Specifically, the price of IR504 raw rice increased slightly to around 8,000–8,100 VND/kg, supported by abundant supply from the Winter–Spring crop entering the market, while procurement activities for export were maintained.

Meanwhile, IR504 finished rice prices held steady at approximately 9,500–9,700 VND/kg, as domestic consumption demand showed no significant changes.

By contrast, broken rice and rice bran prices declined slightly compared to late February 2026, averaging around 7,500–7,600 VND/kg and 7,900–8,100 VND/kg, respectively. This reflected increased by-product supply resulting from intensified milling activities.

Domestic Rice Price Movements (March 2026)
(Unit: VND/kg)

Vietnam’s export rice prices showed a gradual downward trend throughout March 2026, amid rising domestic supply and subdued global demand.

At the beginning of the month, 5% broken rice was offered at around USD 360–365 per tonne, relatively stable compared to the previous week as trading activity remained slow and buyers adopted a wait-and-see approach.

By mid-month, prices fell to USD 355–360 per tonne due to a sharp increase in supply from the Winter–Spring harvest, while import demand had yet to show clear improvement. Trading remained sluggish as importers delayed signing new contracts amid rising freight and insurance costs.

Toward the end of the month, prices declined further to USD 350–355 per tonne, reflecting abundant domestic supply and the negative impact of higher logistics costs caused by Middle East tensions. These factors reduced competitiveness and slowed export progress.

Overall, Vietnam’s rice prices in March 2026 recorded a clear downward trend over time, mainly driven by increased supply from the Winter–Spring crop, weak global demand, and unfavorable transportation conditions.

In a broader perspective, Vietnam’s 5% broken rice prices had fallen sharply since late 2024, with a notable drop around November 2024 before a slight recovery in December. Entering 2025 and early 2026, prices remained relatively stable at around USD 355–365 per tonne, before declining further to approximately USD 352 per tonne in March 2026. The recent trend indicated a mild downward movement and stabilization at lower levels, reflecting increased supply and slow recovery in global demand.

Domestic rice supply in March 2026 was abundant as the Winter–Spring harvest—the largest crop of the year—entered its peak season. Increased paddy output significantly boosted the availability of commercial rice as well as by-products such as broken rice and bran.

In addition, enterprises intensified procurement for temporary stockpiling and export purposes, which helped support paddy consumption for farmers. However, this did not create significant upward pressure on prices, as overall supply remained high.

Amid a global market characterized by oversupply and declining prices, domestic supply continued to exert downward pressure, particularly in the lower-grade rice segment.

According to preliminary data from Vietnam Customs, rice exports in February 2026 reached 621,837 tonnes, valued at USD 284.54 million, with an average price of USD 457.57 per tonne. This represented a decline of 4.54% in volume, 8.18% in value, and 3.82% in price compared to January 2026.

Compared to February 2025, exports decreased by 10.75% in volume, 20.59% in value, and 11.03% in price.

In February 2026, the Philippines remained Vietnam’s largest export market, importing 379,492 tonnes worth USD 164.86 million at an average price of USD 434.43 per tonne. This marked an increase of 14.38% in volume and 11.81% in value, but a decline of 2.25% in price compared to January 2026.

China ranked second, importing 59,976 tonnes valued at USD 31.28 million at USD 521.52 per tonne. This reflected a sharp decline of 49.25% in volume and 44.93% in value, although prices rose by 8.53% month-on-month.

Côte d’Ivoire ranked third with 56,002 tonnes worth USD 23.53 million at USD 420.13 per tonne, representing a significant surge of over 400% in both volume and value compared to the previous month.

For the first two months of 2026, Vietnam exported a total of 1.27 million tonnes of rice, valued at USD 594.10 million, with an average price of USD 466.60 per tonne. This represented an increase of 3.49% in volume but a decrease of 11.95% in value and 14.92% in price compared to the same period in 2025.

The Philippines remained the largest market, accounting for 55.86% of total export volume and 52.57% of total export value, with 711,264 tonnes worth USD 312.32 million at USD 439.10 per tonne. This marked a 30.0% increase in volume and 9.87% in value, but a 15.48% decrease in price year-on-year.

China ranked second with 178,165 tonnes valued at USD 88.07 million at USD 494.32 per tonne, accounting for 13.99% of volume and 14.82% of value, with strong growth of over 140% in both volume and value compared to the previous year.

Ghana ranked third with 86,674 tonnes valued at USD 45.07 million at USD 519.98 per tonne, representing declines of 22.71% in volume and 34.45% in value year-on-year.

Exports to Southeast Asia accounted for 62.80% of total volume and 59.22% of total value, reaching 799,593 tonnes worth USD 351.81 million, up 30.40% in volume and 8.94% in value compared to the same period in 2025.

Exports to RCEP markets reached 983,365 tonnes valued at USD 443.55 million, increasing by 42.39% in volume and 22.41% in value year-on-year. Meanwhile, exports to CPTPP markets totaled 87,936 tonnes worth USD 40.08 million, up 62.03% in volume and 17.11% in value.

Vietnam Rice Exports in the First Two Months of 2026
(Compiled from Vietnam Customs data)

Source: VITIC calculations based on Vietnam Customs data
Source: Vitic