Ample Room for Rice Export From Vietnam to EU

According to the Ministry of Industry and Trade of Vietnam, export businesses have obtained many opportunities from the EU-Vietnam Free Trade Agreement (EVFTA). Compared to other rice-exporting countries such as India and Thailand, Vietnam has a winning advantage in EU markets thanks to signing the EVFTA. Currently, Vietnam has risen to 8th position among foreign markets supplying rice to the EU and the potential for Vietnamese rice to be exported to this market is still very large.

According to the content of the EVFTA, the EU gives Vietnam an annual quota of 80,000 tons of rice exports. In particular, the EU will completely liberalize Tam rice (Gao Tam). This commitment will help Vietnam export an estimated 100,000 tons to the EU each year.

There are currently 9 Vietnamese fragrant rice varieties enjoying tax incentives within the quota when exported to the EU (Photo: VNA).

For rice products, the EU will lower the tax rate to 0% after 3-5 years. This has opened up opportunities for Vietnamese rice to compete with other countries when exported to the EU.

Within the ongoing framework of EVFTA implementation, there are currently 9 Vietnamese fragrant rice varieties enjoying tax incentives within the quota when exported to the EU. They are Jasmine85, ST5, ST20, Nang Hoa 9, VD20, RVT , OM4900, OM5451 and Cho Dao Resources. This list was built before 2015 (when EVFTA negotiations ended).

After nearly 4 years of implementing the agreement, Vietnam proposes to adjust the list of fragrant rice for export to the EU with a tax rate of 0%. The goal of this proposal is to match the current reality of Vietnam's rice export. The negotiation for the additional adjustments to the list of fragrant rice is being coordinated by the Department of International Cooperation and the Department of Crop Production (Ministry of Agriculture and Rural Development).

Experts say that the EU is a market with a lot of room to grow Vietnam's rice exports. The average annual consumption per capita in the EU is about 6 kg, while the average global rice consumption per capita is about 54 kg/person. Another reason is that the EU's total annual rice import demand is about 3-4 million tons (according to data from the Statistics Agency). Eurostat).

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