Vietnam has lifted its ban on rice exports with immediate effect, allowing 400,000 tonnes to be shipped this month.
Prime Minister Nguyen Xuan Phuc scrapped the ban Friday and ordered relevant ministries to develop an export plan what will ensure the benefits of farmers and traders.
The Ministry of Finance is tasked with controlling rice exports and buying 190,000 tons from traders for storage.
The Ministry of Industry and Trade will order Vietnam Customs to stop allowing exports when the prescribed quota has been reached.
On March 24, the Prime Minister issued a ban on rice exports until the end of May to ensure national food security amid the new coronavirus pandemic, but the Ministry of Commerce proposed to lift the order. this ban on the argument that supply will exceed demand 6.7 million tons per year.
The finance ministry had recently proposed that export of regular rice is stopped until mid-June to build reserves and ensure national food security.
Vietnam is the world's third largest rice exporter after India and Thailand.Last year, it exported 6 units.37 million tons worth $2.$81 billion, with the top markets being the Philippines, Ivory Coast, Malaysia and China.
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