The Ministry of Agriculture and Rural Development (MARD) and the Ministry of Industry and Trade (MoIT) proposed establishing the National Rice Council to address rice-related issues and put forward major development orientations for the sector, at their working session in Hanoi on August 6.

The council will deal with problems arising in commercial activities of the rice industry.

As soon as the council is established, it will meet once a year, or at any time if there is an unexpected event to occur that need to be addressed. The council will support business associations to operate more effectively and resolve internal problems more quickly.

The council will be tasked with advising the Government to have strong and feasible policies aimed at promoting Vietnamese rice value and brand in the world market.

The MoIT said it has drafted a report on the establishment of the National Rice Council, and it will ask relevant ministries and agencies for opinions before submitting it to the Prime Minister for consideration and approval.

In the first seven months of 2024, Vietnamese enterprises shipped 5.18 million tons of rice with total revenue of $3.27 billion, up 5.8% in quantity and 25.1% in value, year-on-year.

The average rice export price was estimated at $632.2 per ton.

In 2023, Vietnam exported 8.1 million tons of rice, the highest volume recorded over the past 16 years.