asked to sign agreements with at least one supermarket chain to secure the rice supply.

The ministry also asked the prime minister to allow it to revoke the rice export licenses of exporters who fail to meet requirements.

The ministry noted in the report that this month to the 26th day, the country had exported over 185,830 tons of rice, accounting for 46.4% of the total 400,000-ton quota. The remaining 214,360 tons have also been registered for export, according to data from the General Department of Vietnam Customs.

Statistics from the Ministry of Finance indicated that the volume of rice transported to ports before March 24 that has yet to be registered for export amounted to 17,380 tons, while the rice backlog at ports from March 24 to April 21 was 55,446 tons.

According to the Ministry of Industry and Trade’s calculations, rice available for export from early May to mid-June may amount to 1.3 million tons.

Over the past five years, based on the customs clearance capacity at international border gates and ports, the country has never exported 700,000 tons of rice per month, the ministry said in its report.

If 700,000 tons of rice is exported in May, then the country will still maintain its rice inventory at 600,000 tons for the first half of June before the summer-autumn rice crop harvest, the ministry stated, adding that the country’s food security can be guaranteed regardless of the development of the coronavirus pandemic.

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