Vietnam’s Rice Export Prices Hit Lowest in 19 Months
Drop attributed to reduced demand from the Philippines, Vietnam's largest rice importer.
Vietnam’s five-percent broken rice export price dropped by $17 to $485 per metric ton on Wednesday, marking the lowest price in 19 months, according to the Vietnam Food Association. In comparison, Thailand, India, and Pakistan priced their five-percent broken rice at $501, $449, and $452 per metric ton, respectively.
Prices for Vietnam’s 25-percent and 100-percent broken rice also decreased by $11 and $17, reaching $459 and $388 per metric ton, respectively. Exporters have pointed to the Philippines' suspension of rice imports from Vietnam as the main reason behind the decline.
The Philippines remains Vietnam's largest rice buyer, importing 3.3 million metric tons this year, accounting for 77% of Vietnam’s rice exports. However, the Philippines Department of Agriculture reported that the country has six million rice bags in storage, which are now being sold domestically at below-market prices to prevent spoilage.
Vietnam has exported around nine million metric tons of rice in 2024, earning $5.8 billion. Looking ahead, the US Department of Agriculture forecasts that the Philippines will import 4.5 million metric tons of rice in 2025, highlighting ongoing challenges and opportunities for Vietnam’s rice sector.
---
Prices for Vietnam’s 25-percent and 100-percent broken rice also decreased by $11 and $17, reaching $459 and $388 per metric ton, respectively. Exporters have pointed to the Philippines' suspension of rice imports from Vietnam as the main reason behind the decline.
The Philippines remains Vietnam's largest rice buyer, importing 3.3 million metric tons this year, accounting for 77% of Vietnam’s rice exports. However, the Philippines Department of Agriculture reported that the country has six million rice bags in storage, which are now being sold domestically at below-market prices to prevent spoilage.
Vietnam has exported around nine million metric tons of rice in 2024, earning $5.8 billion. Looking ahead, the US Department of Agriculture forecasts that the Philippines will import 4.5 million metric tons of rice in 2025, highlighting ongoing challenges and opportunities for Vietnam’s rice sector.
---
