Vietnam Trade Office in Angieri (Ministry of Industry and Trade), according to the United Nations Food and Agriculture Association (FAO), said that in 2019, Senegal imported about 1.5 million tons of rice, an increase of 15% compared to 2018 due to production. Rice in the Senegal River valley is not good, about 100,000 tons.
In 2019, Vietnam's rice exports to Senegal increased sharply compared to 2018, however, the price of rice dropped.
Specifically, exports of Senegal rice reached 96,665 tons, turnover reached 32.6 million USD, up more than 13 times in volume and 10.2 times in value. In this market, Vietnamese rice has to compete with rice from India, Pakistan, Thailand, China, Brazil, Argentina, Uruguay, USA, Malaysia and Cambodia.
Since 1995, Senegal has abolished the monopoly on rice imports of state companies and completely liberalized the import of this type of food. Due to the constant drought threat, Senegal's food production only meets about 20% of the domestic demand.
Accordingly, each year, the country still has to import 700,000 – 800,000 tons of rice, of which more than 90% is broken rice. Senegalese people prefer broken rice because in addition to the cheap factor, this is also a habit dating back to French time.
Vietnam's trade in Angieri forecast that in 2020, demand for Senegal's rice imports in particular and Africa in general will remain high because in February, locust outbreak in East Africa destroyed crops, adding to That is the outbreak of COVID-19, which has led to people's psychology to increase the accumulation of food, including rice.
According to the US Department of Agriculture, Africa's rice demand in 2020 is estimated at 15.7 million tons, of which Senegal may have to import 1.3 million tons.
Some taxes in Senegal include paddy, paddy rice import tax is 7.7%, VAT is 18%; For white rice, brown rice imports tax is 12.7%, VAT is 18%; for broken rice, the import tax is 12.7% and the VAT is 18%; Other types of rice import tax is 12.7%, VAT is 18%.
According to Economy & Consumer
