Vietnam: Entities to be allocated entrusted rice export quotas

09:12, 04/10/2018

The Ministry of Finance of Vietnam issued Circular No. 30/2018/TT-BTC elaborating a number of articles of the Government's Decree No. 107/2018/ND-CP on rice export.

According to Vietnam’s new regulations, entities to be allocated entrusted rice export quotas are specified in Circular No. 30/2018/TT-BTC as follows:

- The quantity of rice to be exported under the signed centralized contracts shall be allocated to rice exporters for carrying out the entrusted export in conformity with regulations and criteria set forth in Clause 6 and Clause 7 Article 19 of Decree No. 107/2018/ND-CP of Vietnam’s Government.

- The Vietnam Food Administration shall not allocate entrusted export quotas to rice exporters who fail to obtain the certificate of eligibility to export rice from competent authorities as regulated in Decree No. 107/2018/ND-CP.

Besides, Circular No. 30/2018/TT-BTC also stipulates the designation of leading exporters in rice transactions as follows:

- Qualified rice exporters shall be selected and designated to play the leading role in the rice transactions conducted under centralized contracts in conformity with criteria set forth in Clause 2 Article 19 of Decree No. 107/2018/ND-CP.

- Where there are two exporters or more designated to play the leading role in rice transactions for a market under a centralized contract, the rotation mechanism prescribed in Article 4 of Circular No. 30/2018/TT-BTC shall apply.

Circular No. 30/2018/TT-BTC of the Ministry of Finance of Vietnam takes effect from November 15, 2018 and replaces Circular No. 44/2010/TT-BTC.

- Thanh Lam -

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