Vietnam’s Rice Exports Expected to Rebound as Demand Surges
Although rice prices remain steady due to abundant supply, experts predict a market rebound in the near future, driven by strong international demand.
Vietnam aims to maintain its rice export target of 7.8 million tonnes in 2025 while focusing on high-quality rice to secure strong profits for businesses and farmers. To achieve this, Duy urged exporters to expand their global presence, particularly in high-potential markets such as the US, EU, Middle East, and Africa.
Thướng advised Vietnamese exporters to enhance their global competitiveness by:
Strong Demand Supports Export Growth
According to Đỗ Hà Nam, Vice Chairman of the Việt Nam Food Association (VFA), Việt Nam exported over one million tonnes of rice in the first two months of the year, reflecting persistent global demand. The ongoing winter-spring harvest, known for producing the highest-quality rice, is a key buying period for importers. Missing this season could create challenges in securing sufficient supplies later.- Subramanian, co-founder of SSricenews—a specialized rice market platform—highlighted increasing demand from Malaysia, China, and Africa. Buyers in these regions are ramping up purchases, signaling a potential trade boom in the coming months.
Government and Industry Efforts to Stabilize the Market
Minister of Agriculture and Environment Đỗ Đức Duy stated that the current market phase represents a normal adjustment in commodity prices. The Government continues to monitor developments and implement policies to stabilize supply and demand.Vietnam aims to maintain its rice export target of 7.8 million tonnes in 2025 while focusing on high-quality rice to secure strong profits for businesses and farmers. To achieve this, Duy urged exporters to expand their global presence, particularly in high-potential markets such as the US, EU, Middle East, and Africa.
Export Strategy and Market Expansion
To strengthen the rice export sector, the Government is encouraging businesses to:- Comply with export regulations and boost production capacity.
- Build stronger links between farmers, purchasing enterprises, and exporters.
- Invest in warehouse infrastructure and logistics systems.
- Increase temporary rice purchases to ensure a steady supply for export.
Global Rice Market Trends and Price Stability
Vietnamese trade counsellor in India, Bùi Trung Thướng, reported that rice prices have stabilized between USD 390-420 per tonne, a significant drop from last year’s peak of USD 700 per tonne. He attributed this stability to:- A 10-million-tonne projected increase in global rice production.
- Expanded use of rice in ethanol production and industrial applications.
- Steady demand, as nearly 50% of the global population depends on rice as a staple food.
Thướng advised Vietnamese exporters to enhance their global competitiveness by:
- Diversifying markets and sales channels.
- Developing high-quality rice varieties.
- Strengthening branding through geographical indications.
- Reducing reliance on government-to-government deals and expanding into private sector trade.
