The price of Vietnamese 5% broken rice dropped to US$399 per tonne on February 6, down US$5 per tonne from the previous day, while 25% broken rice was priced at US$371 per tonne, a decrease of US$6 per tonne.

At US$399 per tonne, Vietnamese 5% broken rice is US$32 cheaper than the same variety from Thailand, US$14 lower than India's price, and US$5 below Pakistan’s, making it the lowest-priced export rice in the world.

The decline is largely attributed to India’s easing of export restrictions, which has increased global supply and intensified competition among exporting countries, including Vietnam.

In addition, demand from key importers such as the Philippines and Indonesia has weakened, as these nations stockpiled ample reserves in 2024.

According to the Ministry of Agriculture and Rural Development, Vietnam exported 500,000 tonnes of rice worth US$308 million in January, marking a 1% rise in volume but a 10.4% drop in value year-on-year.

In 2024, the country shipped over 9 million tonnes of rice valued at nearly US$5.8 billion, cementing its position among the world’s top three rice exporters. The average export price for Vietnamese rice last year saw a notable increase, reaching US$627 per tonne.

However, from late 2024 into early 2025, export prices have dropped sharply due to shifting supply dynamics, changing consumption trends, and evolving trade policies.

With regard to the reversal of rice export prices, Tran Thanh Hai, deputy director of the Import-Export Department, pointed out that the decline in rice prices can be attributed to the fact that India lifted the ban on rice exports and removed export duties.

The global rice surplus is expected to put downward pressure on prices worldwide, affecting not only Vietnam but also key exporters such as Thailand and Pakistan, Hai said.

In 2025, Vietnamese rice exports are set to face fiercer competition than in 2024, with export prices unlikely to remain at high levels.

However, Hai emphasized that this is not a major concern, as Vietnamese enterprises have been enhancing rice quality and strengthening brand recognition, enabling them to sustain key markets like Indonesia and the Philippines.

The world’s abundant rice production will duly affect the global rice prices, including countries like Thailand and Pakistan, not just Vietnam, Hai noted. 

Industry experts predict that rice exports will face challenges this year, with Vietnam expected to export 7.5 million tonnes, a decline from last year’s record of over nine million tonnes.

Filipino importers delay purchases of 350,000 tonnes of Vietnamese rice

VOV.VN -Rice importers from the Philippines have delayed purchases of around 350,000 tonnes of rice from Vietnam and are renegotiating deals following a sharp decline in prices, according to Reuters.