Semi-milled or wholly milled rice market in Vietnam

Earlier Report Observations

The domestic market volume for semi-milled or wholly milled rice in Vietnam contracted from 20,775 thousand tons in 2018 to 16,333 thousand tons in 2023. This decline was primarily due to a sustained increase in exports, which rose from 2,616 thousand tons to 7,134 thousand tons over the same period, while domestic production remained stable around 23,000 thousand tons annually.

In 2024, rice exports reached 7,172 thousand tons, supported by record-high international prices above USD 600 per ton. Export restrictions on rice imposed by India created favorable conditions for Vietnamese suppliers to capture additional market share. Concurrently, the Ministry of Industry and Trade leveraged free trade agreements to facilitate market access, helping Vietnam become the largest rice exporter to Singapore in the first quarter of 2024.

Production capacity expanded in key regions, with milling output in Dong Thap province increasing by 17.25% year-on-year. Regulatory improvements, such as the new Tendering Law effective from January 2024, assisted exporters by optimizing financial resource management, further strengthening Vietnam's competitive position in the global rice market.

Production semi-milled or wholly milled rice in Vietnam

In kind, 2017-2020, K t

From 2017 to 2020, Vietnam held the fifth position globally in the production of semi-milled or wholly milled rice.

Top producers of semi-milled or wholly milled rice, 2017-2020

World map of production of semi-milled or wholly milled rice, 2017-2020

Vietnam's production of semi-milled or wholly milled rice declined for the second year in a row. In 2020, the country produced 22 720 thousand tonnes, marking a 1.5% decrease compared to the previous year. The highest production level was recorded in 2018 at 23 372 thousand tonnes, which also saw the largest annual increase of 3.0%.

Annual dynamics of production in Vietnam in kind, 2017-2020, K t

Exports semi-milled or wholly milled rice from Vietnam

Exports in kind, K t

The market showed an unstable trend over the period. Export volumes reached their lowest point in 2018 at 2 616 thousand tonnes, then peaked in 2017, with a two-fold difference between these years. In 2020, Vietnam exported 4 746 thousand tonnes of semi-milled or wholly milled rice, reflecting a slight decrease of 1.1% from the previous year. The largest decline occurred in 2018 at 51.0%, while the largest increase was in 2019 at 83.5%.

Annual dynamics of product's exports from Vietnam in kind, 2017-2020, K t

Between 2017 and 2020, the Philippines, China, and Malaysia were the main markets for Vietnam's exports of semi-milled or wholly milled rice in volume terms. The Philippines accounted for 30.5% of exports, China for 19.8%, and Malaysia for 10.5%, together making up 60.8% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Vietnam in kind, 2017-2020

Exports in value, M $ US

In 2020, Vietnam's exports of semi-milled or wholly milled rice in value terms amounted to 2 361 million US dollars, showing a moderate increase of 9.1% over the previous year. From 2017 to 2020, overall exports decreased by 3.4%, equivalent to an annualized rate of 1.1%. The lowest value was recorded in 2019 at 2 164 million US dollars, while the highest was in 2018 at 2 462 million US dollars. The largest decline occurred in 2019 at 12.1%.

Annual dynamics of product's exports from Vietnam in value, 2017-2020, M $ US

From 2017 to 2020, the Philippines, China, and Malaysia contributed the most to Vietnam's exports of semi-milled or wholly milled rice in value terms. The Philippines represented 27.6% of exports, China 20.9%, and Malaysia 9.3%, collectively accounting for 57.8% of total export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Vietnam in value, 2017-2020

Imports semi-milled or wholly milled rice to Vietnam

Imports in kind, K t

After two years of decline, Vietnam's imports of semi-milled or wholly milled rice increased in 2020. The country imported approximately 17 thousand tonnes that year, representing a sharp rise of 46.3% compared to 2019. Over the 2017-2020 period, imports decreased by 54.3%, with a compound annual growth rate of -23.0%. The lowest volume was recorded in 2019 at 11 thousand tonnes, and the largest decline occurred in 2018 at 46.7%.

Annual dynamics of product's imports to Vietnam in kind, 2017-2020, K t

Between 2017 and 2020, Thailand, Laos, and Myanmar were the principal suppliers of semi-milled or wholly milled rice to Vietnam in volume terms. Thailand accounted for 34.5% of imports, Laos for 27.3%, and Myanmar for 16.8%, together making up 78.6% of total import volumes.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Vietnam in kind, 2017-2020

Imports in value, M $ US

In 2020, Vietnam's imports of semi-milled or wholly milled rice in value terms stood at 18 million US dollars, up by 49.4% compared to the previous year. Over the 2017-2020 period, imports increased by 3.5%, with a compound annual growth rate of 1.2%. The lowest value was recorded in 2019 at 12 million US dollars, while the highest was in 2018 at 20 million US dollars. The largest decline occurred in 2019 at 41.9%.

Annual dynamics of product's imports to Vietnam in value, 2017-2020, M $ US

From 2017 to 2020, Thailand, Laos, and Myanmar continued to lead as suppliers of semi-milled or wholly milled rice to Vietnam in value terms. Thailand accounted for 36.8% of imports, Laos for 22.0%, and Myanmar for 21.6%, collectively representing 80.5% of total import value.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Vietnam in value, 2017-2020