The recommendations were made following recent disadvantaged developments in the global rice market, especially the Philippines’ decision to suspend imports of regular rice for 60 days, starting on September 1.

Statistics show Vietnam exported 6.3 million tonnes of rice, earning US$3.17 billion in the first eight months of 2025, up 2.2% in volume but down 17.5% in export value. The average export price stood at US$504.9 per tonne, down 19.3% due to weakening global demand and stiff competition from major suppliers such as India, Thailand, and Pakistan.

The Philippines was Vietnam’s largest rice buyer, accounting for 42% of total export volume. However, the value of exports to this market fell by 16%, and the temporary suspension is expected to further strain exporters. Beyond revenue losses, the decision could also put pressure on domestic rice prices and supply balance.

In response, the MoIT has instructed its agencies, including the Vietnam Food Association (VFA), and rice exporters to closely monitor market trends at home and abroad for timely action; work with import partners to stay updated on policy changes and maintain stable export channels; and adjust production and business plans while diversifying markets.

It has asked its designated agencies to promote trade activities, both in-person and online, with a focus on new markets, free trade agreement (FTA) partners, and niche segments such as premium and fragrant rice.

Many experts and policymakers believed that despite current challenges, Vietnam still has significant opportunities to sustain growth in rice exports. Several international partners, including the United States, Singapore, and Brazil, have highly valued Vietnam’s role in the global rice supply chain, particularly in the high-quality rice segment.

Thus, while the Philippines remains an important rice importer, Vietnam can still seek and develop other potential markets. According to Minister of Industry and Trade Nguyen Hong Dien, regions such as Africa, the Middle East, South Asia, West Asia, and South America all represent promising destinations for Vietnamese rice. The Minister called on relevant agencies to provide timely information and market forecasts so that exporters have more options and avoid long-term dependence on a few major markets.

In a dispatch dated September 9, Prime Minister Pham Minh Chinh instructed the MoIT to coordinate with relevant ministries, agencies, and localities to diversify rice export markets to ensure stability, sustainability, and efficiency. He asked them to fully leverage FTAs, particularly with the European Union, the Republic of Korea, the United State, and North America, which have high demand for premium and fragrant rice.

In addition, the PM also emphasised the need to enhance market research, demand forecasting, and consumption trend analysis, and at the same time to consider negotiating preferential trade agreements with potential markets and utilize FTA reviews to seek higher export quotas for Vietnamese rice.

Vietnam is one of the world’s top three rice exporters, alongside India and Thailand. Despite short-term challenges, experts said Vietnam retains significant growth opportunities thanks to its strong reputation for high-quality, fragrant, and organic rice.

80 years on: Vietnam emerges from rice importer to Top 3 global exporter

VOV.VN - Eight decades after the devastating 1945 famine that claimed over 2 million lives, Vietnam has achieved a historic transformation to become one of the world’s top three rice exporters, with exports reaching around 9 million tonnes in 2024.