Rice exports set to pick up in Q1 2019 Rice exports are predicted to thrive during the first quarter of 2019 as regular importers are giving positive signs, according to a Ministry of Agriculture and Rural Development source. Rice exports to regular importers such as the Philippines and Indonesia will soar in the first quarter of 2019 as both have recently been hit by natural disasters. The Agro Processing and Market Development Authority made the prediction at a press conference on January 22. The conference briefed expectations of farm produce exports during 2019, reported the news outlet Vietnam Economic Times. The authority stated rice exports to regular importers such as the Philippines and Indonesia will soar in the first quarter of 2019 as both have recently been hit by natural disasters. As many as 166 Filipino companies have made plans to import 1 million tons of rice, of which many have been ordered from Vietnam. This move came after the Philippines lifted its import restriction policy. Under new rules set by the Philippines, rice imported from ASEAN countries will be taxed at 35% while the rate of rice shipments from non-ASEAN countries is 50%. Upon gaining easier access to the… Read full this story
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