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EU remains a potential export market for Vietnamese rice

 Last Update: 2022-01-21
 Source: Internet
 Author: User

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(NDO) In 2021, although the export volume of Vietnamese rice to the EU will not show a strong growth momentum, the export price and export value will be greatly improved .

According to statistics, in 2021, Vietnam’s rice export volume and export value to the EU will reach 60,000 tons and 41 million U.
S.
dollars respectively, an increase of nearly 1% and more than 20% year-on-year respectively
.
Among them, the export volume and export value of fragrant rice reached 40,000 tons and nearly 30 million US dollars, respectively, an increase of 9% and nearly 30%
.
Since the Vietnam-EU Free Trade Agreement (EVFTA) came into effect, the export price of Vietnamese rice has increased by US$10-20 per ton
.

According to statistics from Eurosat, among the 10 major sources of rice in the EU, the price of Vietnamese rice exports to the EU increased the most, increasing by 20.
3%.

The Import and Export Bureau of the Ministry of Industry and Trade believes that the above results show that companies have made full use of the advantages of EVFTA to increase the export price of rice to the EU
.
Companies are catching up with the trend of producing a variety of high-quality rice and moving towards the high-end market
.
The share of fragrant rice in Vietnam's total rice exports to the EU has increased to 70% from 64% last year
.

According to the commitment in the EVFTA, the EU provides Vietnam with an export quota of about 80,000 tons of rice each year
.
The quota will greatly help Vietnamese rice exporters to take full advantage of the zero-tariff preference
.
Before the EVFTA came into effect, Vietnamese rice exported to the EU was subject to a tax rate of 45%
.
Even some countries in the European Union impose a tax rate of up to 100% on Vietnamese rice
.

It is reported that the 27 EU member states have a population of about 516 million.
The EU imports goods from all over the world, especially agricultural products
.
The EU is the third largest export market of Vietnamese agricultural products.
The annual export value of Vietnamese agricultural products to the EU reaches 5.
5 billion US dollars, but the market share of Vietnamese agricultural products in EU imports is only 4%, and the market share of rice is only 1%
.

According to the Vietnam Grain Association, the export of Vietnamese rice to the EU will continue to increase in 2022, especially as the quality of Vietnamese rice, including fragrant rice, continues to improve, Vietnamese rice continues to meet the preferences of European consumers
.
(Finish)

Rice export prices soar

　　According to statistics from Eurosat, among the 10 major sources of rice in the EU, the price of Vietnamese rice exports to the EU increased the most, increasing by 20.
3%.

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