9:27:09 AM | 23/10/2008
Vietnamese Ministry of Industry and Trade (MoIT) has officially suggested the Ministry of Finance to apply 0 per cent tax exported rice, according to the ministry’s website.
The current tax imposed on a ton of exported rice is US$800. The MoIT said rice export prices are now dropping sharply from previous months and exporters are facing with a number of difficulties.
The MoIT said the slash of exported rice tax to 0 per cent will encourage purchase and export of rice, as well as cultivation of high grade rice varieties.
Export prices of Vietnamese rice have decreased by 25 per cent against April 2008, to only US$500 a ton of 5 per cent broken rice, and US$400 a ton of 25 per cent broken rice.
Analysts predicted that the prices will drop further due to the global financial crisis.
To fulfill yearly rice export target, Vietnam planned to raise rice export volume in the fourth quarter to one million tons. (Vinanet)
Vietnamese
