VCCI proposes easing regulations on rice trading and export

VCCI expressed this opinion while providing feedback on the draft revised Decree 107 on rice exports. According to the draft, rice exporting businesses are required to maintain a minimum circulation reserve regularly and possess warehouses and rice mills that meet national technical standards. Additionally, VCCI proposed the removal of the requirement for re-issuing certificates every five years, aiming to reduce costs and time for rice exporting businesses. During the past two weeks, Vietnam’s rice export prices have surged, possibly exceeding US$600 per ton, following bans imposed by India, the UAE, and Russia on rice exports. Vietnam’s rice export is projected to reach 7.5 million tons in 2023, a 6% increase compared to the previous year.