Vietnamese rice products look set to enjoy bright prospects when trying to make inroads into the EU market due to the rice export quota being expanded, according to Nguyen Nhu Cuong, Director of the Crop Production Department. 

Positive outlook ahead for local rice in EU market following quota expansion

According to the EU-Vietnam Free Trade Agreement (EVFTA), the export of fragrant rice to the EU market has given a preferential quota of 30,000 tonnes, equivalent to 1.2% of fragrant rice volume from the Mekong Delta region, signaling a number of bright prospects ahead for the export of the item to the fastidious market. 

Providing that local businesses are able to meet all stringent regulations set by EU importers, the export of 30,000 tonnes of fragrant rice and 80,000 tonnes of rice under the set quota provided by the EU for the nation will serve to boost export prices and contribute to improving the overall value of local rice. 

Furthermore, the move will also help to elevate domestic rice brands in the international market, thereby providing a solid foundation in which to conduct negotiations aimed at expanding the quota for fragrant rice to the EU market.

Following instructions issued by the Department of Crop Production, the Vietnam Food Association has proposed adding a number of fragrant rice varieties to the list of items exported to this market as a means of boosting the export of the rice strain.  

Deputy Minister of Agriculture and Rural Development Le Quoc Doanh notes that immediately after the Government issued a decree on the certification of fragrant rice varieties exported to the EU, the Ministry of Agriculture and Rural Development (MARD) also issued a decision to instruct local businesses on relevant procedures on the certification of fragrant rice varieties exported to the EU.

At present, three enterprises have submitted applications to the MARD in order to register to export fragrant rice to this market, with the granting of all relevant certifications set to be completed within five days.

Businesses that are on the list are therefore requested to submit their applications as soon as possible so that the Crop Production Department can finalise all relevant procedures for businesses in order to swiftly export items to the EU, Deputy Minister Doanh emphasised.