Vietnamese export rice prices drop to 399 USD per ton

The current rice export price is 32 USD lower than the same type of Thai rice, 14 USD lower than Indian rice, and 5 USD lower than Pakistani rice. This is considered an unprecedented decline, as Vietnam’s export rice prices previously ranged between 420 and 535 USD per ton. Compared to the peak of 663 USD per ton at the end of November 2023, the current price has dropped by 264 USD, representing a decrease of 40%.

In addition to the 5% broken rice variety, the export price for Vietnam’s 25% broken rice has decreased to 371 USD per ton. On the other hand, the same type of rice from Thailand, India, and Pakistan is priced at 410 USD, 394 USD, and 377 USD per ton, respectively.

In early February 2025, Vinafood 2 won a bid to supply approximately 100,000 tons of 5% broken winter-spring rice to the Bangladesh Directorate General of Food at a CIF price of 474.25 USD per ton, which is equivalent to an FOB price of 400 USD per ton at Ho Chi Minh City ports.

Dinh Ngoc Tam, Deputy General Director of Co May Company, noted that the increase in supply, driven by India’s return to the market and high global rice stockpiles, has stimulated a decline in Vietnam’s rice export prices. India currently holds a record-high rice reserve, but its wheat stockpile is below the five-year average.

The Director of VFA noted that rice prices are currently adjusting according to supply and demand; however, fragrant rice and high-quality rice will continue to have their own market, remaining less affected by the overall price decline.

According to the Ministry of Agriculture and Rural Development, Vietnam exported approximately 500,000 tons of rice in January 2025, achieving a total revenue of 308 million USD. This figure represents a 1% increase in volume but a decrease of 10.4% in value compared to the corresponding period in 2024