First batch of best rice strain to be exported to EU next week
Addressing a regular press conference of the Government on September 4, Minister Dung said the European Union is considered to be a potential export market for Vietnamese rice products, including the ST20 variety, following the enforcement of the EU-Vietnam Free Trade Agreement (EVFTA), therefore pushing up the export price of local rice to the EU market.
At present Vietnamese ST20 and jasmine rice varieties have been traded at over US$1,000 and over US$600 per tonne, respectively, compared to figures of US$800 and US$520 per tonne as seen in the past.
Most notably, preferential tariffs and rice quotas for the nation under the EU-Vietnam Free Trade Agreement (EVFTA) are anticipated to serve to increase rice exports to the EU market, while simultaneously enhancing the competitiveness of domestic rice in the demanding market in comparison with other rice exporters.
Dung also affirmed that the agricultural sector is set to continue providing a solid foundation for the national economy, as it is likely to maintain growth momentum at between 2.6% and 2.8% and earn approximately US$41 billion this year.
The Ministry of Industry and Trade reported that Vietnam’s rice exports to the EU remain low, earning just US$10.7 million from exporting approximately 20,000 tonnes last year. The average rice consumption in the EU market reached roughly 2.5 million tonnes per year in the 2016 to 2020 period
Related News
Production ensures export of 7.4 million tons of rice this year
14:30 | 06/05/2024 Import-Export
State budget revenue estimated at VND733.4 trillion
14:40 | 06/05/2024 Finance
Seafood enterprises encounter problems with specialized inspection
10:37 | 05/05/2024 Import-Export
Take advantage of E-commerce leverage for export.
13:48 | 04/05/2024 Import-Export
Latest News
Make use of the most of favorable factors for economic growth
15:38 | 06/05/2024 Import-Export
Textile and garment businesses face difficulties due to lack of domestic supply
15:36 | 06/05/2024 Import-Export
Vietnam leads in export rice prices globally
15:34 | 06/05/2024 Import-Export
More businesses to join Vietnam E-Pavilion
16:34 | 05/05/2024 Import-Export
More News
Cooperatives urged to focus on branding to expand exports of organic tea
16:32 | 05/05/2024 Import-Export
Three groups of export commodities achieved billions of USD
10:36 | 05/05/2024 Import-Export
Speed up the process of issuing "passports" for durian exports
15:14 | 04/05/2024 Import-Export
Vietnamese pomelo likely to be exported to Australia
15:12 | 04/05/2024 Import-Export
Central beach city to lure investment from potential partners
14:54 | 03/05/2024 Import-Export
Vietnam to have enough 8 million tonnes of rice for export
14:47 | 03/05/2024 Import-Export
Binh Duong: Fertile ground for logistics businesses
10:16 | 03/05/2024 Import-Export
Some 51,600 new firms established in four months
17:17 | 02/05/2024 Import-Export
Agro-forestry-aquatic product exports post trade surplus of 4.74 billion USD in four months
17:13 | 02/05/2024 Import-Export
Your care
Make use of the most of favorable factors for economic growth
15:38 | 06/05/2024 Import-Export
Textile and garment businesses face difficulties due to lack of domestic supply
15:36 | 06/05/2024 Import-Export
Vietnam leads in export rice prices globally
15:34 | 06/05/2024 Import-Export
Production ensures export of 7.4 million tons of rice this year
14:30 | 06/05/2024 Import-Export
More businesses to join Vietnam E-Pavilion
16:34 | 05/05/2024 Import-Export