Vietnam’s Agricultural Sector: July Report on Rice Exports

The Ministry of Agriculture and Environment has released its July and seven-month report detailing the performance of Vietnam’s agricultural, forestry, and fisheries sectors for 2025. This report provides critical insight into the production, trade, and overall market trends that shape Vietnam’s economy.

Rice: A Key Player in Export Earnings

Rice continues to be a cornerstone of Vietnam’s agricultural exports, ranked among the top five earners during the first half of 2025. In July alone, Vietnam exported an impressive 750,000 tons of rice, generating a revenue of $366.1 million. This brings the total rice export volume for the first seven months of the year to 5.5 million tons, valued at a significant $2.81 billion.

Year-on-Year Trends: A Mixed Bag

When comparing this year’s figures to those of the previous year, the statistics reveal a complex picture. While rice export volume saw a modest increase of 3.1%, the overall export value took a notable hit, decreasing by 15.9%. The primary culprit behind this decline is a dramatic drop in average export prices, which fell by 18.4% year-on-year, settling at approximately $514 per ton.

Key Export Markets: Navigating Shifts

In terms of export markets, the Philippines has maintained its position as Vietnam’s largest rice importer, accounting for 42.6% of the country’s rice export revenue in the first half of the year. However, even this dominant market has experienced a decline, with export revenue from the Philippines dropping by 13.5% year-on-year.

Interestingly, other markets have shown significant growth. Exports to Ghana surged by an impressive 53.5%, while shipments to the Ivory Coast almost doubled, marking a 96.6% increase. Among the 15 largest export markets, Bangladesh stood out with a staggering growth in export value—an increase of 188.2 times compared to last year. On the flip side, Malaysia faced the steepest drop, witnessing a downturn of 58.5%.

The Import Surge: Contrasting Trends

In a noteworthy twist, Vietnam has also seen a significant increase in rice imports, which starkly contrasts with the slowdown in its exports. During the first half of 2025, the country’s rice imports reached an impressive $1 billion, marking a 31.4% rise compared to the $761 million recorded in the same period last year. This milestone signifies only the second time in history that Vietnam’s rice imports have crossed the $1 billion mark.

Global Pricing Overview: A Decline in Rice Prices

The concurrent decline in exports and the spike in imports occur within a context of falling global rice prices. As of July 29, the price for Vietnam’s 5% broken rice was recorded at $382 per ton. This price is notably competitive, with Thailand, India, and Pakistan’s rice prices hovering slightly lower at $375, $377, and $376 per ton, respectively.

Trade Surplus: A Silver Lining

Despite the mixed outcomes in export revenue and the increase in imports, the Ministry of Agriculture and Environment has highlighted that rice continues to be one of the top six agricultural products contributing to Vietnam’s trade surplus over the past seven months. This positive note underscores the resilience of Vietnam’s rice sector amid challenging global market conditions.

In summary, the latest report from the Ministry of Agriculture and Environment paints a complex but intriguing picture of Vietnam’s rice sector, characterized by both challenges and opportunities. The future of rice exports will likely hinge on market dynamics and global price trends in the months to come.