1. Overview of Vietnam’s Rice Export Performance
Table of Contents
In the first two months of 2022, Vietnam exported 974,556 tons of rice, a year-on-year increase of 48.6%, earning USD 469.26 million (+30.6%).
The surge reflects strong recovery in global demand, favorable harvest conditions, and proactive purchasing from major importers.
2. Domestic Rice Price Movements in the Mekong Delta
According to the Vietnam Food Association (VFA), rice and paddy prices across the Mekong Delta climbed sharply after a brief pause.
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Paddy in field: up 79 VND/kg to an average of 5,507 VND/kg
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Paddy in warehouses: up 100 VND/kg to 6,520 VND/kg
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5% broken rice: 9,160 VND/kg (+14 VND/kg)
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15% broken rice: 8,958 VND/kg (+25 VND/kg)
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25% broken rice: 8,675 VND/kg (+33 VND/kg)
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Polished white rice (Grade 1): 9,200 VND/kg (+67 VND/kg)
Warehouse activity rose as traders purchased more raw rice, and demand for by-products such as broken rice and dried bran also increased, creating a vibrant trading atmosphere.
3. Harvest Progress and Key Rice Varieties
Roughly 30% of the winter–spring crop in the Mekong Delta had been harvested by early March 2022.
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Main harvested varieties: Dai Thom 8, OM 18
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Short-supply varieties: IR504, OM5154
4. Export Market Analysis
4.1 Philippines — Top Buyer
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Volume: 305,180 tons (USD 140.14 million)
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Change vs Jan 2022: +30.4% (volume), +27.2% (value)
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Change vs Feb 2021: +254.9% (volume), +203% (value)
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Average price: USD 464.3/ton (–14.6%)
The Philippines accounted for 55.3% of total export volume and 53.4% of export value, maintaining its position as Vietnam’s leading rice market.
4.2 China — Moderate Recovery
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Volume: 44,878 tons (USD 21.83 million) in February 2022
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Up 21.3% in volume vs January but down nearly 50% year-on-year
4.3 Côte d’Ivoire — Rising African Market
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Volume: 95,946 tons (USD 38.02 million)
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Up 205.7% in volume and 127.8% in value year-on-year
5. Export Prices and Global Comparison
By March 10, 2022, Vietnam’s 5% broken rice traded at USD 410–415/ton, up from USD 400 the prior week.
Comparable prices in competitor markets:
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Thailand: USD 415–428/ton — highest since June 2021
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India: USD 371–378/ton — highest since mid-June 2021
Price gains were driven by geopolitical tensions (Russia–Ukraine conflict), supply disruptions, and stronger Asian demand.
6. Logistics Costs and Supply Chain Factors
Freight rates surged since the conflict began:
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International shipping: +50%
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Domestic logistics: +70–80%
Despite higher costs, Vietnam benefited from reopened trade routes with China and new orders from importers seeking alternative sources of supply.
7. Market Outlook and Expert Forecasts
Industry analysts expect rice exports to rise sharply from March 2022, targeting:
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Philippines
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China
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African markets
The USDA forecasts global rice production at 509.9 million tons (milled basis, +2.6 million tons YoY) and consumption at 510.3 million tons (+7.8 million tons YoY), signaling robust global demand for rice and a positive outlook for Vietnam’s rice industry.
8. Conclusion
The strong start to 2022 underscores Vietnam’s resilience and competitiveness in the global rice export market.
With steady demand from Asia and Africa, combined with favorable domestic pricing, Vietnam’s rice exports are set for continued growth throughout 2022.