This meeting followed an urgent directive issued by the Prime Minister on September 9, calling on ministries to quickly implement measures to boost production, exports, and stabilize the rice market.
During the conference, officials noted that the Philippines, which accounts for up to 40 percent of Vietnam's rice exports, has temporarily suspended imports. This has left about 500,000 tons of Vietnamese rice struggling to clear customs. The situation is further complicated by Indonesia's decision to halt purchases, causing Vietnam's rice exports to that market to plummet by 97 percent over the past eight months. Exports to Malaysia have also dropped by 45 percent. This has put Vietnam's rice industry in a difficult position, with both export prices and domestic consumption under heavy pressure.
In response, the Ministry of Industry and Trade's emergency conference, chaired by Minister Nguyen Hong Dien, included representatives from multiple ministries and 20 major export companies to execute the Prime Minister's directives.
According to customs data, in the first eight months of the year, Vietnam exported nearly 6.37 million tons of rice, valued at $3.26 billion. This represents a 3.7 percent increase in volume but a 15.4 percent decrease in value compared to the same period in 2024. Despite the challenges, the Philippines remains the largest importer, taking in nearly 2.9 million tons. Meanwhile, countries like Côte d'Ivoire, Ghana, and China have emerged as strong alternative markets, with China's imports soaring by 141 percent after years of decline.
Speaking at the conference, Minister of Industry and Trade Nguyen Hong Dien emphasized that rice is a strategic commodity and that market diversification is essential to avoid overdependence. He noted that the Philippines' sudden suspension of imports serves as a major lesson, underscoring the need for rice enterprises to proactively seek new partners and broaden their markets.
To ensure a healthy market environment, the Ministry of Industry and Trade has revoked 13 export licenses from violating enterprises. At the same time, the ministry has signed a memorandum of understanding with Senegal for the export of 100,000 tons of rice, promoted trade activities in Guangzhou and Hong Kong (China), and is preparing for further negotiations with partners in Africa and South Asia.
Minister Nguyen Hong Dien called on enterprises to share difficulties, strictly fulfill their reporting obligations, participate in temporary stockpiling, and cooperate with the government to stabilize supply and demand. He affirmed that the Ministry of Industry and Trade will continue to strengthen the legal framework, improve market forecasting, promote the Vietnamese rice brand, and ensure the country’s goal of maintaining its position as one of the world’s leading rice exporters.
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