Vietnam has nine fragrant rice varieties that enjoy tax incentives within their export quota into the European Union, but there are no world’s best rice varieties ST24 and ST25.

Nine Vietnamese rice varieties are exempt from tariffs when they are exported to the EU. (Illustrative image)

The nine rice varieties are Jasmine85, ST5, ST20, Nang Hoa 9, VD20, RVT, OM4900, OM5451 and Cho Dao.

The list of the rice varieties eligible for tariff exemption had been made before Vietnam and the EU concluded negotiations of their free trade agreement (EVFTA) in 2015.

The MARD refuted sources that said ST24 and ST25 are also amongst the varieties exempt from the EU’s tax incentives.

After nearly four years of implementing the EVFTA, Vietnam is proposing to adjust the list of fragrant rice for export to the EU with a tax rate of 0% to match the current reality of the country’s rice exports.

Negotiations are getting underway by both sides, and there has not been a final decision on whether to add any fragrant rice varieties to the list, said a MARD representative.

The MARD requested rice businesses to verify information to avoid affecting the ongoing negotiation process.

VOV

Published Date: April 20, 2024