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Friday, September 30, 2022

Vietnam importers advised to re-negotiate with India over rice purchases

The Saigon Times

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HCMC – Vietnam’s Trade Office in India has urged Vietnamese rice importers to contact their Indian sellers to check the status of delivery and re-negotiate with their partners over rice purchases, as India has imposed restrictions on rice exports.

The Trade Office said on September 8 that India had banned exports of broken rice and imposed a 20% duty on the export of some types of rice. The ban took effect on September 9.

However, some shipments will still be exported until September 15 if they meet one of the following conditions: rice had been loaded on ships before the ban, an invoice had been issued and a rice-carrying ship has arrived in India, or rice had been referenced to the customs for checks and export registration.

In 2021, Vietnam imported 433,000 tons of rice from India.

India’s restrictions on rice exports have sent the Asian rice price up 5%. The rice price is expected to continue to rise, the local media reported.

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