AsemconnectVietnam - According to the latest statistics figures from the Ministry of Agriculture and Rural Development, in the first eight months of 2023, rice exports reached 3.17 billion USD, up by 36.1% over the same period last year.

There was a very strong increase in the export turnover of the group of agricultural, forestry and fishery products. Rice and vegetables were also two of the agricultural products with high export turnover in recent years.
Notably, a series of information on the rice export market is continuing to have a strong impact on the export price of rice. Specifically, recently, the Government of India announced that it will apply an export tax of 20% for parboiled rice. The notice was issued by the Ministry of Finance on August 25, effective immediately and will be applied until October 16 of this year.
At the same time, India has also applied an export floor price for basmati rice at 1,200 USD/tonne. Previously, the country had banned the exports of non-basmati white rice since July. India and Pakistan are the world's two largest basmati rice export markets. Every year, India supplies about 4 million tonnes to countries such as Iran, Iraq, the US, and Saudi Arabia. The new moves by India may push world rice prices higher.
Not only India, Myanmar is also planning to temporarily limit rice exports to meet domestic consumption. According to the data from the United States Department of Agriculture (USDA), Myanmar is the fifth largest rice exporter in the world, selling more than 2 million tonnes of rice per year.
According to the Ministry of Agriculture and Rural Development, the amount of rice used to ensure food security of 100 million people and other domestic consumption needs (for processing, animal feed, stockpiling in the population, storing food, etc.) is about 29.5 million tonnes of paddy/year. Therefore, in 2023, Vietnam has about 13.5 million tonnes of paddy (equivalent to 7-8 million tonnes of rice) for export.
Engaged in State management of rice export, over the past time, the Ministry of Industry and Trade has continuously made recommendations on the fact that besides promoting rice exports, localities and businesses need to pay attention to the storage of rice to avoid an abnormal increase in prices, affecting people's lives, especially during the holidays and New Year's end of the year. On August 15, 2023, the Minister of Industry and Trade issued Directive No. 07/CT-BCT on strengthening market information, trade promotion, rice export market development and market stabilization in the country in the current period.
In the coming time, the Ministry of Industry and Trade will coordinate with the Ministry of Agriculture and Rural Development to closely monitor and promptly report to the Price Management Steering Committee and the Domestic Market Management Team on the situation of production and supply. Agricultural products are in the harvest season, prices fluctuate, especially those that are heavily affected by the world market such as rice.
CK
Source: VITIC/congthuong.vn