Currently, the country’s 5% broken rice is priced at US$399 per tonne, higher than that of other major exporters in the region and around the world. Meanwhile, 25% broken rice is being traded at US$370 per tonne, which is US$5 lower than Thailand’s but still US$4 and US$11 higher than that of India and Pakistan, respectively.

The price rebound is largely attributed to the return of many importers to the market after a period of waiting for price adjustments from key suppliers such as Vietnam, India, and Thailand.

Nguyen Van Thanh, Director of Phuoc Thanh IV Company Limited in Vinh Long province, noted that numerous foreign traders have reached out to negotiate prices. However, the company is not rushing into new contracts, anticipating further positive developments in the market.

Experts emphasize the importance of market diversification and product restructuring, focusing on increasing the share of fragrant rice, Japonica rice, specialty rice, and high value-added products. This strategy is expected to help Vietnamese rice strengthen its position amid global market fluctuations.

In the first quarter of this year, Vietnam exported 2.2 million tonnes of rice worth US$1.14 billion, representing a 0.6% increase in volume but a 19.7% decrease in value year-on-year.

The Philippines remains the largest importer of Vietnamese rice, making up 42.1% of total exports, while the Ivory Coast and Ghana followed with 16.3% and 10.2% of the market share.

Vietnamese rice gains popularity among Japanese consumers

Japanese consumers are increasingly turning to Vietnamese rice as an alternative to domestic varieties, thanks to its comparable quality and lower price.