Vietnam rice exports reach $2.86 billion amid global price competition

Vietnam's rice exports reached approximately $2.86 billion in value over the first eight months of 2026, despite a 6.3% decrease in volume and an 11.9% decline in value compared to the previous year. The average export price fell to $480.9 per tonne, a 6% year-on-year decrease.

This decline is attributed to intensified price competition in the global market, driven by a massive influx of supply following India's decision to release nearly 20 million tonnes of rice stocks. This move has pressured prices globally, prompting competitors like Thailand and Pakistan to lower their rates.

While the Philippines remains Vietnam's primary market, accounting for 43.2% of export value, revenue from this region has seen a decline. However, opportunities remain in China, which has shown strong import growth for broken rice and glutinous rice, as well as in African markets such as Nigeria and Kenya.