Despite reaching new export records, the lack of a strong rice brand has become a major barrier for the Vietnamese rice industry.
Difficult to maintain export record
Surpassing the impressive figures of 2023, rice exports in 2024 will reach about 9 million tons for the first time, earning nearly 5.8 billion USD, up 10.6% in volume but up 23% in value. The average export price of rice in 2024 will also increase by 16.7% compared to 2023. This is an extremely impressive breakthrough after 35 years since Vietnam began exporting rice. Thanks to that, rice farmers have good income and profits.
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| In 2024, Vietnam will rank 3rd in the world in rice exports. |
In terms of markets, Vietnamese rice has been exported to about 150 countries and territories around the world. Accordingly, the largest import markets are the Philippines, Indonesia, Malaysia, Ivory Coast, and Ghana; in which, the Philippines continues to be the largest rice import market of Vietnam and Vietnam is also the leading rice supplier of this country.
However, the good news for the rice industry did not last long when in early 2025, rice prices continuously decreased, causing farmers to worry and feel insecure. This situation once again raises the issue of the need for long-term solutions for sustainable development of the rice industry...
According to the latest information from the Vietnam Food Association (VFA), the price of 5% broken rice in Vietnam continues to decrease by another 4 USD/ton, down to 413 USD/ton. The price of 25% broken rice also decreased by 3 USD/ton to 387 USD/ton. However, the price of 100% broken rice increased by 8 USD/ton, up to 330 USD/ton. According to VFA, since the last month of 2024, Vietnam's rice export price has continuously decreased.
According to the Department of Agriculture and Rural Development of An Giang province, the price of Nang Hoa 9 is currently at 9,200 VND/kg; the price of IR 50404 rice (fresh) fluctuates at 5,500 - 5,700 VND/kg; OM 5451 rice fluctuates at 5,800 - 6,000 VND/kg; OM 18 rice (fresh) fluctuates at 7,600 - 7,800 VND/kg; Dai Thom 8 rice (fresh) fluctuates at 7,600 - 7,800 VND/kg; OM 380 rice is at 6,600 - 6,700 VND/kg; Nhat rice is at 7,800 - 8,000 VND/kg;...
Currently, the market price of rice is around 7,000 VND/kg for Dai Thom 8 or Jasmine varieties, while at the same time last year it was 9,000 VND/kg or even higher. Lower-end rice varieties cost from over 5,000 to under 7,000 VND/kg (depending on the type), down 1,000 - 2,000 VND/kg compared to the same period last year.
The sharp drop in rice export prices is due to the impact of many factors, including the fact that major rice importing countries are studying savings policies, avoiding high-priced rice imports, and even declaring not to buy rice in 2025. According to forecasts from businesses, the selling price and record of Vietnam's rice exports in 2024 will be difficult to maintain in 2025.
The long story of Vietnamese rice
Winter-Spring is the biggest rice crop of the year. From before Tet to after Tet 2025 is the time when the Mekong Delta region harvests the Winter-Spring rice crop, which means that a large amount of fresh rice will be harvested, and the supply of rice to the market will also be more abundant.
Industry experts say that the recent fall in rice prices near Tet is a wake-up call for sustainability in rice production and consumption. In the context of Vietnam reaching a record in rice exports, there needs to be synchronous policies to protect rice farmers. Solving the price problem is not only an economic issue, but also a social responsibility, ensuring a stable life for millions of farmers in the Mekong Delta.
Agricultural expert Hoang Trong Thuy commented that although Vietnam's rice export output has always reached impressive numbers, averaging 7-8 million tons per year, the added value of Vietnamese rice is still very limited. Vietnamese rice is still mainly exported in raw form. The lack of a strong rice brand has become a major barrier in export activities.
To overcome this situation, we need to focus on reorganizing production, especially according to the Project "Sustainable development of 1 million hectares of high-quality and low-emission rice cultivation associated with green growth in the Mekong Delta by 2030". Only by producing by region, unifying varieties and applying strict management processes can we create high-quality rice products that meet increasingly stringent market requirements.
Sharing the same view on this issue, from a local perspective, Mr. Tran Thai Nghiem - Deputy Director of the Department of Agriculture and Rural Development of Can Tho City - said: Farmers, cooperatives and businesses need to link up to go the long way. In particular, the Project "Sustainable development of 1 million hectares of high-quality and low-emission rice cultivation associated with green growth in the Mekong Delta by 2030" is the sustainable direction.
According to Mr. Le Minh Hoan - Minister of Agriculture and Rural Development, running out of rice for each meal used to be a constant concern, but now Vietnam has become one of the leading rice exporting countries in terms of output and quality. Vietnamese rice is honored in the group of the best rice in the world. That is a national pride and honor. Rice has enhanced the image and position of the nation, contributing to positioning our country on the world agricultural map.
The year 2025 is considered to be a difficult year for the rice industry. However, many businesses are still quite optimistic because the market has now diversified, expanding its market share in the high-end segment not only in the EU but also in Japan, China and the Middle East.
Along with that, focusing on exporting high-quality rice not only helps affirm the position of Vietnamese rice but also serves as a basis for businesses to proactively negotiate selling prices commensurate with value, reducing price pressure from the food reserve market.
However, in order for Vietnamese rice to not only increase in value but also double or triple in value, industry experts say that building a rice brand is the top priority, in addition, it is necessary to develop the value chain, from production to consumption and focus on high-end markets.
Lessons learned from the success of neighboring countries such as Thailand and Cambodia, along with the shift in thinking from agricultural production to agricultural economics and the development of unique, high-quality products that meet the strict requirements of the international market will be the way for rice growers to escape the curse of "keeping rice poor forever", "good harvest, low price", and at the same time, contribute to enhancing the image of Vietnamese rice in the international market.
In his speech to the press at the New Year's Eve meeting, Minister of Agriculture and Rural Development Le Minh Hoan opened his speech with a short video of the song "Rock Hat Gao" by singer Phuong My Chi. The combination of a rock genre that is typically Western music with the traditional Vietnamese material of rice grains has opened up for us a fresh perception of the image of a global citizen. The English compound word “glocal” is a combination of the words global and local, which is a very good suggestion: global connection, associated with local understanding, respecting local resources. We integrate globally, distill the best things of the world, to renew traditional values. And confidently and proudly introduce and promote traditional values to the world, to proactively create the image and position the Vietnamese brand. Is that also the story when building agricultural product brands? We need to be quick to integrate, but to integrate and integrate well, first of all, we need to build a solid foundation, filter out unique values, cherish the simple, familiar things, and take root forever. |
Source: https://congthuong.vn/xuat-khau-gao-va-cau-chuyen-duong-dai-371926.html
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