RICE EXPORTS EXCEED US$3.26 BILLION IN JAN-AUG

A farmer harvests rice in southern Vietnam - PHOTO: HP

HCMC – Vietnam exported 6.37 million tons of rice worth US$3.26 billion in the first eight months of 2025, fulfilling nearly 80% of the full-year plan.

According to the Ministry of Industry and Trade’s news portal, rice exports in January-August rose 3.7% in volume but fell 15.4% in value year-on-year. Last year marked Vietnam’s highest rice export revenue on record.

At a recent conference in Hanoi, Minister of Industry and Trade Nguyen Hong Dien said the sector had posted positive results, with 6.3 million tons shipped so far.

With a full-year target of eight million tons, rice exports are on track to surpass the plan. Vietnamese rice has secured a strong foothold in traditional markets and expanded into new destinations such as the Middle East, Africa, and West Asia.

However, Dien noted that temporary import suspensions by key buyers such as Indonesia and the Philippines have piled pressure on prices and consumption. He suggested ministries closely monitor developments in these markets to advise the Government and guide enterprises accordingly.

The Ministry of Finance and the State Bank of Vietnam have been urged to accelerate Value Added Tax (VAT) refunds, simplify customs procedures, raise credit limits, and provide timely funding for rice purchases and reserves, while also considering an increase in national stockpiles.

The Government and the National Assembly should promptly address proposals related to the VAT Law, introduce preferential credit schemes, and adopt logistics policies to facilitate exports.

Meanwhile, rice exporters need to maintain quality, research markets, build strong brands, and expand further into Africa, the Middle East, and South Asia, diversifying products and ensuring stable supplies for export contracts.

Source: The Saigon Times