Record low export rice prices
Vietnam's rice exports in the first 2 months of 2025 decreased by 13.6% in value. The Ministry of Agriculture and Environment said that the rice export volume in February 2025 will reach about 560,000 tons with a value of 288.2 million USD, bringing the total volume and value of rice exports in the first 2 months of 2025 to 1.1 million tons and 613 million USD, an increase of 5.9% in volume, but a decrease of 13.6% in value compared to the same period in 2024.
Currently, the Philippines is the largest rice consuming market in Vietnam with a market share of 38.6%. Coastal Vietnam and Myanmar are the next two major markets with market share of 15.9% and 12.3%, respectively.
Compared to the same period last year, the value of rice exports in January 2025 to the Philippines decreased by 35.5%, while the Ivory Coast market increased by 8.6 times, the Ghana market increased by 4.1 times.
Latest update from the Vietnam Food Association, the export price of 5% broken rice from Vietnam continues to decrease by 3 USD/ton, down to only 390 USD/ton. This is also the lowest price recorded in the past 3.5 years, since September 2021.
Meanwhile, the price of 5% broken rice from other leading exporting countries remains stable compared to the previous day. Thailand's 5% broken rice is at the highest level of 415 USD/ton, followed by similar products from India at 405 USD/ton and Pakistan at 380 USD/ton.
Not only 5% broken rice, other types of rice including 25% broken rice and 100% broken rice in our country are much lower than Thailand and India.
Solutions to help the rice industry overcome difficulties
Minister of Agriculture and Environment Do Duc Duy said that there should be short-term and long-term solutions to deal with immediate difficulties, while maintaining sustainable development of the rice industry in the future.
The leaders of the Ministry of Agriculture and Environment proposed 5 solutions. First, improve production structure and product quality. Second, increase deep processing and diversify products, convert from raw export to deep processing products.
Third, increase investment in infrastructure and logistics; thereby, improve the warehouse, storage, transportation and logistics system to reduce transportation costs and optimize the supply chain. Next, it is necessary to build a sustainable and environmentally friendly rice brand. Along with that, focus on developing demanding but potential markets such as Japan, Europe and the US.
Finally, expand and diversify the market by increasing exports to new markets such as the Middle East, Africa and high-quality markets. Promote negotiations on free trade agreements (FTAs) with these markets and build government-level cooperation agreements to take advantage of export opportunities.
According to the Minister of Agriculture and Environment, all proposed solutions need to be carefully calculated to ensure positive impacts, avoiding negative impacts, especially for farmers and the business community.
"We need to be cautious but must be decisive, quick but certain to be able to effectively respond to the current export market situation" - Minister Do Duc Duy shared at the conference on rice production and trading in the Mekong Delta region held at the Ministry of Agriculture and Environment on the morning of March 4.
