MOIT outlines five solutions to boost rice exports and stabilize market

On September 10, the Ministry of Industry and Trade (MOIT) held a conference on promoting production, export, and stabilizing the rice market.

The conference gathered representatives from government agencies, including the Government Office, the Ministries of Agriculture and Environment, Finance, Foreign Affairs, and the State Bank of Vietnam, along with relevant units under the Ministry of Industry and Trade. On the business side, the Vietnam Food Association and around 20 major rice exporters with high export turnover were present.

Minister Nguyen Hong Dien emphasized that rice is not only an essential commodity but also of strategic importance. For nations unable to secure self-sufficient production or facing political and social instability, rice is regarded as a national security factor.

Before 1986, rice was the foundation of Vietnam's economic and political security. Today, rice exports reach tens of millions of tons annually, generating billions of USD, creating livelihoods for millions of farmers, and affirming Vietnam’s position on the global food map.

Given that major markets like the Philippines and Indonesia have temporarily halted imports, the Prime Minister issued Directive 160, calling for comprehensive measures to ensure production, exports, and market regulation. This conference was convened to address difficulties, expand markets, and avoid overdependence on traditional partners.

Industry representatives raised concerns regarding capital, logistics, and import-export procedures, calling for timely state support to balance the interests of government, businesses, and farmers. Trade counselors noted that emerging markets such as Senegal, Bangladesh, and African nations present high demand, opening opportunities for export diversification.

Deputy Minister of Agriculture and Environment Tran Thanh Nam noted that the summer-autumn harvest will be completed by mid-September, while the autumn-winter season peaks in November–December. The ministry’s goal is to avoid bottlenecks, maintain a high-quality rice structure, and secure supply for both domestic consumption and exports.

He highlighted the push for production linkages and scaling up high-quality rice models under the one-million-hectare high-quality, low-emission rice program in the Mekong Delta.

Currently, Vietnamese rice is present in nearly 100 countries and territories. According to the Deputy Minister, the Australian market values Vietnamese rice quality, while many African countries are eager to import, showing strong potential beyond traditional markets. “The key is to produce based on demand, reduce costs, and enhance competitiveness. Only then can Vietnam’s rice market withstand fluctuations,” he said.

At the conference, agribusinesses noted that the Philippines’ temporary suspension created pressure on domestic supply-demand and pricing, though this is expected to be short-term. The Philippines favors Vietnamese rice and usually increases imports by year-end, indicating that demand remains strong.

In the meantime, many companies are shifting toward African markets while continuing to buy summer-autumn rice to support farmers.

Several enterprises stressed the role of national reserves, calling it an immediate lever to stabilize prices and help farmers sell rice during tough times. Some are already planning to store hundreds of thousands of tons and are prepared for further temporary reserves if necessary. However, large inventories remain a challenge, while exports are only forecast to recover from November.

In the long term, businesses urged expanding high-quality rice acreage, leveraging free trade agreements to build branding, and diversifying markets to reduce reliance on a few traditional partners.

Summarizing the discussions, Minister Nguyen Hong Dien stated that in the first eight months of 2025, Vietnam exported 6.3 million tons of rice, up 2% year-on-year, fulfilling nearly 80% of the annual plan. Vietnamese rice not only maintained its presence in traditional markets but also expanded into the Middle East, Africa, and West Asia. However, he cautioned against complacency, stressing the need to diversify products, improve quality, and strengthen Vietnamese rice branding.

The Minister proposed five key solution groups. First, ministries should continue monitoring and advising on the Philippines and Indonesia markets while accelerating trade negotiations with potential regions. Second, the Ministry of Finance and the State Bank of Vietnam should expedite tax refunds, provide credit access, and increase national reserves. Third, he suggested that the Government and National Assembly consider preferential financing mechanisms and logistics support for businesses. Fourth, industry associations should enhance market information and encourage members to comply with policies. Fifth, enterprises must uphold quality, conduct market research, promote branding, and actively seek new partners, especially in Africa, the Middle East, and South Asia.

“We must both consolidate traditional markets and open new ones, not only to ensure immediate trade but also to elevate the standing of Vietnamese rice on the international stage,” Minister Nguyen Hong Dien emphasized.