Rice and rice prices continue to decrease
From the end of 2024 to around the end of February 2025, domestic rice prices and export rice prices have continuously decreased. The Ministry of Agriculture and Environment said that rice exports in the first two months of 2025 increased by 5.9% compared to the same period last year, but the value decreased sharply by 13.6%. The average export price reached only 553.6 USD/ton, down 18.3% over the same period in 2024.
Data from the Department of Agriculture and Environment of An Giang province on March 11 shows that the price of fresh rice currently fluctuates at 5,000 - 9,200 VND/kg depending on the type. Of which, Japanese rice reached the highest price of 7,800 - 8,000 VND/kg, while OM 380 rice had the lowest price, only 5,000 - 5,200 VND/kg. The price of raw and finished rice also tends to decrease sharply. IR 50404 raw rice ranges from 8,150 - 8,200 VND/kg, OM 18 raw rice ranges from 9,300 - 9,500 VND/kg.
In the export market, the Vietnam Food Association (VFA) said that the price of 5% broken rice is at 390 USD/ton, 25% broken rice is at 364 USD/ton, while 100% broken rice is only at 307 USD/ton, this is the lowest level in many years.
Many supermarkets have sharply discounted rice
Recorded at GO supermarket! Thang Long (Trung Hoa - Cau Giay - Hanoi) on March 11, many types of rice are applying deep discounts. Neptune Thom ST25 Special 5kg rice decreased from 211,300 VND/bag to 134,500 VND/bag, applicable until March 12, 2025. Bao Minh ST25 3kg rice decreased from 138,900 VND/bag to 99,500 VND/bag. ST25 Rice 5kg Shrimp Rice was previously priced at 229,900 VND/bag, now down to 190,900 VND/bag. The 10 types of 1kg grain mixed brown rice were also adjusted from 79,900 VND/bag to 58,400 VND/bag.
In addition to discounted products, some types of rice here still maintain the listed level. ST25 Shrimp Rice 5kg continues to be sold at VND205,000/bag, while ST25 Simply 1kg fragrant brown rice costs VND52,900/bag.
At Winmart supermarket (Yen Hoa ward, Cau Giay district, Hanoi), rice prices have also been adjusted to stimulate consumption. On March 11, Bao Minh Red Thai Rice lost 3kg slightly from 87,000 VND to 86,000 VND. Vinaseed 2kg yellow sticky rice is adjusted from 94,100 VND to 81,900 VND/bag. 3kg of Vinazed PVT fragrant rice decreased from 93,000 VND to 86,000 VND/bag. Ngoc Nuong specialty ST25 rice at 3kg was also reduced from 123,000 VND to 97,900 VND/bag.
Proposal for solutions to stabilize rice exports
In the face of sharp decline in export rice prices, VFA has proposed that the Ministry of Industry and Trade activate rice export floor prices according to Decree 107/2018/ND-CP, with a suggested price of 500 USD/ton. According to VFA, applying floor prices helps prevent unfair competition between businesses, while ensuring the value of Vietnamese rice in the international market.
VFA also proposed that the State Bank provide a low-interest credit package, extending the borrowing period so that businesses can store rice instead of having to sell it massively at low prices. This helps businesses proactively regulate the amount of export goods, avoiding being forced to price by competitors in the international market.
Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan said that the Ministry is studying a plan to apply floor prices to stabilize domestic rice prices. At the same time, the Ministry also promoted negotiations with potential markets to expand outputs for Vietnamese rice exports. Currently, the Ministry of Industry and Trade has deployed many trade promotion teams in traditional export markets such as the Philippines, Indonesia and China.
The State Bank has also directed commercial banks in the Mekong Delta region to proactively balance capital sources, ensuring the demand for loans of farmers and businesses producing, processing, purchasing and temporarily storing rice. This is to avoid the situation where businesses have effective production plans but cannot access loans due to cumbersome procedures...
