She said the minimum price, once implemented, would prevent bidding exporters from selling too low, ensuring safety for themselves and farmers. “Right now we need solidarity and cooperation among Vietnamese rice exporters. Established corporations such as the Northern Food Corporation (Vinafood 1) and Southern Food Corporation (Vinafood 2) can represent Vietnamese rice exporters in bidding wars in certain countries. The VFA was told to take measures to protect the domestic rice market, ensure export efficiency and maintain the reputation of Vietnamese rice on the global market. In 2024, Indonesia plans to import approximately 3.6 million tonnes of rice, an increase of 1.6 million tonnes from their initial target.

Source: Viet Nam News June 04, 2024 13:42 UTC