Amidst the ongoing rice export crisis in Vietnam, the ministry of Industry and Trade held a conference to seek solutions for the challenges faced by the rice export market and to find solutions for the challenges facing the rice export market for the rest of 2025.
The high-level meeting was followed by an urgent directive issue by the Prime Minister of the nation, directing ministries to quickly implement measures to boost production, exports, and stabilize the rice market. The conference noted that the Philippines, which accounts for up to 40 percent of Vietnam’s rice exports, has temporarily suspended imports, leaving about 500,000 tons of Vietnamese rice struggling to clear customs. The rice export crisis in Vietnam further intensified when the Indonesia decided to halt purchases, causing Vietnam’s rice exports to Indonesia market to plummet by 97 percent over the past eight months.
Rice Export Crisis Intensifies with Nations Deciding to Halt Purchases
Further, Vietnam’s rice export to Malaysia have also dropped by 45 percent. This condition has put Vietnam’s rice industry in a difficult position, with both export prices and domestic consumption under heavy pressure. In lieu of this situation, the Ministry of Industry and Trade’s emergency conference, chaired by Minister Nguyen Hong Dien, included representatives from multiple ministries and 20 major export companies to execute the Prime Minister’s directives.
As per the customs data released by Vietnam, in the first eight months of the year, Vietnam exported nearly 6.37 million tons of rice, valued at $3.26 billion. The export figures represent a 3.7 per cent increase in volume but a 15.4 percent decrease in value compared to the same period in 2024. Despite these, the Philippines remains the largest importer, taking in nearly 2.9 million tons, with countries like Côte d’Ivoire, Ghana, and China have emerging as strong alternative markets. Notably, China’s imports soared by 141 percent after years of decline.