Vietnam imports USD 685 million worth of rice in Q1 despite export slowdown
In Q1 2025, Vietnam exported 2.2 million tons of rice worth USD 1.14 billion—a 0.6% volume rise but 19.7% value drop. Export prices fell 20.1% year-on-year. Meanwhile, Vietnamese firms imported USD 685 million worth of low-grade rice—up 32.4%—to capitalize on falling global prices for processing and feed. This strategic stockpiling offset declines in export trade surplus.
As rice exports decline in value, Vietnamese firms ramp up imports to stockpile cheap, low-grade rice for processing and feed.
In a surprising twist, while Vietnam’s rice export market faces a downturn, domestic companies are actively importing the staple – spending USD 685 million on rice purchases in the first three months of 2025 alone.
According to the Ministry of Agriculture and Environment, rice exports in March 2025 were estimated at 950,000 tons, valued at approximately USD 463.6 million.
Cumulatively, in the first quarter, Vietnam exported 2.2 million tons of rice, generating USD 1.14 billion in revenue. This marks a 0.6% increase in volume, but a significant 19.7% drop in value compared to the same period in 2024.
The average export price of Vietnamese rice in Q1 stood at USD 522.1 per ton, down 20.1% year-on-year.
Despite this, the ministry noted that rice remains one of the top five agricultural commodities with the highest trade surplus in Q1, although the surplus fell to USD 454.7 million, representing a 49.5% decline.
The data also highlights that Vietnamese enterprises spent USD 685 million on rice imports in the same three-month period – an increase of 32.4% compared to the first quarter of last year.
Speaking with VietNamNet, a rice industry representative explained that Q1 is traditionally the time companies stockpile rice imports for year-round processing needs.
In recent months, global rice prices have dropped sharply, reaching their lowest point in three years.
As of March 31, the price for 5% broken rice from Vietnam and Thailand hovered around USD 399 per ton, while similar-quality rice from India and Pakistan was priced at USD 385 per ton and USD 291 per ton, respectively.
Meanwhile, 25% broken rice from Vietnam was priced at USD 370 per ton, compared to USD 377 from Thailand, USD 371 from India, and USD 358 from Pakistan.
Most of the imported rice brought into Vietnam is low-grade, primarily for processing and animal feed. With international prices bottoming out, businesses are seizing the opportunity to buy in bulk and stockpile, which explains the sudden surge in import value.
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Source : Vietnam Net
