VIETNAM TO PROACTIVELY REDUCE RICE EXPORTS FROM 2026

HANOI, Jan 16 (Bernama-VNA) -- Vietnam plans to export approximately seven million tonnes of rice in 2026, with a gradual reduction to just four million tonnes by 2030, according to the Vietnam Food Association (VFA) chairman Do Ha Nam.

The country exported eight million tonnes of rice last year, Vietnam News Agency (VNA) reported.

Explaining this, Nam said that 2026 presents numerous difficulties and challenges, and the global supply glut significantly impacts all exporters, including Vietnam

The move is not solely due to market conditions but is part of a strategic shift for the rice industry, according to Decision 583 issued by the Prime Minister in May 2023.

Along with this reduction, Vietnam will focus on improving quality and increasing value, aiming for higher-end segments, he said.

However, Nam acknowledged that 2026 presents several challenges. In January, Vietnam exported about 250,000 tonnes to the Philippines, but prices did not fluctuate significantly due to high carryover stocks from 2025.

Additionally, the Philippines' import quota system has made it difficult for Vietnam to export, especially during peak harvest periods.

To address pricing challenges faced by farmers during the upcoming winter-spring harvest, Nam said the government and relevant ministries should create favourable conditions for businesses to temporarily store rice during the harvest season.

He added that promoting government-to-government contracts with countries like Ghana and Singapore would also be beneficial.

In 2024, Vietnam’s rice exports reached a record 9.2 million tonnes, generating US$5.8 billion in revenue. The figures declined to eight million tonnes and US$4.1 billion last year.

-- BERNAMA-VNA