HCMC – Vietnam’s rice export prices continued to decline in early 2026, even as the Philippines reopened its import market after a temporary ban.
In the first half of January 2026, Vietnam exported more than 318,000 tons of rice, earning nearly US$150 million, according to preliminary data from the Department of Vietnam Customs. The average export price stood at around US$470 per ton, indicating a continued downward trend compared with previous years.
The customs authority has yet to release a breakdown of Vietnam’s largest rice export destinations for the period. However, from January 1, 2026, the Philippines—Vietnam’s largest rice buyer in 2025—officially resumed rice imports.
Data from the Vietnam Food Association (VFA) showed that in December 2025, 34 vessels loaded more than 246,000 tons of rice at ports in HCMC. Key destinations included the Philippines, Malaysia and African markets.
For the full year 2025, Vietnam exported nearly 8.06 million tons of rice, generating more than US$4.1 billion in export revenue. This marked a 10.8% decline in volume and a 27.6% drop in value compared with 2024.
The average export price in 2025 fell to about US$509 per ton, down sharply from US$627.2 per ton in 2024. The average price recorded in early January 2026 was US$39 per ton lower than the 2025 average and more than US$157 per ton below the 2024 level.
In terms of markets, the Philippines remained Vietnam’s largest rice importer in 2025, purchasing more than 3.2 million tons worth over US$1.57 billion. The country accounted for 40% of Vietnam’s total rice export volume and 38.3% of total export value.
Other major markets included Côte d’Ivoire, which imported 1.06 million tons valued at over US$478 million, and Ghana, with 919,000 tons worth nearly US$514 million. China imported 747,000 tons valued at nearly US$374 million, while Malaysia bought 515,000 tons worth close to US$240 million.
Vietnam’s rice sector faced significant volatility in 2025 as several importing countries scaled back purchases. The Philippines imposed an import ban from September 1 through the end of 2025, weighing heavily on Vietnam’s export performance.
Although the Philippine market has reopened, imports remain subject to controlled measures through tariffs, reflecting Manila’s efforts to balance domestic farmer protection with food supply stability and consumer price management.
