HANOI (Bloomberg): Vietnam Prime Minister Pham Minh Chinh has ordered the government to ensure national food security under all circumstances, while boosting sustainable rice production and exports amid threats to global supply.
Chinh directed the agriculture and environment ministries to develop major planting areas and achieve the goal of producing more than 43 million tons of the grain "in years to come,” according to an Aug. 5 directive that was posted on the government’s website on Sunday.
The premier instructed ministries and local governments to balance grain supplies for local use and exports to ensure food security, while lifting technical barriers to expand overseas sales.
Vietnam on Tuesday said this year’s paddy production is likely to exceed 43 million tons, with exports of rice expected to reach 7.8 million tons, up from over 7.1 million tons in 2022.
The prime minister’s directive came after top shipper India banned some shipments of the grain and Thailand urged farmers to reduce rice planting to save water after poor rainfalls. New Delhi’s move raised concerns about the supply of food staples for billions of people globally and sent Asian benchmark rice prices to a three-year high.
Chinh said that Vietnamese traders in some areas had made massive purchases of paddies and rice, triggering a localized imbalance in supply and demand and pushing local grain prices to an unreasonable level. - Bloomberg
