Deputy Minister of Industry and Trade Tran Quoc Khanh After the General Department of Vietnam Customs requested a temporary halt of rice exports, the Ministry of Industry and Trade immediately submitted a reverse proposal. How do you explain this? In the beginning months of the year, the spread of the Covid-19 pandemic had serious repercussions for Vietnam and other countries around the world. The demand for a number of essential commodities, including rice, was growing very fast and there was a need to increase reserves in order to ensure food supplies. The price of rice across the global market has fluctuated sharply. In the first two months of the year, Vietnam’s rice exports reached 930,000 tonnes, an increase of 32 percent compared to a year ago. Some markets even recorded strong rice export growth. Domestic rice prices also increased by 20-25 percent compared to a year ago, depending on rice varieties. There was concern that if the country continued to export rice as it did in the first two months of the year, Vietnam could risk shortages for domestic consumption. Therefore, the Ministry of Industry and Trade submitted to the prime minister a number of proposals, including temporarily delaying the… Read full this story
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