The Ministry of Industry and Trade (MoIT) has put forward a plan to the Prime Minister which would regulate monthly rice exports and cap them at 400,000 tonnes amid the increasingly complicated nature of the novel coronavirus (COVID-19) epidemic.
The MoIT has also also suggested that rice should only be exported through international border gates that have been equipped with internet devices which would allow the General Department of Vietnam Customs to strictly monitor them.
Border guards have been directed to intensify their inspection and supervision of future exports in an attempt to prevent rice smuggling taking place through border gates.
In an effort to ensure domestic circulation, 20 of the nation’s largest rice exporters have been requested to sign agreements with at least one supermarket chain that will see them ensure reserves.
With regard to consumption and storage needs, the Ministry of Agriculture and Rural Development have forecast that the year’s domestic demand, including reserves, will hit 29.96 million tonnes of paddy. The remaining paddy for export stands at approximately 13.5 million tones, equivalent to between 6.5 million and 6.7 million tonnes of rice.
According to a report released by the Vietnam Food Association, the total number of signed contracts that have yet to be delivered had reached roughly 1.6 million tonnes of rice by March 27.