EU set tariffs on Myanmar and Cambodia rice for 3 years

The European Union will start imposing tariffs on rice from Myanmar and Cambodia for three years start from January 18, 2019. For the first year, EU will set duty 175 euros per ton of rice, second year will be 150 euros and the third year will be 125 euros.

After a request from the Italian government, EU launched “safeguard” investigation on March last year. Investigation confirmed that Indica rice (longer- grain) which comes from Myanmar and Cambodia ruined EU producers (eight southern European countries (Portugal- Bulgaria)).

Import rate of Indica rice from Myanmar and Cambodia had increased by 89% in past five rice growing seasons and it made EU producers’ market share lower to 29% from 61%.

Source- Reuters