Rice exports to the EU increased sharply thanks to EVFTA
Vietnam’s rice exports to the EU are expected to continue to boom in the near future. (Illustration image – Photo: Investment Newspaper)
Statistics show that rice export to the EU in the first 4 months of 2022 reached over 30,000 tons, with a turnover of 23 million USD. Particularly in the first quarter of 2022, Vietnam exported more than 22,500 tons of rice to this market, earning nearly 18 million USD, up nearly 4 times in volume and 4.3 times in value over the same period in 2021.
According to the Import-Export Department (Ministry of Industry and Trade), this result shows that businesses have effectively taken advantage of a number of advantages from the EVFTA Agreement, especially in the context of complicated epidemic developments, sea freight rates. Going to the EU increased sharply and this market’s rice imports decreased in 2021.
In the EU, Italy has risen to the top in importing rice from Vietnam, with import turnover increasing 26 times over the same period. Some other key markets are: Germany, France, Netherlands, Sweden…
The commitment from the EVFTA Agreement clearly states that the EU gives Vietnam a quota of 80,000 tons of rice per year, including: 30,000 tons of milled rice, 20,000 tons of unmilled rice and 30,000 tons of fragrant rice.
In particular, the EU will completely liberalize broken rice, this commitment helps Vietnam to export an estimated 100,000 tons to the EU annually.
For rice products, the EU will bring the tax rate to 0% after 3-5 years. This has opened up an opportunity for Vietnamese rice to compete with other countries when exporting to the EU. Therefore, with the passport from the EVFTA Agreement, Vietnam’s rice exports to this market have had excellent results.
With competitive prices, increasingly improved rice quality and advantages from the EVFTA Agreement, Vietnam’s rice exports to the EU are expected to continue to boom in the near future.
According to forecasts, in 2022, Vietnam’s rice exports to the EU are expected to increase quite a bit. In particular, the quality of Vietnamese rice has been improved, mainly aromatic rice varieties, hitting the tastes of European consumers.
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at Blogtuan.info – Source: vtv.vn – Read the original article here
