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Mixed emotions as EU revokes import tariffs on long-grain rice from Myanmar and Cambodia

Rice
Cambodia
Price Trend
Myanmar [Burma]
Regulation / Agreement
Jan 20, 2022
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With the EU rolling back import tariffs on long grain white rice from Myanmar and Cambodia, market participants expect a rise in shipments from Myanmar, although Cambodian exporters were heard skeptical due to continued high freight rates.
The tariffs were enforced from Jan. 18, 2019 as a temporary measure to help protect EU farmers from competitively priced long grain rice, with exporters in Cambodia and Myanmar having benefitted from tariff-free status under the EU’s Everything But Arms initiative. However, medium grain, short grain and broken rice — in addition to brown long grain — imports from these countries were unaffected by the tariffs. The EU’s temporary import tariffs were set at Eur175/mt ($198/mt) in the first year, Eur150/mt ($170/mt) in the second year and Eur125/mt ($142/mt) in the third year. One trader said that the news will be “good for Myanmar” and that the country will “certainly [export] more rice to the EU,” following the development. A second trader said Jan. 14 that although “prices slumped [in Myanmar] last week … they have now firmed” as “people have already begun factoring the tariff change into their export prices.” A third Singapore-based trader added that they have a “strong feeling” ...
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