Vietnam exports nearly 104,000 tonnes of rice to EU market

These figures represented an increase of 10% in both volume and turnover compared to 2022. This is also the second consecutive year that Vietnamese rice exports to the EU exceeded the quota allocated by the EU. 

So far, the country has exported rice to 26 out of 27 EU member countries, led by Germany with 23,328 tonnes, representing an increase of 49.3% on-year and accounting for 22.4% of the market share. This was followed by Poland with 14,726 tonnes, marking a rise of 92% and making up 14.2% market share.

In particular, the export rice volume to several markets witnessed three to four digit numbers, including Hungary up, 12 times; Bulgaria, up 730%; Greece, up 483.3%; and Portugal, up 425%.

These positive results indicate that Vietnamese businesses have taken full advantage of opportunities from the EVFTA. while the quality of Vietnamese rice has also been increasingly improving to meet the stringent requirements from demanding markets.

Ngo Xuan Nam, deputy director of SPS Vietnam Office, emphasized that the EU market is one of the fastidious markets which has set high standards for imported products. However, in recent years no Vietnamese rice shipments exported to the EU market have been warned.

Most notably, recently the ST24 and ST25 rice, rice varieties which have twice won the title of best rice in the world, have officially enjoyed preferential tariffs when exported to the EU market. This has opened up huge opportunities to increase rice export turnover into this potential market.

Currently, Vietnam has risen to eighth place among rice to the EU with a market share of 2.8% of the region's total imports. 

Bernd Lange, chairman of the European Parliament's International Trade Committee, has hailed the EVFTA as a successful story, noting that after three years of implementing the  terms of the deal, trade turnover between the bloc and Vietnam has grown by 20%. 

He emphasised that agreements between the bloc and the nation, including the EVFTA, have been the important milestones for the relationship between the two sides, especially amid the global uncertainties and rising trade protectionism. 

However, the EU has recently moved to tighten food safety management, especially tax evasion cases from third countries. 

Simultaneously, in January the EU also issued many pesticide residue thresholds for imported products with Vietnamese seafood, honey, eggs, and milk all being considered, while temporary measures to control food safety at border gates have been tightened.

These factors are anticipated to put forth further challenges for Vietnamese agricultural products in the time ahead.