Proactively promoting national-level rice cooperation
From July 5-7, within framework of BRICS Summit in Rio de Janeiro (Brazil), Prime Minister Pham Minh Chinh had bilateral meetings with leaders of Brazil, Malaysia and Indonesia. Based on Prime Minister's proposal, Vietnam reached important agreements.
Accordingly, with Brazil, two sides agreed to sign a cooperation agreement to ensure long-term food security, in which Vietnam will export stable rice to this market of more than 200 million people, a strategic hub in South America. With Malaysia, Vietnam will ensure a stable rice supply for Malaysia through long-term cooperation. With Indonesia, two sides agreed to promote signing of a rice trade agreement, aiming to stabilize long-term supply and prices.
At Conference with Heads of Vietnamese Representative Agencies Abroad on promoting economic diplomacy to contribute to realization of economic growth target in the last 6 months of this year, creating momentum for double-digit growth in the next phase, which took place on evening of July 22, the Prime Minister noted that units should promote signing of Rice Trade Agreement with 5 countries: Indonesia, Philippines, Malaysia, Singapore, Brazil.
In recent times, Ministry of Industry and Trade has actively implemented trade promotion activities, expanded market by signing memorandums of understanding (MOUs) and moving towards signing Rice Trade Agreement with a number of potential markets. In particular, the Ministry promptly sent diplomatic notes and draft reference clauses to 5 countries: Indonesia, Philippines, Malaysia, Singapore and Brazil.
Most recently, within framework of official visit of National Assembly Chairman and his wife to Senegal from July 22-24, 2025, authorized by the Minister of Industry and Trade of Vietnam, on July 23, 2025, at signing ceremony/exchange of cooperation documents between two sides at the Senegal Prime Minister's Office, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan signed and exchanged Memorandum of Understanding on rice trade with Senegal's Minister of Industry and Trade Serigne Gueye Diop in presence of National Assembly Chairman Tran Thanh Man and Senegalese Prime Minister Ousmane Sonko. Accordingly, depending on production and market conditions, as well as international prices at time of transaction, Vietnamese side agreed to promote export of 100,000 tonnes of rice to Senegal each year. Purchase/sale transactions under this Memorandum of Understanding are carried out through written contracts agreed and signed between selling unit and Senegalese importers, in accordance with international trade practices and regulations.
Vietnamese rice on the journey to affirm its position
In the first half of 2025, rice exports reached 4.9 million tonnes and 2.54 billion USD, up 7.6% in volume but down 12.2% in value compared to the same period in 2024. The Philippines has been the world's largest rice importer for many years and is a traditional customer of Vietnam.
According to Customs Department (Ministry of Finance), in the first 6 months of this year, Vietnam's rice exports to the Philippines market increased by 8.7% to 2.1 million tonnes, equivalent to 45% of total exports.
Vietnam's total rice exports to Indonesia in the first 5 months of 2025 reached 8.23 million USD with a volume of 18,427 tonnes, down 98% in value and 97.28% in volume. Indonesia, the world's second largest rice importer in 2023 and 2024, increased its reserves to 4.2 million tonnes in early July 2025. This is a record amount of rice reserves ever thanks to favorable weather and expanded production.
Vietnam, one of the world's leading rice exporting powers, is facing a worrying paradox in the context of volatile global markets. Fierce competitive pressure, especially from India - the world's largest rice exporter, which has eased export restrictions, has significantly impacted the price and market share of Vietnamese rice.
In context of abundant global rice supply and falling prices. In addition, the largest rice importing countries of Vietnam, the Philippines and Indonesia, always express their desire to diversify rice supply sources as well as proactive efforts to increase domestic rice volume, which will affect Vietnamese rice export activities.
According to agricultural expert Hoang Trong Thuy, story of Vietnamese rice reaching out to the world does not stop at the fields, but it is also a story about the market, price, competition, choosing the right time and taking advantage of the situation, sometimes because of love and affection!.
He said: “In 1999, Vietnam officially became one of the world's rice exporting powers. In 2011, Vietnamese rice set a record in output when it reached 7.1 million tons, turnover of 3.65 billion USD, average export price of 495 USD/tonne. In 2024, Vietnam achieved a record output of 9 million tons of rice, export value of 5.7 billion USD. Average export price of rice reached the highest level, at 627.9 USD/tonne, an increase of 10.6% compared to 2023”.
Vietnamese rice is now available in 150 markets, countries and regions. "When the world talks about rice, it means Vietnam"! This is result of the relentless efforts and determination of the Government, Ministry of Industry and Trade, Ministry of Agriculture and Environment in negotiating, opening up and developing the market. In addition, there is the effort of enterprises, associations and the diligence, patience and resilience of farmers who work hard in the fields.
Referring to solutions to overcome difficulties in rice export in 2025, in addition to maintaining traditional markets, it is necessary to promote negotiations to open new markets to ensure sustainable rice export in the long term. At the same time, in terms of production, it is necessary to focus on adjusting the structure and types of rice, prioritizing rice quality.
Building an Ecosystem to take advantage of FTAs for Vietnamese rice export. Along with that, signing of the Memorandum of Understanding on rice trade as well as promoting signing of rice trade agreements is of great significance, not only contributing to ensuring food security and stabilizing rice market in context of increasingly complex climate change and natural disasters, but also strengthening economic and trade relations between Vietnam and other countries. At the same time, it helps Vietnam diversify its export markets, expand output for the rice industry and increase income for farmers.

Source: Vitic/ congthuong.vn