Price of Vietnamese rice shipped to EU rises to 1,000 USD per ton after EVFTA
(VOVWORLD) - Trung An Hi-tech Farming JSC, a local rice exporter, saw the selling price of its rice shipped to the EU rise to 1,000 USD per ton after the EU-Vietnam Free Trade Agreement (EVFTA) took effect this month.
 Transfer rice to a container at the Trung An Hi-tech Farming JSC (Photo: VNA) |
The EVFTA opened the door for expanded Vietnamese rice sales in the EU by reducing the export tariff to 0% on a quota of 80,000 tons per year.
Pham Thai Binh, Trung An's director, said his firm has signed contracts with three rice buyers in Germany for a total of 3,000 tons. To be accepted in the EU market, rice must have clear origin and meet global standards, said Binh. “Vietnamese goods, particularly agricultural products, now enjoy a 0% tariff when exported to the EU market, compared to 5 to 45% in the past. The high quality export items with Vietnamese brands on them can help build trademarks for Vietnamese goods.”