The Vietnam Food Association has reported significant growth in both export volume and export value in the first half of January 2025. (Illustrative photo)

VFA statistics show from January 1 to January 15, Vietnam exported over 268,700 tonnes of rice, valued at nearly US$165.7 million, up 38.7% in volume and up 23.28% in export value.

Prices of 5% and 25% broken rice tumbled to US$413 per tonne and US$387 per tonne respectively.

Despite strong growth early in the year, businesses are cautious about the outlook for rice exports in 2025 due to India’s return to the global rice market and market saturation. India’s resumption of rice exports could increase competition and put downward pressure on prices, while there is limited room for growth in 2025 following a record-breaking year in 2024.

Nguyen Ngoc Nam, VFA president, forecasts that Vietnam’s rice exports in 2025 are expected to reach 7.5 million tonnes, a decrease compared to the record 9.04 million tonnes exported in 2024.

While the export volume is projected to drop, businesses are prioritizing quality over quantity, aiming to strengthen Vietnam's reputation in high-value markets. This strategic shift could help mitigate some of the challenges in the competitive global rice market.