Vietnam’s average export price for rice currently stands at 514 USD per tonne. Although this is lower than in recent years, it remains higher than that of other suppliers, the association said, noting that the global rice market is experiencing oversupply.

Thailand, the world’s second-largest rice exporter for many years, is facing significant challenges, with volumes down 30% year-on-year. In contrast, Vietnam’s rice exports have continued to grow, reaching over 5.5 million tonnes to date.

“Vietnam's rice supply still falls short of demand because we have established our own markets with varieties such as DT, OM, and especially ST,” VFA said, adding that shipments to African countries surpassed 1 million tonnes as of the end of June. Importers from the region continue to place orders, whereas in previous years, purchases had typically stopped by this time.