22 July, 2008 - Vietnam has imposed export taxes on rice ranging from US$30 to US$175 per ton, according to local sources.
Prime Minister Nguyen is said to be behind the move tax rice shipments on a sliding scale depending on their contract price. This is the first time rice exports have been taxed.
Rice export contracts priced from US$600-700 per ton, free on board (FOB) will be taxed at VND 500,000 (US$30) per ton. Rice costing US$700-800 per ton will be taxed VND 600,000 per ton.
The scale increases to a maximum of VND 2.9 million per ton on exports costing US$1,300 a ton.
Vietnam’s 1H 2008 rice exports were 2.5 million tonnes – a 5.8% year-on-year increase. This figure is expected to rise to 3.5 million tonnes by the end of Q3, with overall year-on-year exports for 2008 predicted to remain stable at 4.5 million tonnes.
Vietnamese authorities have also issue export taxes for fertilizers of between VND4,000-5,000 per ton.