Rice export prices hit 9-year low

According to the Vietnam Food Association (VFA), Vietnam's 5% broken rice exports decreased to 399 USD per ton on February 7th, the lowest price in nine years. This significant drop is due to increased global supply, particularly from India's return to the market. The increased supply, coupled with large global rice inventories, has created downward pressure on prices. Vietnamese rice is now cheaper than comparable rice from Thailand, India, and Pakistan. While fragrant and high-quality rice retain their market value, the upcoming winter-spring harvest, expected to yield abundant crops, may further reduce prices as importers await better deals. This situation presents challenges for agricultural exports from Vietnam in 2025.