The Vietnamese Ministry of Agriculture and Rural Development has written to the prime minister proposing the elevation of rice exports as global rice prices are on the high rise, driven by multiple changes in rice-related strategies in many countries.

Among them are Russia’s halt to a crucial deal allowing the export of grains from Ukraine via the Black Sea, according to the ministry.

The deal, brokered by the United Nations and Turkey in July, aimed to alleviate a global food crisis by allowing Ukrainian grains blocked by the Russia-Ukraine conflict to be exported safely, reported Reuters.

India and the United Arab Emirates have also banned rice exports.

The El Nino dry weather, worsening saltwater intrusion, and drought are expected to affect global rice production and exports.

The ministry’s proposal to increase rice exports is aimed at cementing Vietnam’s position in the global food supply chain and guaranteeing the global food security amid a series of uncertainties.

The ministry also proposed the prime minister issue guidelines on spurring rice exports to the relevant ministries and agencies.

Specifically, the Ministry of Agriculture and Rural Development should keep a close eye on rice production, and take action in pest prevention and response to abnormal weather to fulfill the target of turning out 43 million metric tons this year.

The ministry proposed the national government assign the Ministry of Industry and Trade to boost rice exports by predicting global rice exports, imports, consumption, and rice prices.

Authorities in provinces and cities should create favorable conditions for farmers and rice firms to grow, produce, and trade rice, according to the proposal.

The agriculture ministry also suggested tasking the Vietnam Food Association with seeking foreign rice importers to smooth Vietnamese rice exports.

Vietnam’s 5-percent broken rice sold for US$588 per metric ton on Tuesday, up $55 a metric ton against the price set 10 days earlier, according to the association.

The price of Vietnam’s 5-percent broken rice is $35 per metric ton lower than that of Thailand’s.

As of July, Vietnam had exported rice worth $2.58 billion, up 30 percent year on year, reporting the average rice price at $534 per metric ton, edging up 9.2 percent from the year-ago period.

The Southeast Asian nation aims to ship over 7.5 million metric tons of rice worth $4.1 billion this year.

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