Update: 12:17 | 21/01/2020
The Republic of Korea (ROK) has opened its market to Vietnamese rice, grating a quota of 55,112 tonnes of rice from Vietnam only.
Information from the Agency for Foreign Trade under the Ministry of Industry and Trade revealed that in addition to a quota of 20,000 tonnes of rice to all the members of the World Trade Organisation (WTO), the ROK has given a quota of 55,112 tonnes for all types of rice grown by Vietnam.
Vietnam’s ST25 rice honoured as best in the world at the Rice Trader World Rice Conference 2019. The country has been granted a quota of 55,112 tonnes of rice for export to the ROK.
The East Asian country has made sure to apply a quota allocation mechanism in accordance with WTO regulations that would not cause import restriction effects.
As it is an opportunity for Vietnamese rice to access the Korean market, the Agency for Foreign Trade has sent an official dispatch to the local Industry and Trade departments and the Vietnam Food Association, asking them to promptly inform Vietnamese rice exporters of the news.
Rice traders can seek more information about the Korean market, quota and rice bidding on the website of the Korean Ministry of Agriculture, Food and Rural Affairs at http://www.mafra.go.kr/english.
They have been advised to contact the Agency for Foreign Trade via email at firstname.lastname@example.org for further help.