Exported rice will be subjected to absolute tariff.

Nhan Dan - The highest absolute export tariff is set at VND 2.9 million for a tonne of rice and VND 5,000 for a kilogramme of fertiliser, according to a decision signed by the Prime Minister on July 21 on absolutes export tariff rates for rice and fertiliser.

There are eight absolute export tariff rates for rice products, based on its FOB export prices.

With rice sold at US$600 to under US$700 a tonne, the absolute export tariff is VND 500,000 a tonne. For those sod at US$700 to under US$800 a tonne, the tariff is VND 600,000 a tonne.

The absolute export tariff rates for rice increased from VND 800,000 a tonne to VND 2.9 million a tonne accordingly to the prices of exported rice products ranging from US$800 to US$1,300 a tonne.

For fertiliser, the absolute export tariff rate of VND 4,000 a kilogramme is applied to SA and DAP fertiliser while the rate VND 5,000 a kilogramme is applied to urea and potassium fertiliser.