Vietnam: Rice export prices recover on firm demand from Philippines, China
Vietnam’s rice prices strengthened in July, driven by firm demand from the Philippines and China. While H1 2026 rice exports rose 2.5% to 5.02 million tonnes, export earnings fell 9.2% due to lower average prices, though July’s price recovery signals improved market sentiment for premium rice varieties.
Vietnamese rice prices increased m-o-m in July, supported by firm demand from key markets such as the Philippines and China. As of 22 July, Jasmine rice was quoted at $513-517/tonne (t), up around $8/t from 22 June, according to the Vietnam Food Association (VFA). Fragrant rice with 5% broken grains was priced at $510-520/t, an increase of $20-30/t, while 100% broken fragrant rice was quoted at $348-352/t, up approximately $4/t.
This increase comes despite lower exports in June, during which Vietnam exported 755,900 t of rice worth $375.8 million. Compared with the previous month, export volume fell 10.2%, while export value declined 12.6%.
Moreover, Vietnam exported 5.02 million tonnes (mnt) of rice during the first half of 2026, generating $2.38 billion in export earnings. Compared with the same period last year, export volume increased 2.5%, while export value declined 9.2%, reflecting lower export earnings despite higher shipment volumes.
Sustained import demand from the Philippines and China has supported Vietnam’s rice export prices by increasing competition for available export supplies. As the Philippines remains Vietnam’s largest rice buyer and China continues to procure significant volumes of fragrant and specialty rice, exporters have been able to secure higher prices, particularly for premium rice varieties.
Outlook
Despite a weaker export performance in June, Vietnam’s rice export prices showed signs of recovery in July. Rice export prices are likely to remain supported by continued demand from the Philippines and China, while export earnings will depend on the sustainability of the recent price recovery.
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Source : BIGMINT
