According to statistics from the Customs agency, in 2022, Vietnam's rice export turnover will reach 7.1 million tons with a value of 3.46 billion USD, an increase of 13.8% in volume and an increase of 5.1%. in turnover compared to 2021. The average export price reached 486.2 USD/ton, down 7.7% compared to the average level in 2021.

Although it only accounts for a small proportion of about 2.45% of total exports, the European market has seen strong growth of up to 90.7% compared to 2021, reaching 172,200 tons.

The Ministry of Industry and Trade said that although the volume of exports to the EU is not large compared to other regional markets, the added value is high because the 27 EU countries are the markets consuming high-quality fragrant rice products from Vietnam.

Businesses also make the most of the amount of rice exported under tariff quotas to enjoy the 0% tax that the EU gives to Vietnam. Specifically, last year rice exports to the EU market increased sharply, reaching 94,510 tons of rice and exceeding the annual quota of 80,000 tons of rice that the EU set for Vietnam under the commitment from the EVFTA Agreement.

This shows that the quality of Vietnam's rice is increasing and meeting strict requirements from demanding markets while also showing that traders are taking good advantage of the incentives of the Agreement.

With the majority of rice types having high added value, Vietnam's rice export price to the EU market in 2022 will reach an average of 688 USD/ton, 41.4% higher than the general export price of 486 USD/ton nationwide.

According to commitments from the EVFTA Agreement, the EU gives Vietnam a quota of 80,000 tons of rice each year, including: 30,000 tons of milled rice, 20,000 tons of unmilled rice and 30,000 tons of fragrant rice. In particular, the EU will completely liberalize broken rice. This commitment will help Vietnam export an estimated 100,000 tons to the EU annually. For rice products, the EU will bring the tax rate to 0% after 3-5 years.

Minh Toan