Vietnam: Rice exports to the EU in the first 4 months of 2022 reached over 30,000 tons thanks to EVFTA

Published 2022년 5월 20일

Tridge summary

Vietnam has seen a significant increase in rice exports to the European Union (EU) in the first four months of 2022, exporting over 30,000 tons and earning $23 million. This represents a fourfold increase in volume and a 4.3-fold increase in value compared to the same period in 2021. Italy has emerged as the leading importer of Vietnamese rice, with the EVFTA Agreement allowing Vietnam to export 80,000 tons of rice annually to the EU, including 30,000 tons of fragrant rice with 0% tax. Despite challenges such as high sea freight rates and reduced imports in 2021, the price of Vietnamese rice exports to the EU increased by 9%, reaching $755/ton. With room for growth, as Vietnam's market share in the EU is currently only 3.1%, and the quality of Vietnamese rice appealing to European consumers, the outlook for rice exports to the EU remains positive.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Rice exports to the EU in the first four months of 2022 reached over 30,000 tons, with a turnover of $23 million. Particularly in the first quarter of 2022, Vietnam exported more than 22,500 tons of rice to this market, earning nearly 18 million USD, up nearly 4 times in volume and 4.3 times in value over the same period in 2021. In the EU, Italy has risen to the top of rice imports from Vietnam, with import turnover increasing 26 times over the same period. Some other key markets are Germany, France, the Netherlands, Sweden... According to the Import-Export Department (Ministry of Industry and Trade), this result shows that businesses have effectively taken advantage of a number of advantages from the EVFTA Agreement. In order to increase the value of rice exports to the EU, especially in the context of complicated epidemics, sea freight rates to the EU increased sharply and rice imports from this market decreased in 2021. Commitments from the Agreement The EVFTA clearly states ...

Source: Vinanet