The Vietnamese rice export industry has seen impressive growth recently. In the first quarter of 2025 alone, Vietnam exported more than 2.25 million tons of rice, an increase of 2.2% compared to the same period in 2024.
According to the Ministry of Agriculture and Rural Development, rice exports in March 2025 are estimated to reach 950,000 tons, worth about 463.6 million USD.
In the first three months of the year, Vietnam exported 2.2 million tons of rice, worth 1.14 billion USD. This was an increase of 0.6% in volume but a significant decrease of 19.7% in value compared to the same period in 2024.
The average export price of rice in the first three months was estimated at 522.1 USD/ton, a decrease of 20.1% compared to the same period last year.
The Vietnam Food Association (VFA) said that the current low prices are concerning. From 2016 to 2022, the export price of Vietnam’s 5% broken rice always fluctuated between 420 and 535 USD/ton. In 2023, the export price of rice increased due to India’s halt on rice exports, causing the price of Vietnam’s 5% broken rice to reach its highest level in 15 years (since 2008) at 663 USD/ton in November 2023. By now, the export price of Vietnam’s ordinary rice has decreased by 264 USD, equivalent to 40% compared to the end of 2023.
Vietnam exported 2.2 million tons of rice in the first quarter of 2025.
However, fragrant and high-quality rice still has its market, so the prices of these types have not decreased. Many businesses are exporting fragrant rice and specialty rice at prices of 800–1,200 USD/ton. Currently, there are many contracts for exporting specialty rice ST25 at over 1,000 USD per ton.
Although the export price of ordinary rice fell below 400 USD/ton in January 2025, the average export price for the month remained above 600 USD/ton, thanks to the demand for fragrant and specialty rice.
In the first quarter, the Philippines was the largest rice-consuming market for Vietnam, with a market share of 42.1%. Ivory Coast and Ghana were the next two major markets, with market shares of 16.3% and 10.2%, respectively.
The Ministry of Agriculture and Environment reported that in the past 3 months, the rice trade surplus reached 454.7 million USD, a decrease of 49.5%. However, rice is one of the top five agricultural products that recorded the highest surplus in the past three months.
The Vietnamese rice export industry has seen impressive growth recently, as proved by the continuously increasing production and revenue. From 6 million tons in previous years, rice exports increased to 7.5 million tons in 2022 and reached a record 9.18 million tons in 2024, bringing in revenue of over 5.7 billion USD. In the first quarter of this year, Vietnam’s rice exports continued to increase by 2% compared to the same period in 2024.
The chairman of the VFA also said that in the coming years, the rice industry aims to continue improving the quality and value of rice exports, reducing the proportion of low- and medium-grade white rice to no more than 10% by 2030, while increasing the proportion of fragrant rice, Japonica rice, and specialty rice to about 45%.
However, to achieve this goal, the VFA recommends that the relevant ministries and sectors support the establishment of raw material regions, research and develop high-quality rice varieties, promote trade, create favorable conditions for capital and tax refunds for businesses, upgrade logistics infrastructure, and plan regions for high-quality rice cultivation in localities. The VFA representative also emphasized the necessity of expanding export markets but highlighted the need for stable strategies for each specific market.