Since the beginning of 2025, Vietnam's rice export prices have been on a sharp decline, losing the $500/ton mark for 5% and 25% broken rice. Even some types of fragrant rice have fallen below the $600/ton mark. This is the lowest figure in the past two years, causing concern among farmers.

According to data updated by the Vietnam Food Association (VFA) as of January 8, the export price of 5% broken rice from Vietnam continued to decrease by another 7 USD/ton, to 460 USD/ton. This price has nearly hit a 2-year “bottom”. The price of 25% broken rice also decreased by 5 USD/ton, to 432 USD/ton.

Compared to the same type of Thai rice, the price of 5% broken rice from Vietnam is 30 USD/ton lower, the price of 25% broken rice is 15 USD/ton lower.

Notably, Thai rice prices have remained stable or only decreased slightly in recent days. Therefore, at 490 USD/ton for 5% broken rice and 447 USD/ton for 25% broken rice, Thai rice prices have far surpassed Vietnam's to take the most expensive position among the top major exporting countries in the world.

Explaining the sharp decline in Vietnamese rice prices in recent days, Mr. Tran Thanh Hai - Deputy Director of the Import-Export Department (Ministry of Industry and Trade) - said that rice export prices are like stocks, sometimes going up, sometimes going down, sometimes increasing, sometimes decreasing. According to him, rice prices cannot increase forever, when they reach their peak, they will have to decrease. This is completely normal.

Not to mention, rice prices have decreased following the world trend in the context of India (the world's rice warehouse) lifting the ban on rice exports as well as removing export taxes, "dumping" goods, creating pressure on the market.

In addition, abundant global rice production will affect world rice prices, including Thailand and Pakistan, not just Vietnam, said the Deputy Director of the Import-Export Department.

In the current context, Mr. Hai believes that businesses and rice farmers need support from many sides. For example, when rice prices are low, banks can support loans for businesses and traders to increase rice purchases and storage, helping to stabilize the domestic market; or the financial sector can quickly complete VAT refund procedures so that businesses can rotate capital to buy rice.

Just after setting a historic "double" record, Vietnamese rice had an unexpected development . Vietnamese rice exports have just set a historic "double" record in both quantity and value. However, this strong commodity had an unexpected development in the last days of 2024.