Việt Nam to proactively reduce rice exports from 2026

Việt Nam to proactively reduce rice exports from 2026

Đỗ Hà Nam, Chairman of the Vietnam Food Association (VFA), said that this year presents numerous difficulties and challenges, and the global supply glut significantly impacts all exporters, including Việt Nam.

Việt Nam aims to export seven million tonnes of rice in 2026. — VNA/VNS Photo

Việt Nam plans to export approximately seven million tonnes of rice this year, down from eight million tonnes last year, with a gradual reduction to just four million tonnes by 2030, according to Đỗ Hà Nam, Chairman of the Vietnam Food Association (VFA).

Explaining this, Nam said that this year presented numerous difficulties and challenges, and the global supply glut significantly would impact all exporters, including Việt Nam.

This would not be solely due to market conditions but be part of a strategic shift for the rice industry, according to Decision 583 issued by the Prime Minister in May 2023. Along with this reduction, the country would focus on improving quality and increasing value, aiming for higher-end segments, he said.

Nam acknowledged that 2026 presented several challenges. In January, Việt Nam exported about 250,000 tonnes to the Philippines, but prices did not fluctuate significantly due to high carryover stocks from last year. Additionally, the Philippines' import quota system had made it difficult for Việt Nam to export, especially during peak harvest periods.

Therefore, to resolve the rice pricing issue for farmers during the upcoming winter-spring harvest, the government and relevant ministries should create favourable conditions for businesses to temporarily store rice during harvest season. Additionally, promoting government-to-government contracts with countries like Ghana and Singapore would be beneficial, Nam suggested.

In 2024, Việt Nam’s rice exports reached a record 9.2 million tonnes, generating US$5.8 billion in revenue. The figures reduced to eight million tonnes and $4.1 billion last year. 

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