ALTERNATION MECHANISM IN TRANSACTIONS OF EXPORTING RICE
This content is approved by the Ministry of Industry and Trade in the Circular No. 30/2018/TT-BCT dated October 01, 2018 on detailing a number of articles of the Government’s Decree No. 107/2018/ND-CP of August 15, 2018, on rice export.
n particular, this Circular prescribes about: Rice export transactions into markets with centralized contracts and the signing and performance of centralized contracts; Reporting regulations applicable to rice exporters.
Traders acting as the focal point under the alternation mechanism may directly export 20% of the quantity of rice to be exported under a centralized contract, in which:
The trader singing the centralized contract shall take charge of 2/3 of the 20% of the quantity of rice to be exported under the contract. Other traders that do not sign the centralized contract shall take charge the remaining 1/3 of the 20% of the quantity of rice to be exported under the contract.
This Circular takes effect on November 15, 2018.
