return icon

Vietnamese rice exporters face risks in US market

 VietNamNet Bridge – Vietnam rice exporters face a risk of being sued because of their low selling prices in the US market.

VietNamNet Bridge – Vietnam rice exporters face a risk of being sued because of their low selling prices in the US market.


Local newspapers have quoted Lawyer Ngo Quang Thuy as reporting that the US House of Representatives’ Finance & Tax Committee, unofficially representing USRPA (the US Rice Producers’ Association), on May 15 filed a petition to the International Trade Commission (ITC) requesting an investigation of the competitiveness of rice imports against domestic rice.

On June 17, the commission released a decision to begin an investigation. It is preparing a report on the risks for US domestic rice production from major rice exporters in the world, including Brazil, China, India, Indonesia, Thailand, Uruguay and Vietnam.

After the investigation ends, the US may consider imposing an anti-dumping and countervailing duty lawsuit, slated for 2015.

Thuy said he can see some worrying problems when considering the rice import prices from Vietnam in the period from 2009 to 2013.

ITC documents show that the average import price from Vietnam in 2013 was about half of the import prices from Thailand, India and Pakistan, the three biggest rice exporters to the US in the year.

Nguyen Van Don, director of Viet Hung Company Ltd, said he is concerned that the US may file a lawsuit against Vietnam rice imports.

According to Don, Vietnam mostly exports fragrant rice, a high quality rice, to the US, but the price of exports is only half of the Thai rice price.

Professor Vo Tong Xuan, the best-known rice expert in Vietnam, noted that Vietnamese rice exporters should pay more attention to conquer the US market.

In 2013, Vietnam was the third biggest rice exporter in the US, following Thailand and India. Xuan stressed that this is a market with high potential because of a high percentage of Asians live in the US.

The attractiveness of the US market has prompted Cambodia to invest millions of dollars on a program to upgrade its rice export quality to boost exports to the US.

Analysts commented that by selling rice cheaply, Vietnam not only loses big money, but also faces high risks of being sued in the US market.

Most recently, Vietnam won a bid to provide 800,000 tons of rice to the Philippines. And the reason behind the “victory” was the low bidding price Vietnam offered.

The average price Vietnam offered was $439 per ton CIF (cost, insurance, freight in the Philippines), which was $30 per ton lower than the prices offered by its rivals. Cambodia, for example, offered the price of $469 per ton, and Thailand offered $474 per ton.

Xuan noted that Vietnamese enterprises should not try to sell rice cheaply to attract more buyers. In fact, this policy has done more harm than good.

Dat Viet


Nguyen Thi Tam wins silver at World Boxing Champs

Vietnamese boxer Nguyen Thi Tam lost 0-5 to world defending champion Nikhat Zareen (India) in the final match of the IBA Women’s World Boxing Championships on March 26 evening.

Da Nang releases MV to stimulate tourism

A music video entitled “Tuyet voi Da Nang" (Da Nang FanstastiCity) was officially released on several media platforms on March 25, aiming to promote images of the central beach city to both domestic and foreign tourists and stimulate travel demand.

Sapling from world's longest-living Bodhi tree planted in Bai Dinh pagoda

A sapling marcotted from a 2,300-year-old Bodhi tree (also known as sacred fig with the scientific name of Ficus religiosa), the oldest of its species in the world, has been planted at the Bai Dinh pagoda in the northern province of Ninh Binh.

Cruise ship brings more than 2,000 int’l visitors to Ha Long

Malta-flagged cruise ship Mein Schiff 5 docked at Ha Long international port in the northern province of Quang Ninh province on March 26, carrying 2,191 European visitors to the locality.

Mekong Delta develops trademarks for specialties

Building and developing trademarks and obtaining certificates of origin are considered effective ways to create added value for products, thus expanding markets for specialties of the Mekong Delta.

Vietnam named in Agility’s top 10 Emerging Markets Logistics Index 2023

Vietnam has been ranked in the top 10 places in the 2023 Agility Emerging Markets Logistics Index compiled by Agility, one of the world’s top freight forwarding and contract logistics providers.

Boxer Nguyen Ngoc Hai wins WBA belt

Nguyen Ngoc Hai defeated Campee Phayom of Thailand with a knock-out victory at Vietnam's largest professional boxing tournament LEAD: Born to Lead to win the vacant World Boxing Association Asia South super lightweight title in HCMC on March 25.

Cumbersome procedures destroy creativity

Principles and regulations are set to serve development, but, ironically, many of them have become obstacles that hinder development.

AIS issues warning about software security flaws in Vietnam

The Authority of Information Security (AIS) has requested agencies, organizations and businesses to check systems affected by six security vulnerabilities in Microsoft’s products, and update them with patches to avoid the risks of being attacked.

VN corporate bond market warms up after lackluster year

Real estate firms and leading enterprises issued nearly one billion USD worth of corporate bonds within two weeks after the government released a decree, removing obstacles for enterprises.


Roof proposed for HCM City Walking Street

New tech promises fewer delays at country’s biggest airports

The Civil Aviation Authority of Vietnam has just approved to pilot the implementation of the Airport Collaborative Decision Making (A-CDM) model at the country's two biggest airports of Tan Son Nhat and Noi Bai.

VN National Tourism Year 2023 kicks off in Binh Thuan

The ’Bình Thuan-Green Convergence’ themed programme seeks to drive green growth and promote tourism development through collaboration with other economic sectors for sustainable progress.


Gov’t instructs acceleration of public investment disbursement

35 Vietnamese students compete at Int’l Robothon 2023

Thirty-five Vietnamese contestants will compete in the Leanbot category as part of the International Robothon 2023 contest due to get underway in Malaysia on March 26.