Vietnam enhances rice, pork price stabilisation

The Ministry of Industry and Trade has asked rice traders to strictly maintain a reserve equivalent to at least five percent of their export volume in the six most recent months.

Vietnam enhances rice, pork price stabilisation

The ministry’s Import-Export Department said that unpredictable developments in the global economy coupled with the declines in import demand of Viet Nam’s traditional rice markets like China, Indonesia and Malaysia were posing significant challenges to Viet Nam’s rice exports.

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

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

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

The ministry asked provincial departments of Agriculture and Rural Development to enhance cooperation with traders, co-operatives and farmers to ensure rice production to follow standards which would help Viet Nam easily expand exports.

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

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

Viet Nam’s rice exports in the first two months of this year reached 890,000 tonnes, worth US$410 million, up by nearly 6 per cent over the same period last year.

 

Seeking pork supply

The Import-Export Department also asked trade offices to work with pork export associations and companies in foreign countries to seek sources to import pork into Viet Nam.

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

The Ministry of Agriculture and Rural Development predicted that meat output would reach around 5.5 million tonnes this year, in which pork would account for 64-67 per cent.

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

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

According to statistics from the Animal Health Department, Viet Nam imported more than 65,800 tonnes of meat as of the end of February, in which pork accounted for 21 per cent, up by 150 per cent over the same period last year. Pork was mainly imported from Canada (33.6 per cent), Germany (25.4 per cent), Brazil (16.1 per cent) and Poland (15.81 per cent). – VNS

Vietnam overtakes Thailand in rice exports

Vietnam overtakes Thailand in rice exports

TREA, the association of Thai rice exporters, on February 12 said Thailand may lose its position as the second largest rice exporter when setting up the goal of exporting 7.5 million tons this year, a 7-year low.

Vietnam imports 66,000 tonnes of meat in two months

Vietnam imports 66,000 tonnes of meat in two months

Vietnam imported nearly 66,000 tonnes of meat in the first two months of this year, according to the Ministry of Agriculture and Rural Development.  

 
 

Other News

.
Several listed foreign firms report lower profits and losses in 2020
Several listed foreign firms report lower profits and losses in 2020
BUSINESSicon  16/11/2021 

The majority of foreign-invested enterprises listed on Vietnam's stock market either posted lower after-tax profits or losses in 2020 due to the impact of the COVID-19.

Vietnam Airlines’s additional shares to be officially traded from Nov. 19
Vietnam Airlines’s additional shares to be officially traded from Nov. 19
BUSINESSicon  15/11/2021 

The Ho Chi Minh Stock Exchange (HoSE) has announced the additional listing of nearly 800 million shares of Vietnam Airlines Corporation, coded HVN, from November 15.

E-commerce promotes Vietnam's digital economy
E-commerce promotes Vietnam's digital economy
BUSINESSicon  16/11/2021 

While tourism has been hit hard by Covid-19, e-commerce has become the driving force for the digital economy in Vietnam this year.

HCM City distribution chains ensure food supply
HCM City distribution chains ensure food supply
BUSINESSicon  16/11/2021 

Nearly 1,600 workers at a supermarket chain tested positive for coronavirus when the fourth Covid wave in HCM City reached its peak over the summer. One of them died.

Farm exports to EU must follow food hygiene requirements: experts
Farm exports to EU must follow food hygiene requirements: experts
BUSINESSicon  16/11/2021 

After one year of EVFTA (EU-Vietnam Free Trade Agreement) implementation, Vietnam’s farm exports to the EU have increased sharply.

Four ‘economic commanders’ at NA forum share their vision about stimulus package
Four ‘economic commanders’ at NA forum share their vision about stimulus package
FEATUREicon  15/11/2021 

All four ministers of economy-related fields were asked to answer inquiries at the last National Assembly session, a rare occurrence in Vietnam.

