Vietnam has overtaken Thailand to become the world’s second-largest rice exporter in the first half of 2025, according to the Thai Rice Exporters Association.
Higher export volume, lower value
Data from Vietnam’s Ministry of Agriculture and Environment showed that the country exported an estimated 750,000 tonnes of rice in July, earning USD 366.1 million. This brought the total for the first seven months to 5.5 million tonnes, worth USD 2.81 billion, reflecting a 3.1 per cent rise in volume but a 15.9 per cent drop in value year on year.
The decline in export value is mainly due to falling prices. The average export price was USD 514 per tonne, down 18.4 per cent compared to the same period in 2024.
The Philippines remained Vietnam’s largest buyer, accounting for 42.6 per cent of total turnover, though value dropped 13.5 per cent.
In contrast, exports to several African markets surged. Shipments to Ghana rose by 53.5 per cent, while exports to Côte d’Ivoire nearly doubled, up 96.6 per cent. Among Vietnam’s top 15 export markets, Bangladesh saw the most significant increase in value, rising 188 times, while Malaysia recorded the steepest decline, at 58.5 per cent.
Vietnam’s rice remains competitive
Do Ha Nam, Chairman of the Vietnam Food Association, noted that the gap between Vietnam and Thailand remains small, but the result affirms the growing competitiveness of Vietnamese rice.
Despite downward pressure on global prices, Vietnamese rice continues to perform well in key markets including the Philippines, Africa, and China.
Nam added that Vietnam’s rice exports averaged USD 517 per tonne over the past six months, significantly higher than the average price of around USD 400 per tonne from other major exporters.