Assoc. Prof. Dr., currently the information that Vietnam's rice is the most expensive in the world is considered "happy and also worried", from an economic expert's perspective, could you please give your opinion on this issue?

First of all, the good news, because, so far, the price of Vietnamese rice has always been lower than that of Thailand. Besides, the issue we mentioned a lot recently is the ability to negotiate on the price and quality of the goods.

Rice exports in the context of some countries banning exports: Flexible solutions to achieve many goals

However, the high export price of rice leads to an increase in domestic rice prices. Therefore, considering and calculating how to be reasonable at this time is the problem of "brain tension" of the business.

On the other hand, the price of rice is so high, but farmers - who directly produce rice grains, are not the ones who benefit the most.

Another issue that businesses need to keep in mind is that price fluctuations will only happen in a short time, rice prices may increase and stand at a very high level but then decrease and return to normal levels. balance. This level is usually much lower than the peaked level.

Therefore, businesses need to be very careful. If the business is not alert, "swinging to the top" will lead to "old and broken", but too young will suffer damage. This actually happened.

After some markets banned rice exports, the world rice market became very "hot". In the field of management of the industry and trade for rice, the direction given by the Ministry of Industry and Trade is to take advantage of market opportunities while ensuring food security. What do you think about this directive?

This is a right and wrong issue, because food security is a vital issue of the economy. Therefore, people cannot be broken, lack food or depend on imported food sources. In order to have food security, the first thing we need to have is proper storage.

Economic expert Dinh Trong Thinh

Besides, it is necessary to consider how far we can sell. Because selling goods at an attractive price is also an opportunity that is not always available.

Stocking up is necessary, but just enough. It is necessary to calculate carefully, otherwise, when the new crop arrives, the rice market returns to normal, the rice in stock cannot be sold at a high price, which will cause damage to businesses and the rice industry.

According to data from the Ministry of Agriculture and Rural Development , the total rice area of the country in 2023 is about 7.1 million hectares; average yield is 60.7 quintals/ha, output is estimated at over 43.1 million tons of paddy, an increase of over 452 thousand tons compared to 2022.

According to the Vietnam Population Living Standard Survey, the average Vietnamese person consumes 83 kg/year, 92 kg/person/year in rural areas and 68.4 kg/person/year in urban areas. Thus, the total rice needed for human consumption is about 8.7 million tons of rice; serving processing about 7.5 million tons of paddy; for livestock raising about 3.4 million tons of rice; used as seed, backup seed about 1 million tons of rice; domestic reserves of about 3.8 million tons of paddy.

According to data from the Center for Digital Transformation and Agricultural Statistics - Ministry of Agriculture and Rural Development, the estimated balance of domestic consumption demand in 2023 is about 29.5 million tons of paddy with a safety factor. very high. The amount of rice exported in 2023 is estimated at over 7.0 million tons (equivalent to about 14 million tons of paddy).

The Ministry of Agriculture and Rural Development also affirmed that from now until the end of the year, if there are no abnormal changes in the weather, the rice output will ensure the plan to fully meet the domestic rice demand and meet the requirements of the country. export demand.

"Preventing violations of price listing, speculation, hoarding and unreasonable pricing of rice products" is one of the requirements set out in Directive No. 07/CT-BCT dated on 15/8/2023 of the Ministry of Industry and Trade, is this necessary in the context of the current "hot" rice market, sir?

I agree to this request. Markets are mutually exclusive. Therefore, before the world and domestic rice export prices are very "hot" after the ban on rice export of some countries, violations of price listing, speculation, hoarding, illegal pricing handling of rice products in the domestic market is likely to happen. We need prevention better than cure.

Prices of commodities in general, and rice in particular, fluctuate up/down, which will affect our consumption process as well as our production, business, and storage activities.

Therefore, the above solution will both ensure food security, and at the same time ensure the state management of prices, as well as smooth domestic consumption, and smooth food reserves. At the same time, ensure the safety of business activities and other production activities in the national economy.

Thank you Sir!