According to the Ministry of Agriculture and Environment, Vietnam exported around 700,000 tonnes of rice in June, earning $364.4 million.

Overall, the country shipped 4.9 million tonnes of rice in the first six months of this year, valued at $2.54 billion, up 7.6 per cent in volume but down 12.2 per cent in value compared to the same period last year.

The average export price was estimated at $517.5 per tonne during the period, a sharp decline of 18.4 per cent on-year. The ministry attributed this significant price drop largely to the return of India, which restricted its rice exports during 2022-2023 to ensure domestic food security.

Ample global supplies have placed downward pressure on rice prices worldwide, preventing Vietnamese rice from maintaining the high price levels recorded in 2024, when the country achieved record-breaking results in both volume and value, reaching nearly $5.8 billion from exports of nine million tonnes.

Vietnamese rice exporters are also facing growing competition from major suppliers, such as Thailand, Myanmar, and Pakistan.

The Philippines remained Vietnam’s largest rice importer, accounting for 43.4 per cent of total shipments. The Ivory Coast and Ghana followed, with market shares of 10.7 and 10.5 per cent, respectively.

However, rice export value to the Philippines fell by 17.4 per cent, while exports to the Ivory Coast and Ghana surged by 88.6 and 61.4 per cent, respectively.

Among the top 15 markets, Bangladesh posted the strongest growth, with the export value soaring 293.2 times, whereas Malaysia saw the sharpest decline of 54.7 per cent.

Source: VnEconomy