The move is part of the Government’s efforts to create favorable conditions for rice traders, improve the competitiveness of Vietnamese rice traders and develop the rice industry sustainably, according to the ministry’s Import-Export Department.
The department recently reported the assessment of the rice industry after more than one year of implementing a new decree which took effect in October, 2018 on conditions for rice exports.
The decree reduced barriers for rice exporting businesses, including by removing requirements such as having rice warehouses and milling and processing establishments; and allowing traders to rent storage, grinding, milling and processing facilities.
Vietnam’s rice exporters have contributed to bringing Vietnam’s high quality rice to more than 150 countries and territories around the world, the department said.
In recent years, many rice importing countries have made profound changes in policies for rice products, focusing on consumers. In bidding for rice exports under the government-to-private sector (G2P), the Vietnamese Ministry of Industry and Trade has announced information about bidding to traders through mass media and the Vietnam Food Association.
All rice exporting businesses can participate in bidding, the department said.
In addition, the ministry is providing information of supply-demand in both domestic and global markets, facilitating the bidding decision-making process of traders, ensuring export efficiency and the prestige of Vietnamese rice exports.
For rice trading promotion, the ministry has advocated diversifying and innovating trade promotion activities, focusing on markets based on specific rice products, helping Vietnamese rice traders find and build relationships with reputable foreign partners, and ensuring stable and long-term business.
According to the department, restructuring rice production and other agricultural products needs to follow market signals. The strengthening of the value chain between production, consumption and export has also helped stabilize consumption, increasing farmers' income.
As a result, despite difficulties in Asia in 2019, Vietnamese rice has boosted exports to markets in Africa, Europe and the Americas.
However, Vietnam’s rice export value declined in 2019, with nearly 6.3 million tons worth US$2.76 billion being exported, up 3 percent in volume but down 10 percent in value compared to 2018. The main reason was the falling price in global markets.
The rice price in November fell 12.6 percent year-on-year, averaging $439.3 per ton.