1. Vietnam Reviews Rice Production and Consumption in the Mekong Delta
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On March 4, 2025, in Hanoi, the Ministry of Agriculture and Environment held a meeting to assess rice production and consumption in the Mekong Delta.
Rice Prices Inch Up but Challenges Persist
According to the ministry, in February 2025, Vietnam’s rice exports were estimated at 560,000 tons, worth USD 288.2 million.
For the first two months of the year, exports reached 1.1 million tons, worth USD 613 million, up 5.9% in volume but down 13.6% in value year-on-year.
Since the end of 2024, rice prices have dropped sharply. At the beginning of 2025, exports slowed and prices continued to fall as global supply surged while import demand from major buyers like the Philippines and Indonesia weakened. These countries stocked up heavily in 2024 and are now waiting for prices to drop further before resuming imports.
The Philippines remains Vietnam’s largest rice market, accounting for 38.6% of total exports, followed by Côte d’Ivoire (15.9%) and Ghana (12.3%).
However, exports to the Philippines fell 35.5%, while exports to Côte d’Ivoire rose 8.6 times and to Ghana 4.1 times. Notably, shipments to Turkey surged 600-fold, while exports to Cambodia dropped 39.3%.
At the meeting, Ngô Hồng Phong, Director of the Department of Quality, Processing and Market Development, said that in 2025, the total rice cultivation area is projected at 7.03 million hectares, with an average yield of 6.16 tons/ha, producing 43.14 million tons — down 323,000 tons from 2024.
Experts noted that the main reason for falling rice export prices is oversupply. After two years of tight control, India has eased its rice export restrictions, boosting global supply and increasing competition for exporters like Vietnam, Thailand, and Pakistan.
Vietnam’s production–procurement–processing–export chain remains fragile, leaving farmers and enterprises vulnerable to market fluctuations.
Although rice export prices in March 2025 have inched up slightly, the market remains volatile and is expected to face continued headwinds this year.
2. Proposed Solutions to Support the Rice Sector
Curbing Speculation and Unfair Pricing
Ngô Công Thức, Vice-Chairman of the An Giang Provincial People’s Committee, proposed that the Government and central ministries attract investment from major corporations into agricultural production and rice consumption to form stable supply chains.
He also called for stronger incentive policies to encourage enterprises to invest in agriculture and sign long-term export contracts with foreign partners.
Financial and Policy Support for Enterprises
Đỗ Hà Nam, Vice-Chairman of the Vietnam Food Association (VFA), suggested that the State Bank of Vietnam facilitate access to low-interest loans, increase credit limits, and extend loan terms to help businesses store rice and avoid forced sales during price declines.
The VFA also recommended that the Ministry of Industry and Trade establish a minimum export price (floor price) under Decree 107/2018/NĐ-CP, proposing USD 500 per ton (FOB). The association further called for tighter supervision of exporters, especially those engaged in pure trading without processing or production.
Trade Negotiations and Market Expansion
Deputy Minister of Industry and Trade Nguyễn Sinh Nhật Tân stated that the ministry will continue to negotiate new export markets and adjust export structures toward high-quality rice.
It is also studying the activation of an export floor-price mechanism while implementing Decree 01/2025/NĐ-CP, which amends Decree 107/2018/NĐ-CP on rice export management.
Enhancing Trade Promotion and Tax Support
Minister of Agriculture and Environment Đỗ Đức Duy requested relevant agencies to closely monitor market movements, strengthen trade promotion, and assist enterprises in timing exports during peak harvest periods.
He urged authorities to expedite VAT refunds, extend credit lines, and provide financial support packages for capable firms to stockpile rice when prices are low.
3. Strengthening Sustainable Production in the Mekong Delta
At the local level, the minister called on provinces to ensure production schedules are met, particularly during major harvests.
He emphasized expanding the implementation of the “One Million Hectares of High-Quality, Low-Emission Rice Associated with Green Growth in the Mekong Delta” Project.
The ministry will also coordinate with relevant agencies to inspect and penalize cases of market manipulation, price suppression, and speculative profiteering in the rice sector.
4. Outlook for 2025
Despite short-term challenges, Vietnam’s rice industry retains long-term growth potential, supported by strong government direction, expanding African markets, and ongoing reforms in production and export quality.
As policy coordination between ministries, banks, and enterprises strengthens, Vietnam’s rice brand is expected to consolidate its position as a top-tier exporter in Asia while ensuring domestic price stability and farmer livelihoods.