Railway goods transport between Vietnam, China surges
Railway goods transport between Vietnam, China surges
BUSINESSicon  15/11/2021 

The total volume of goods traded between Vietnam and China going through the two border-gate railway stations of Lao Cai and Dong Dang reached more than 838,000 tonnes in the first nine months of 2021, up 43 percent year-on-year.

2021's profit outlook mostly reflected in stock prices: FiinGroup
2021's profit outlook mostly reflected in stock prices: FiinGroup
BUSINESSicon  15/11/2021 

The Vietnamese stock market’s valuation is equivalent to 18.2 times 2021’s profit and 14.3 times 2022’s profit forecast, said Fiin Trade, showing that the profit prospects for 2021 are reflected in share prices.

VN's growth and recovery require strong public investment: economists
VN's growth and recovery require strong public investment: economists
BUSINESSicon  15/11/2021 

Financing public investment to generate future growth and to speed up economic recovery post-COVID-19 remained Vietnam's most important challenge in the near future, said economists and policymakers. 

VIETNAM BUSINESS NEWS NOVEMBER 15
VIETNAM BUSINESS NEWS NOVEMBER 15
BUSINESSicon  15/11/2021 

More effective use of trade remedy tools needed when joining FTA: experts

Nursing home market nascent in Vietnam: Savills
Nursing home market nascent in Vietnam: Savills
BUSINESSicon  15/11/2021 

Demand for “housing with care” – a range of residential formats (which often provide care services) for older people – is increasing, but the market remains almost untouched in Vietnam, according to property consultancy Savills Vietnam.

Online shopping in VN to soar by year-end
Online shopping in VN to soar by year-end
BUSINESSicon  15/11/2021 

 Online shopping in Vietnam is expected to increase sharply near the end of the year. 

Huge cash flow continues in Vietnam
Huge cash flow continues in Vietnam
FEATUREicon  15/11/2021 

Foreign capital flows are not only poured into Vietnam through FDI projects but also through buying shares in leading companies in the country.

Leeway for economic recovery, development
Leeway for economic recovery, development
BUSINESSicon  14/11/2021 

Government agencies are discussing how to launch a sufficiently large stimulus package to help the economy recover and develop after Covid-19. In the current context, is there room for this policy?

Norway to partner with Vietnam to "awaken" offshore wind power potential
Norway to partner with Vietnam to "awaken" offshore wind power potential
BUSINESSicon  14/11/2021 

Norwegian Ambassador to Vietnam Grete Løchen and Commercial Counsellor Arne-Kjetil Lian recently have handed over the 'Vietnam Supply Chain Study Report' to Vietnamese Minister of Industry and Trade Nguyen Hong Dien.

VN Rubber Association promoting certification grant toward building brand name
VN Rubber Association promoting certification grant toward building brand name
BUSINESSicon  14/11/2021 

To ensure the quality of rubber, a representative of the Vietnam Rubber Association said that it is promoting the grant of the certification Vietnam Rubber.

VIETNAM BUSINESS NEWS NOVEMBER 14
VIETNAM BUSINESS NEWS NOVEMBER 14
BUSINESSicon  14/11/2021 

Transport Ministry unveils prioritised waterway projects in 10 years

HCMC continues delaying seaport fee collection until April 2022
HCMC continues delaying seaport fee collection until April 2022
BUSINESSicon  13/11/2021 

HCM City will continue to extend the due date of collecting fees for using seaports and sea border gates infrastructure works in the city until April 1, 2022.

Businesses explore opportunities of serving elderly in Vietnam
Businesses explore opportunities of serving elderly in Vietnam
BUSINESSicon  13/11/2021 

Viet Nam's service market for the elderly is large with lots of potential, but is currently untapped, said experts during a forum in HCM City on...

Vietnam’s economy sees positive changes: World Bank
Vietnam’s economy sees positive changes: World Bank
BUSINESSicon  13/11/2021 

Amid a protracted COVID-19 outbreak, socio-economic data in October showed the contraction has bottommed out and Vietnam's economy has made positive changes, the World Bank in Vietnam said.

 
 
 
Leave your comment on an article

OR QUICK LOGIN