As of March 15, rice prices in Vietnam’s Mekong Delta provinces remain stable, while export rice prices continue to climb.
On the global market, Vietnam’s export rice quotations have increased by USD 5 per ton. Specifically, 5% broken rice is now priced between USD 413–418 per ton, up USD 5; 25% broken rice at USD 388–389 per ton, also up USD 5; 100% broken rice remains steady at USD 338–342 per ton; and Jasmine rice stands at USD 508–513 per ton.
Rising demand and the ongoing Russia–Ukraine conflict have driven more Asian buyers to place orders for Vietnamese rice.
According to data from the General Department of Vietnam Customs, in the first two months of 2022, Vietnam exported 974,556 tons of rice, up 48.6% year-on-year, earning nearly USD 469.26 million (up 30.6%), with an average export price of USD 481.5 per ton (down 12%).
The Vietnam Food Association (VFA) reported that Vietnam’s rice exports in 2022 were expected to reach 6.2–6.5 million tons, slightly higher than in 2020 and 2021, and export prices were showing an upward trend.
VFA also noted that Vietnam continues to maintain a strong export position as the rice industry improves in quality — with a higher proportion of fragrant rice and better yields.
Several exporters commented that China’s rice import demand is increasing due to rising domestic prices and unfavorable weather. This surge presents an opportunity for Vietnam in the coming months, as export prices are unlikely to decline amid high global demand. Many firms are accelerating raw material purchases to secure new export contracts.
The Ministry of Industry and Trade revealed that China’s rice import demand in 2021 reached its highest level in years and is expected to remain high in 2022, particularly for broken rice. Broken rice accounted for 52% of China’s total imports in 2021, up from 30% in 2020, and could rise to nearly 60% this year. With 4.6–4.8 million tons projected imports in 2022, China is expected to remain the world’s largest rice importer.
Other key export markets such as the Philippines, Malaysia, the U.S., Africa, and South Korea have also seen rising demand. Meanwhile, rice exports to Europe are expected to grow sharply this year thanks to the EU–Vietnam Free Trade Agreement (EVFTA) and current global geopolitical tensions — a major opportunity for Vietnam’s rice industry.
Before the EVFTA took effect, Vietnam’s rice exports to the EU faced tariffs of up to 45%, and in some member states, even 100% or higher. Under the EVFTA, Vietnam now enjoys 0% tariffs on 80,000 tons of rice per year (30,000 tons of milled rice, 20,000 tons of paddy, and 30,000 tons of fragrant rice).
Additionally, the EU will completely liberalize trade in broken rice after five years, allowing Vietnam to export about 100,000 tons of broken rice annually to the EU. Many Vietnamese enterprises are now focusing on producing high-quality varieties (fragrant, long-grain, and specialty rice) for premium markets.
Although rice is not a staple food in the EU, there is growing demand for nutritional and health-focused rice products, driven by the rising popularity of Asian cuisine. The EVFTA gives Vietnam a significant competitive advantage over rivals such as Thailand and China, which do not have FTAs with the EU.
According to the U.S. Department of Agriculture (USDA), global rice production for the 2021–2022 season is forecast to reach a record 509.9 million tons (milled) — down 0.9 million tons from the previous forecast but up 2.6 million tons from 2020–2021.
Global rice consumption is projected at a record 510.3 million tons, slightly down 0.6 million tons from earlier projections but up nearly 7.8 million tons year-on-year.
USDA also forecasts global rice trade in 2022 at 49.5 million tons (milled) — up 0.7 million tons from previous estimates but down 2% from last year’s record, mainly due to reduced imports from Bangladesh and Vietnam of Indian rice.
Domestic Market:
As of March 15, paddy and rice prices in the Mekong Delta remain steady.
-
IR 504 paddy (raw): 8,500–8,550 VND/kg
-
IR 504 milled rice: 9,100 VND/kg
In An Giang Province, prices for other rice varieties are also stable:
-
Long An sticky rice (fresh): 5,300–5,500 VND/kg
-
IR 50404: 5,400–5,600 VND/kg
-
Dai Thom 8: 5,700–5,800 VND/kg
-
OM 5451: 5,600–5,800 VND/kg
-
OM 380: 5,500–5,600 VND/kg
-
OM 18: 5,700–5,800 VND/kg
-
Nang Hoa 9: 5,800–5,900 VND/kg
Retail rice prices:
-
Jasmine fragrant rice: 14,000–15,000 VND/kg (down 1,000 VND/kg)
-
Sticky rice: 14,000–15,000 VND/kg
-
Regular rice: 11,000–12,000 VND/kg
-
Nang Nhen: 20,000 VND/kg
-
Thai long-grain fragrant rice: 18,000–19,000 VND/kg
-
Huong Lai fragrant rice: 19,000 VND/kg
-
Standard white rice: 14,000 VND/kg
-
Nang Hoa: 17,500 VND/kg
-
Soc regular: 13,500–14,000 VND/kg
-
Soc Thai: 18,000 VND/kg
-
Taiwanese fragrant rice: 20,000 VND/kg
-
Japanese rice: 20,000 VND/kg
-
Rice bran: 7,000–8,000 VND/kg.