The Ministry of Finance suggests suspending exports of low-grade rice until June 15 (Source: VNA)
The Ministry of Finance (MoF) has suggested suspending exports of low-grade rice until June 15 to ensure purchase for the national reserves.
In a document sent to the Ministry of Industry and Trade (MoIT) regarding rice export management plans, the MoF suggested maintaining exports of sticky rice, parboiled rice, organic rice and fragrant rice.
Explaining the proposed suspension of low-grade rice, the MoF said that the Prime Minister had instructed the purchase of 190,000 tonnes of low-grade rice and 90,000 tonnes of paddy rice for the national reserve in 2020. However, as export demand increased recently, many businesses delayed negotiations for or signing of contracts on supplying rice to the national reserves, despite the fact that they have won bids to supply rice. This means that the above-mentioned target is difficult to be achieved.
Therefore, the Ministry of Finance requests that the Ministry of Industry and Trade ask the Government to suspend low-grade rice export until June 15 to facilitate the purchase of rice for the national reserves. After the purchase is completed, the export of low-grade rice can be resumed.
The Ministry of Finance also assigned the General Department of Customs to closely supervise the export of sticky rice, parboiled rice, organic rice and fragrant rice, and at the same time monitor the suspension of low-grade rice export until June 15.
Regarding support measures, the MoF asked the MoIT to urge the Prime Minister to assign the Ministry of Agriculture and Rural Development (MARD) to direct Vinafood 1 and its member companies to prioritise signing contracts on supplying rice for the national reserves.VNA