Việt Nam’s rice industry reached new heights in 2024, achieving record-breaking export volumes and values.
With 9 million tonnes of rice exported, generating a remarkable $5.7 billion, the industry saw an 11% growth in volume and a 24% increase in value compared to 2023. Notably, average export prices exceeded $600 per tonne, a historical high!
However, the road ahead in 2025 presents challenges.
India has resumed non-basmati white rice exports, significantly increasing global supply. Việt Nam’s rice exporters are already feeling the pressure, with December prices dropping to their lowest levels in 19 months.
Key factors shaping the market:
✅ Philippines as a top buyer: Accounting for 40% of Việt Nam’s rice exports in 2024.
✅ Focus on high-quality rice: A strategic shift toward fragrant and premium varieties.
✅ Sustainability efforts: Promoting high-quality rice plantation areas and sustainable agriculture models.
Looking forward
Việt Nam’s rice industry must stay competitive by:
1️⃣ Leveraging Free Trade Agreements (FTAs) to expand into new markets.
2️⃣ Enhancing rice quality and building strong brands.
3️⃣ Providing timely market updates and financial support to exporters.
Despite intensified competition, Việt Nam has the opportunity to differentiate through quality and innovation.
Let’s see how the rice sector adapts to navigate these challenges in 2025!
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