Hanoi (VNS/VNA) - The Ministry of Industry and Trade has asked ricetraders to strictly maintain a reserve equivalent to at least five percent oftheir export volume in the six most recent months as well as enhancing effortsof price stabilisation in the domestic market amid ongoing globaluncertainties. 

The ministry’s Import-Export Department said that unpredictable developments inthe global economy coupled with the declines in import demand of Vietnam’s traditionalrice markets like China, Indonesia and Malaysia were posing significantchallenges to Vietnam’s rice exports.

Rice traders must strictly comply with Decree No 107/2018/ND-CP about ricereserves and price stabilisation, the ministry asked.

Accordingly, rice traders must consolidate their distribution system in thedomestic market and be ready to bring rice stocks into circulation to stabilisethe domestic market following the authorities’ orders.

Focus must also be placed on improving facilities and enhancing awareness inproduction and processing to increase rice’s added value and build a brand forVietnamese rice, the ministry asked, adding that fluctuations of paddy and riceprices must also be closely watched.

The ministry asked provincial departments of Agriculture and Rural Developmentto enhance cooperation with traders, co-operatives and farmers to ensure riceproduction to follow standards which would help Vietnam easily expand exports.

The ministry said that China’s Ministry of Agriculture and Rural Affairsannounced last week that this country could finish its goal of rice output thisyear. In addition, import demand from Indonesia and Malaysia was also low.

The Philippines also enhanced control over rice imports, with the revision ofthe food safety management system on imported rice.

Vietnam’s rice exports in the first two months of this year reached 890,000tonnes, worth 410 million USD, up by nearly 6 percent over the same period lastyear.

Seeking pork supply

The Import-Export Department also asked trade offices to work with pork exportassociations and companies in foreign countries to seek sources to import porkinto Vietnam.

Diversifying pork sources was important to stabilise the domestic market due tothe impacts of the recent African swine flu.

The Ministry of Agriculture and Rural Development predicted that meat outputwould reach around 5.5 million tonnes this year, in which pork would accountfor 64-67 percent.

Pig raising was recovering in recent months, the ministry said.

Prime Minister Nguyen Xuan Phuc last week asked ministries of agriculture andrural development, industry and trade, and finance to ensure pork supply anddemand balance and control prices at reasonable levels.

According to statistics from the Animal Health Department, Vietnam importedmore than 65,800 tonnes of meat as of the end of February, in which porkaccounted for 21 percent, up by 150 percent over the same period last year.Pork was mainly imported from Canada (33.6 percent), Germany (25.4 percent),Brazil (16.1 percent) and Poland (15.81 percent)./.