The Directive on strengthening market information, trade promotion, developing rice export market and stabilizing the domestic market in the current period

On 15/8/2023, the Ministry of Industry and Trade issued the Directive No. 07/CT-BCT on strengthening market information, trade promotion, developing rice export market and stabilizing the domestic market in current period.

According to the Directive, the Ministry of Industry and Trade requests the Departments of Industry and Trade of the provinces/centrally-run cities to focus on implementing the following specific tasks and solutions:

- To coordinate with the local Department of Agriculture and Rural Development to review the situation of local paddy and rice production and inform the Ministry of Industry and Trade about the output, types of backlogged paddy and rice and expected yield and productivity harvested in the area.

- To urge enterprises participating in the Market Stabilization Program in the locality to make a plan on the sources of paddy and rice to ensure supply for the market from now until the end of the year; strictly handle cases of speculation, illegal profiteering, unreasonably high prices of paddy and rice, causing instability in the domestic market.

- To direct rice export traders in the area to maintain the amount of paddy and rice in reserve to stabilize the market according to regulations to be ready to supply to the market when it is necessary.

- To actively coordinate with units under the Ministry of Industry and Trade to inform local arising situations and propose relevant solutions to promote rice production and export and ensure food security.

- To continue to perform relevant tasks as prescribed in the Decree No. 107/2018/ND-CP and the Directive No. 24/CT-TTg on strengthening inspection and supervision of production, circulation and consumption of paddy and rice in the area and the maintenance of the minimum circulating reserve level of rice export traders in accordance with regulations; strictly handle cases of speculation, illegal profiteering, pushing rice prices up unreasonably, causing instability in the domestic market, affecting the reputation of Vietnamese rice in the international market.

In addition, the Ministry of Industry and Trade also assigns specific tasks to the General Department of Market Management, the Import-Export Department, the Trade Remedies Authority, the Multilateral Trade Policy Department, the Legal Department, and the Asian - Africa Market Department, the European - American Market Department, the Domestic Markets Department, Vietnam Food Association, rice export traders and relevant units under the Ministry.