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The Import-Export Department under the Ministry of Industry and Trade has sent an official letter to issue the requirement, and the department considered that India’s ban on rice exports is likely to affect the global rice market.
Particularly, the Import-Export Department proposed the Vietnam Food Association to urge its members, especially big enterprises playing leading roles comprising Vietnam Northern Food Corporation, Vietnam Southern Food Corporation and so on to purchase and consume rice, rice products, ensure benefits of farmers in accordance with the current policies.
Besides, the association members are proposed to strictly implement the regulations of the Government on rice export activities and regularly maintain the minimum circulation reserve to ensure the balance between export and domestic consumption. This aims to contribute to stabilizing rice prices in the domestic market.
As for businesses, the Import-Export Department proposed relevant ones to closely monitor the market situation, implement appropriate production and export plans ensuring effectiveness; strictly implement the periodic report on the volume of rice, unsold rice as well as on signing and implementing rice export contracts.
According to experts, India’s ban on rice exports is expected to raise fear of global food price rises.
