Vietnam : Rice exports gain momentum, reaching 5.3 million tonnes by mid-July
Vietnam’s rice exports exceeded a record 5 million tonnes in H1 2026, up 6.9%, though export revenue slipped 2.5% to US$2.4 billion due to lower average prices. Strong demand from the Philippines and China, along with improving June prices, supports USDA’s forecast of 8.1 million tonnes of exports in 2026.
In the first half of 2026 alone, shipments exceeded 5 million tonnes, up 6.9% year-on-year to reach the highest level ever recorded for a first-half period. However, as the average export price during the six months dropped by over 11% to around US$460 per tonne, total H1 revenue fell slightly by 2.5% to US$2.4 billion.
Nevertheless, export prices showed signs of recovery in June 2026 when the country exported 769,000 tonnes of rice worth US$376 million, representing sharp year-on-year increases of 47.9% in volume and 37.3% in value. The average export price in June hit US$497 per tonne, up 4.3% from the previous month to hit its highest level since late 2025.
Regarding consumption markets in the first half of the year, the Philippines remained Vietnam’s largest rice importer with a turnover of US$1.06 billion, corresponding to nearly 2.4 million tonnes.
China ranked second with 915,466 tonnes valued at US$454 million, followed by Ghana with 445,534 tonnes worth US$230 million. Other notable markets including Cote d’Ivoire, Malaysia, and Singapore maintained stable import volumes.
Looking at market prospects, the United States Department of Agriculture (USDA) forecasts global rice production for the 2026-2027 crop year at 537.2 million tonnes, about 2% lower than the previous season, while global consumption is expected to increase by 1.6 million tonnes to 542.8 million tonnes.
The USDA estimates Vietnam’s total 2026 rice exports will reach approximately 8.1 million tonnes, up 200,000 tonnes from its previous forecast due to positive demand from traditional markets, particularly the Philippines and China.
The Philippines’ increased imports aim to offset declining domestic supply caused by reduced crop yields, rising input costs, and potential water shortages for production.
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Source : VOV World
