Rice exports

At a press conference on September 8 in Hanoi, Director of the Department of Crop Production under the Ministry of Agriculture and Rural Development (MARD) Nguyen Nhu Cuong informed that after the EU-Vietnam Free Trade Agreement (EVFTA) took effect, the EU has expanded its quota of rice imported from Vietnam to 80,000 tons per year. In 2019, Vietnam exported 50,000 tons of rice to the EU market under quotas, with a value of 28.5 million euros. Compared to other countries in the ASEAN, Vietnam's rice exports to Europe were only one-sixth of those of Thailand, one-tenth of those of Myanmar, and a quarter of those of Cambodia. However, since this year, Vietnam will have an additional 30,000 tons of fragrant rice grown in the Mekong Delta, which receives the wild card to enjoy preferential tariff treatment to this market. According to the Director of the Department of Crop Production, the cultivation area of fragrant rice in the Mekong Delta annually reaches about 25 percent of the total … [Read more...] about Ministry urges enterprises to complete procedures to export fragrant rice to EU

Vietnam shipped in excess of 16,390 tonnes of rice to the African country in 2019, fetching USD 6.28 million, a leap of 20.8 percent in value from the previous year. The figure hit USD 14.58 million in the first six months of 2020, accounting for 58 percent of Vietnam’s total export value to Algeria. … [Read more...] about Vietnam seeks to bolster rice exports to Africa

The ministry has also targeted boosting investments in agriculture and rural development; applying hi-tech methods in the production, processing, preservation and circulation of products to improve their quality and reduce their prices and diversifying processed food products so that consumers can get enough nutrients at appropriate prices. … [Read more...] about Ministry asks for improvement in rice export management

Trung An Company has just successfully exported 150 tons of ST20 and Jasmine fragrant rice in August this year at a fairly high price of US$600 per ton for Jasmine rice and $1,008 per ton for ST20 rice. According to Mr. Pham Thai Binh, General Director of Trung An Company, this is not the first time the company has exported rice to the EU, but these are the first batches of rice to be exported with import tariffs at zero percent when the EVFTA takes effect. To achieve this achievement, Trung An has done technical preparation to meet the EU market standards since 2011. It took 3-4 years for the company to improve the soil to produce clean and organic rice. Besides, Trung An must ensure the factors of origin of goods, quality of warehouses, environmental conditions, and food hygiene and safety. Orama Asiatic pennywort (Centella Asiatica) powder of Thien Nhien Viet Import Export Company Limited is favored by many EU customers, especially those in the Netherlands. Fresh pennywort is sold … [Read more...] about Enterprises share their experiences of exporting goods to EU market

The US Department of Treasury’s recent report of Vietnam’s large purchases of foreign currency in 2019 raised the risk that the US might name Vietnam as a currency manipulator. To prevent this risk, the State Bank of Vietnam (SBV) may suspend or limit foreign currency purchases in the short term. Therefore, if Vietnam's trade surplus stays high, the VND may appreciate slightly against the USD. … [Read more...] about Vietnam enjoys large trade surplus in August thanks to Samsung Note 20 exports