Meeting standards, Vietnamese rice may be exported at price of US$3,000 – 4,000 per ton

This is affirmed by Mr. Pham Thai Binh, Director General of Trung An Hi-tech Agriculture Company at the online seminar on Exports to the EU with advantages from EVFTA: What does Vietnamese goods need? held by the High Quality Vietnamese Goods - Integration Standard Project on September 3.

Despite significant increases, the rice export price is still not commensurate with its real value

After the EVFTA took effect, Trung An Company signed a contract to export fragrant rice to the EU with FOB price (Free On Board) of US$1,080 per ton. While before the EVFTA, the highest export price that the company achieved was only US$800 per ton.

Mr. Binh said: "Vietnam's business culture is very poor, when a market is open, enterprises will race to reduce prices to compete and dominate the market. In fact, the price of US$1,080 per tonis not high and still not commensurate with the real value. If meeting the standards, Europeans are willing to pay the price of US$3,000-4,000 per ton for Vietnamese organic rice.”

According to Mr. Binh, in the short term, Trung An has not taken into account the profit, but focuses on ensuring the standards of the European market. In the long term, it is necessary to increase the value to match the efforts of farmers and the company.

Trung An is in talks with France about printing Trung An brand on product packaging, which has been accepted. Therefore, in the near future, Vietnamese rice will be on the shelves of European supermarkets with Vietnamese brands.