Rice exports in 2024 experienced remarkable growth but will face many challenges in the new year

Vietnam's rice exports in 2024 achieved record-breaking volume and value, totaling around 9 million tons and generating 5.7 billion USD. The average export price surpassed 600 USD/ton, the highest ever recorded. This success was driven by strong demand, particularly from the Philippines, Vietnam's largest rice consumer. However, Vietnam still trailed Thailand in global export rankings. While Vietnam's agriculture products, specifically rice, saw significant growth, challenges loom for 2025. India's projected increase in rice exports and potential import reductions from Indonesia and China pose significant threats. Declining global rice prices further exacerbate the situation. Vietnamese exporters are focusing on high-quality rice varieties and improved processing techniques to maintain competitiveness. Government support, including financial assistance and trade promotion, will be crucial to navigate these challenges in the coming year. Dong Thap province led the nation in rice exports, highlighting the importance of regional contributions to Vietnam's agricultural exports.