New vision for rice sector

by VTV428 March 2017 Last updated at 19:00 PM

Vietnam's rice sector still faces many challenges in terms of both quality and brand name. In order to develop the sector to be more competitive and sustainable, Prime Minister Nguyen Xuan Phuc recently set out a new vision with specific strategies.

The added value over production value of rice product in the Mekong Delta is 11%. This also means farmers can earn profit of only 1,320 USD per hectare each year. Meanwhile, the Vietnamese rice sector is still facing several challenges such as low productivity, using large amount of labour and resources, high prices and low competitiveness.

Nguyen Huu Chi, Deputy Minister of Finance said: Each year, the Ministry of Finance provides about 22 million USD for seedling research. Those rice varieties have good quality, but whether they can be planted over a mass area is another story.

Bui Thi Thanh Tam, General Director, Vietnam Northern Food Corporation said: Vietnamese rice has been exported to many tough markets such as Japan and Europe. However, some batches have recently been returned as they did not meet requirements related to plant protection products.

Post-harvest losses are still high, accounting for 11% of total production. The Mekong Delta region alone loses billions of USD every year. In addition, small-scale production is also a reason for low competitiveness, requiring the sector to change.

“Vietnam has been exporting high amounts of rice. In the next 10 to 20 years, we need to create high added value for our rice product based on its nutrition and medicinal values. This will also contribute to building our rice brand”, said Prime Minister Nguyen Xuan Phuc.

In order to achieve this vision, Prime Minister Nguyen Xuan Phuc emphasised the importance of expanding the scale of production based on the links among farmers, co-operatives and businesses. He also asked related banks and tax agencies to reduce interest rates and tax rates for investing in rice production and trading as part of plans to develop a rice brand./.

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