The EU-Vietnam Free Trade Agreement (EVFTA) has had a positive impact on Vietnamese enterprises and exports in the last two years since it came into force. However, the market share of Vietnamese products in Europe is still rather modest.
Economist experts commented that the target of Vietnam to export 7 tonnes of rice in 2022 is within the power. In addition, the export price of 5-percent broken rice is leading the world, at US$425-230 per tonne. These are truly positive signs to the national economy at the end of this year.
About 6.07 million tons of rice worth US$2.94 billion was exported in the first 10 months of 2022, up 17.2% in volume and 7.4% in value year on year, according to the Ministry of Agriculture and Rural Development (MARD).
A Vietnamese rice product has for the first time been put on the shelves of E.Leclerc Viry Châtillon, a hypermarket run by top French retailer E.Leclerc, as part of a program run by the Vietnam Trade Office in France.
The export prices of Vietnamese rice are declining due to the pressure from those of Pakistan and India. Currently, the prices of 5-percent broken rice are only US$488-US$492 per ton, down about $25 per ton compared to that in February this year.
Regarding exported rice and Vietnamese rice brands, on the afternoon of May 4, the Vietnam Trade Office in the UK informed that in 2020, the volume of Vietnamese rice imported into the UK increased from 1,296 tons, worth nearly US$1.3 million in 2019, to 3,396 tons, worth over $2.6 million.
According to Mr. Vu Ba Phu, Director of the Trade Promotion Agency under the Ministry of Industry and Trade, when an enterprise registers for trademark protection, other enterprises are not allowed to reuse that trademark and not duplicate registration.
Vietnam’s export turnover to six Northern European countries in 2020 was equal to figures reported in the previous year despite difficulties posed by the COVID-19 pandemic, according to Vietnamese Commercial Counsellor in Sweden Nguyen Thi Hoang Thuy.
In recent days, the export prices of Vietnamese rice have continued to top rice exporting countries, surpassing those of Thailand, India, and Pakistan. Typically, on January 22, the export price was at US$523 per ton for five-percent broken rice, $498 per ton for 25-percent broken rice, and $438 per ton for 100-percent broken rice. Last year, the export prices of Vietnamese rice also took the highest position many times.
In recent days, farmers in the Mekong Delta have been flexibly sowing the winter-spring rice crop early to avoid drought and saltwater intrusion at the end of the rice crop. Not only using high-quality rice varieties, but the percentage of farmers using certified rice varieties has also increased rapidly. These are important turning points in improving the quality of rice to enhance the value of Vietnamese rice in the international market.
At the end of the year, the weather in the South has started getting cold. This is also the time when the water in the fields downstream began to recede. Many farmers along the National Highway 61C, which connects Hau Giang and Can Tho provinces, are rushing to plow the soil to sow the winter-spring rice crop.
The Ministry of Agriculture and Rural Development (MARD) on September 22 coordinated with the People's Committee of An Giang Province to hold the announcement ceremony of the export of the first batch of fragrant rice to Europe under the EU-Vietnam Free Trade Agreement (EVFTA) with the participation of leaders of the MARD, other relevant ministries, and the representatives of the European Union in Vietnam.
According to rice experts, after winning the World’s Best Rice award, Vietnamese rice has resonated in the global market. If the country rapidly expands the production of ST25 rice with a safe cultivation process, this will be the golden time for Vietnam to advertise the Vietnamese rice brand.
Provinces in the Mekong Delta are entering the harvest season of the winter-spring rice crop, but the export of rice might be affected by the Chinese market due to outbreaks of an acute respiratory illness caused by the novel coronavirus (Covid-19). Amid such context, diversifying export market is considered as an urgent solution for the Vietnamese rice.