There is much room for Vietnamese rice to be exported to the EU.

In the first quarter of this year, Vietnam exported nearly 46,000 tons of rice to the EU market, with a turnover of 41.4 million USD, more than double that of the same period last year.

According to the Ministry of Industry and Trade , this result is thanks to businesses taking advantage of opportunities from EVFTA. Compared to other rice exporting countries such as India and Thailand, Vietnam is the country with the greatest competitiveness in EU markets, thanks to having signed EVFTA. Currently, the EU's total rice import demand is about 3 - 4 million tons. Thus, there is still a lot of room for Vietnamese rice to be exported to the EU.

According to the EVFTA commitment, the EU will give Vietnam a quota of 80,000 tons of rice per year. In particular, the EU will completely liberalize broken rice, this commitment will help Vietnam export an estimated 100,000 tons to the EU per year.

For rice products, the EU will reduce the tax rate to 0% after 3-5 years. This has opened up opportunities for Vietnamese rice to compete with other countries when exporting to the EU. Currently, Vietnam has risen to 8th place among non-bloc markets supplying rice to the EU.

There is much room for Vietnamese rice to be exported to the EU. Illustrative photo.

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

After nearly 4 years of implementing the agreement, Vietnam is proposing to adjust the list of fragrant rice for export to the EU with a tax rate of 0% according to the quota to suit the current reality of Vietnam's rice exports. The negotiation to adjust and supplement the list of fragrant rice is being worked on by the Department of International Cooperation in coordination with the Department of Crop Production ( Ministry of Agriculture and Rural Development ) with the EU.

The average annual consumption per capita in the EU is around 6 kg, while the average global rice consumption per capita is around 54 kg/person.

Experts say that the EU is a market with much room for growth in Vietnam's rice exports because the EU's total annual rice import demand is about 3 - 4 million tons (according to data from the European Statistical Office Eurostat), while Vietnam's exports to the EU only account for a very small portion.

According to VTV.vn

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