In a surprising contrast to declining rice exports, Vietnamese companies spent $1 billion importing rice over the past seven months, even as the country’s export revenue from this staple dropped sharply to $2.81 billion.

The Ministry of Agriculture and Environment has just released its July and seven-month report on agricultural, forestry, and fisheries production, trade, and market performance for 2025.

Rice remains one of the top five agricultural export earners during this period.

Preliminary statistics show that in July alone, Vietnam exported 750,000 tons of rice worth $366.1 million. This brought total rice exports in the first seven months of 2025 to 5.5 million tons, valued at $2.81 billion.

Compared to the same period last year, rice export volume rose by 3.1%, but export value dropped sharply by 15.9%. The primary cause was a significant decline in average export prices, which fell 18.4% year-on-year to just $514 per ton.

In terms of export markets, the Philippines remained Vietnam’s largest traditional customer, accounting for 42.6% of the country’s rice export revenue in the first half of the year. Ghana and Ivory Coast followed, with market shares of 11.1% and 10.6%, respectively.

Despite retaining the top position, rice export revenue from the Philippines fell by 13.5% year-on-year. In contrast, exports to Ghana surged 53.5%, and shipments to Ivory Coast nearly doubled with a 96.6% increase.

Among the 15 largest export markets, Bangladesh recorded the most significant growth, with export value increasing 188.2 times, while Malaysia saw the steepest drop at 58.5%.

What is especially noteworthy is the surge in rice imports, which sharply contrasts the export downturn. Imports reached $1 billion in the same period – a 31.4% increase from the $761 million recorded during the same time last year.

This marks only the second time in history that Vietnam’s rice imports have hit the $1 billion threshold.

The simultaneous decline in exports and spike in imports comes amid a steep drop in global rice prices.

According to the Vietnam Food Association, as of July 29, Vietnam’s 5% broken rice was priced at $382 per ton, slightly above prices from Thailand ($375), India ($377), and Pakistan ($376).

Despite falling exports and soaring imports, the Ministry of Agriculture and Environment noted that rice still ranks among the top six agricultural products generating the highest trade surplus for Vietnam over the past seven months.

Tam An

Published Date: August 6, 2025