Vietnam’s Rice Paradox: Exports Slow Down as Imports Soar Past $1 Billion

In a surprising turn amid falling global rice prices, Vietnam’s rice trade landscape is showing a stark contrast: while exports have slowed, imports surged, surpassing $1 billion in just the first 7 months of 2025.

Rice Exports Drop in Value Despite Volume Growth

According to the latest report from the Ministry of Agriculture and Environment, Vietnam exported approximately 750,000 metric tons of rice in July 2025, earning $366.1 million. Cumulatively, in the first seven months of the year, rice exports reached 5.5 million tons, valued at $2.81 billion.

Compared to the same period in 2024, export volume rose by 3.1%, but the overall value fell sharply by 15.9%. The main reason? A significant drop in the average export price, which declined to $514 per ton, down 18.4% year-on-year.

Among key export markets, the Philippines remained the top buyer, accounting for 42.6% of Vietnam’s total rice export revenue. However, sales to the Philippines fell by 13.5%. In contrast, African markets like Ghana and Ivory Coast saw impressive growth, with increases of 53.5% and 96.6%, respectively.

Notably, exports to Bangladesh skyrocketed, growing by 188 times, while exports to Malaysia suffered the steepest decline, down 58.5% year-on-year.

Rice Imports Surge to Second-Highest Level in History

Contrary to the slowdown in exports, Vietnam's rice imports surged by 31.4% compared to the same period last year, reaching $1 billion — the second-highest import value ever recorded in Vietnam's rice trade history. In 2024, the figure stood at $761 million.

This surge comes amid a steep drop in global rice prices, which Vietnamese businesses are capitalizing on to increase domestic reserves and processing inputs. According to the Vietnam Food Association (VFA), as of July 29, Vietnam’s 5% broken rice was priced at $382 per ton, while similar grades from Thailand, India, and Pakistan were priced at $375, $377, and $376 per ton, respectively.

Despite Trade Fluctuations, Rice Remains a Key Export Surplus Commodity

Despite the sharp rise in imports and decline in export value, rice remains one of Vietnam’s top six agricultural export surplus commodities, according to the Ministry.

This underscores the enduring competitiveness of Vietnamese rice in global markets — even as price volatility and shifting demand patterns continue to challenge exporters.

Conclusion

The current scenario — where global rice prices plummet, exports decelerate, and imports soar — highlights a strategic pivot among Vietnamese firms: importing while prices are low to secure supply and prepare for potential rebounds in international demand.

Moving forward, stabilizing export prices, diversifying markets, and improving logistics efficiency will be crucial to maintaining Vietnam's rice sector competitiveness in the global arena.