According to the dispatch dated March 4, global rice trade has become complex in the first months of 2025, with the world supply surplus. The import demand of many countries is declining, and there are no signs of recovery in the short term, prompting major importing markets to be cautious about rice stockpiling and purchasing.

Meanwhile, Vietnam’s rice export showed a downward trend in the reviewed period due to the continuous decrease in export prices. Domestically, Mekong Delta provinces are currently harvesting the Winter-Spring rice crop, resulting in a significant reduction in the rice purchase price compared to the same period in 2024.

To promote sustainable rice production and export activities, and seize export opportunities, the Prime Minister has instructed relevant ministries, agencies, and localities to closely monitor and update the fluctuations in policies and market trends of exporting and importing countries, and come up with solutions, to cushion the impact on rice production and export.

Accordingly, the Ministry of Agriculture and Environment (MoAE) will work closely with other ministries, agencies, and localities to closely track global rice market developments, particularly the policy adjustments in major rice-exporting countries like India and Thailand. It will monitor import demand in markets with significant potential such as the United States, Japan, and Africa, providing timely updates to localities and enterprises to adjust production and export plans in line with market conditions.

In the long term, the MoAE will focus on researching and improving the structure of rice production and product quality, with an emphasis on high-quality and specialty rice varieties. The ministry will also invest in the application of modern technology, research, and breeding to develop rice varieties resistant to drought, salinity, and pests, in response to climate change and natural disasters. In addition, efforts will be made to enhance deep processing to create value-added products, specialty, and organic rice.

Meanwhile, the Ministry of Industry and Trade (MoIT) will intensify trade promotion efforts to boost exports to major and potential markets with significant room for growth in various product segments of Vietnamese rice, such as the United States, the EU, Japan, China, the Middle East, Africa, and ASEAN. These efforts will be carried out through free trade agreements or bilateral agreements, aiming to diversify markets and reduce dependency on traditional importing countries.

Furthermore, the MoIT will provide guidance and information to businesses on optimal export times based on price competitiveness in international markets. It will also enhance efforts to promote domestic rice consumption, paying attention to national trade promotion programmes, product development training, and packaging design activities, aiming to diversify rice products for both domestic consumption and export.

The PM has also requested the Ministry of Finance, the Ministry of Foreign Affairs, and the State Bank of Vietnam to work alongside the designated ministries, agencies and localities to undertake the assigned tasks.

Vietnamese rice export prices take a steep dive in early 2025

VOV.VN - After remaining high for an extended period, Vietnam's 5% broken rice export price dropped to US$399 per tonne in early 2025, falling below that of regional competitors such as Thailand, India, and Pakistan, according to the Vietnam Food Association (VFA).