Vietnam - Rice - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRice Price in Vietnam - 2021
Contents:
- Rice Price in Vietnam (FOB) - 2022
- Rice Price in Vietnam (CIF) - 2021
- Rice Exports in Vietnam
- Rice Imports in Vietnam
Rice Price in Vietnam (FOB) - 2022
The average rice export price stood at $511 per ton in 2022, which is down by -2.9% against the previous year. Over the last decade, it increased at an average annual rate of +1.0%. The pace of growth appeared the most rapid in 2018 an increase of 15% against the previous year. Over the period under review, the average export prices reached the maximum at $526 per ton in 2021, and then dropped slightly in the following year.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Philippines ($904 per ton), while the average price for exports to Papua New Guinea ($131 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.
Rice Price in Vietnam (CIF) - 2021
In December 2021, the average rice import price amounted to $598 per ton, surging by 4.7% against the previous month. Over the period under review, the import price, however, continues to indicate a slight reduction. The most prominent rate of growth was recorded in May 2021 an increase of 24% m-o-m. Over the period under review, average import prices hit record highs at $761 per ton in June 2021; however, from July 2021 to December 2021, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In December 2021, the country with the highest price was Thailand ($963 per ton), while the price for China ($560 per ton) was amongst the lowest.
From December 2020 to December 2021, the most notable rate of growth in terms of prices was attained by Thailand (+0.2%), while the prices for the other major suppliers experienced mixed trend patterns.
Rice Exports in Vietnam
After three years of growth, overseas shipments of rice decreased by -0.7% to 5.7M tons in 2022. The total export volume increased at an average annual rate of +1.3% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2020 when exports increased by 3.3% against the previous year.
In value terms, rice exports contracted modestly to $2.9B in 2022. The total export value increased at an average annual rate of +6.0% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 15% against the previous year.
Export of Rice in Vietnam (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Philippines | 773 | 1,012 | 1,148 | 904 | 5.4% |
China | 216 | 450 | 486 | 483 | 30.8% |
Ghana | 187 | 266 | 362 | 354 | 23.7% |
Cote d'Ivoire | 231 | 203 | 202 | 216 | -2.2% |
Malaysia | 190 | 225 | 130 | 178 | -2.2% |
Indonesia | 204 | 77.5 | 53.4 | 69.3 | -30.2% |
Iraq | 134 | 44.8 | 52.7 | 59.9 | -23.5% |
Singapore | 45.9 | 57.3 | 61.2 | 59.9 | 9.3% |
Hong Kong SAR | 55.0 | 47.2 | 46.2 | 35.1 | -13.9% |
Papua New Guinea | 33.6 | 36.1 | 34.9 | 33.7 | 0.1% |
Others | 365 | 372 | 430 | 506 | 11.5% |
Total | 2,434 | 2,791 | 3,006 | 2,899 | 6.0% |
Top Export Markets for Rice from Vietnam in 2022:
- China (1105.4K tons)
- Philippines (1000.3K tons)
- Ghana (766.5K tons)
- Malaysia (520.7K tons)
- Cote d'Ivoire (507.8K tons)
- Papua New Guinea (257.4K tons)
- Iraq (147.9K tons)
- Singapore (131.0K tons)
- Indonesia (129.3K tons)
- Hong Kong SAR (71.8K tons)
Rice Imports in Vietnam
In 2022, supplies from abroad of rice decreased by -2.5% to 84K tons for the first time since 2018, thus ending a three-year rising trend. In general, total imports indicated a buoyant expansion from 2019 to 2022: its volume increased at an average annual rate of +17.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +60.7% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 46%.
In value terms, rice imports dropped modestly to $47M in 2022. The total import value increased at an average annual rate of +11.9% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when imports increased by 39% against the previous year.
Import of Rice in Vietnam (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Cambodia | 2.3 | 16.4 | 20.9 | 19.8 | 104.9% |
Thailand | 7.2 | 5.8 | 7.6 | 13.1 | 22.1% |
Myanmar | 2.5 | 2.2 | 0.4 | 5.6 | 30.8% |
Lao People's Democratic Republic | 4.6 | 5.5 | 4.7 | 5.2 | 4.2% |
Pakistan | 1.5 | 0.9 | 0.9 | 1.2 | -7.2% |
China | 13.4 | 2.5 | 0.7 | 0.7 | -62.6% |
India | 0.6 | 12.2 | 10.7 | N/A | 322.3% |
Others | 1.5 | 0.9 | 1.1 | 1.1 | -9.8% |
Total | 33.4 | 46.4 | 47.1 | 46.7 | 11.8% |
Top Suppliers of Rice to Vietnam in 2022:
- Cambodia (33.0K tons)
- Myanmar (20.6K tons)
- Thailand (18.7K tons)
- Pakistan (4.7K tons)
- Lao People's Democratic Republic (4.6K tons)
- China (1.1K tons)
- India (0.1K tons)
This report provides an in-depth analysis of the rice market in Vietnam. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 27 - Rice, paddy
Country coverage:
- Vietnam
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Vietnam
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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Explore the top import markets for rice and discover key statistics and insights. Learn about the countries with the highest import value for rice, including China, the Philippines, Iran, and more.
This year, rice prices are forecast to ease, thanks primarily to rising production and exports from India, Thailand, Vietnam, China, and Pakistan. India dominates global trade, more than doubling its supplies at a competitive cost over the past two years.
Over 2020-2021 period, the global rice market displayed robust production indicators. Despite a pronounced shortage of shipping containers threatening to disrupt supplies to Africa, the global rice export market continues to expand. India maintains its status as the largest exporter, boasting the most competitive rice export prices.
Explore the top import markets for milled rice in 2023, including key statistics and trends. Discover which countries drive the global demand for rice imports.
Global rice consumption amounted to X tons in 2016 (in terms of milled rice weight), posting modest but robust gains from 2007-2016. The total consumption volume increased at an average annual rate of +X%. Over the period under review, the globa
Global rice consumption amounted to X thousand tons in 2015, increasing by +X% against the previous year level.
Global rice exports amounted to X thousand tons in 2015, descending by -X% against the previous year level.
Global rice imports amounted to X thousand tons in 2015, declining by -X% against the previous year level.
In 2015, the countries with the highest levels of rice production were China (X thousand tons), India (X thousand tons), Indonesia (X thousand tons), together accounting for X% of total output.
India, despite a slight drop in exports in 2014, continued its dominance in the global rice trade. In 2014, India exported X thousand tons of rice totaling X million USD, X% under the previous year. Its primary trading partner was Saudi Arab