Vietnam temporarily halts rice exports from Mach 24 on pandemic fears

At the meeting Prime Minister Phuc emphasized that food security is very important for all countries, especially in the event of disease outbreaks in the world, NDH news website cited customs announcement.

The Vietnamese premier approved the proposal of the Ministry of Industry and Trade to suspend rice export until the end of May to ensure the objectives and principles of management, contributing to stabled rice price in domestic market during Monday meeting.

The Ministry of Industry and Trade was assigned to urgently develop and issue regulations detailing the suspension of rice export while the Ministry of Finance will instruct the General Department of State Reserve to urgently buy sufficient food reserves as planned.

The General Department of Customs halts receiving declaration from March 24. The Ministry of Agriculture and Rural Development continues to closely monitor changes in weather, natural disasters ... to focus on directing production, Premier Phuc instructed.

Vietnam's rice exports reached nearly 929,000 tons in the first two months of this year, bringing in more than $430 million. Compared to the same period last year, rice exports increased by 30.5% in volume and 38.2% in value, according to the General Department of Customs.

Philippines is the largest export market of Vietnamese rice in the first two months, with an import volume of over 357,000 tons of rice, accounting for 38% of the country's total export.

Several other markets recorded 3-digit export growth. China alone increased 594.5% in volume and 723.6% in value. Some markets also boosted Vietnam's rice imports such as France (up 554.1% in volume and 723.6% in value), Taiwan (China) (up 214% in volume and 257.5% in volume). in value), Russia (up 218.2% in volume and 156.4% in value) ...

In February, Vietnam's rice export price peaked for more than a year due to strong demand from the Philippines and Malaysia.

Source: NDH