Rice exports to EU quadruple in Q1

Illustrative photo (Source: VNA)

Vietnam exported 22,500 tonnes of rice to the EU for nearly 18 million USD in the first quarter of 2022, roughly a four-fold increase in both volume and value compared to the same period last year thanks to preferential tariffs enjoyed under the EU-Vietnam Free Trade Agreement (EVFTA).

In the first four months of this year, over 30,000 tonnes of Vietnamese rice were shipped to EU nations, earning the country some 23 million USD, according to the Ministry of Industry and Trade’s Agency of Foreign Trade.

Italy rose to the top of EU importers, with spending on Vietnamese rice surging 26-fold year-on-year. Other major buyers included Germany, France, the Netherlands and Sweden.

Under the EVFTA, the EU is committed to purchasing 80,000 tonnes of rice annually from Vietnam, which will enjoy zero duties in 3-5 years.

The shipments include 30,000 tonnes of milled rice, 20,000 tonnes of unmilled rice and 30,000 tonnes of fragrant rice./.