(1) There Is Huge Untapped Potential in The Vietnamese Rice Market

If we are discussing international trade in rice and we leave out Vietnamese rice, we are making a big mistake. Rice production and exports in Vietnam are expanding on a daily basis, making Vietnam one of the leading countries that rice wholesalers come to in order to make purchases. Let's investigate the many merits that rice produced in Vietnam possesses.

1. The Vietnamese rice development procedure

As a result of unrelenting efforts, the quality of rice produced in Vietnam has significantly increased, earning the confidence of numerous customers all over the world.

  • The evolution and growth of rice production in Vietnam

In Vietnam, there is evidence of rice farming dating back quite some time. Rice from Vietnam has been through numerous cycles of success and failure in order to establish a name for itself in the global market today.

At least 3,000 years have passed since rice was first cultivated in Vietnam, yet the cultivation of rice did not see significant change until almost 20 years ago when the government established a policy of contracting land and granting farmers autonomy.

In 1989, Vietnam became the first country in the world to export rice, transforming the nation from one that suffered from a severe lack of food to one that now had rice available for export.



  • More than 7 million tons of rice were shipped out of Vietnam in 2012, making the country the second-largest exporter of rice in the world.

As of right now, Vietnam is still among the leading countries when it comes to the export of rice. The overall volume and value of rice exports in the 11 months of 2022 reached 6.69 million tons and 3.24 billion USD, respectively, by the end of November 2022. This represents an increase of 16.3% in volume and an increase of 6.9% in value compared to the same time in 2021.

2. Specific characteristics of each type of Vietnamese rice

There are distinct qualities that are unique to each kind of rice. There is a myriad of categories into which one might place various kinds of rice. However, length is the most frequently used criterion in the classification process.

  • When it comes to high-end speciality rice: The ST lines, which comprise a separate rice line, are currently the most popular type of rice on the market. These lines are characterized as being fragrant and flexible. Additionally, the price of this rice line is higher than that of other varieties.

  • Common long-grain fragrant rice: This kind of rice is the most sought-after since its overall quality is superior to that of the ST line yet its pricing is more reasonable.


Rice with short grains is less flexible than rice with longer grains and is therefore not utilized to manufacture rice for everyday meals. However, short-grain rice is frequently used to make rice starch.

3. Important factors influence Vietnamese rice prices

Rice is sold at different prices around the country of Vietnam on a daily basis. There are a lot of factors that go into determining the cost of Vietnamese rice


  • The price of Vietnamese rice is influenced by the economic principle of supply and demand: Because the market economy is predicated on the rule of supply and demand, it should come as no surprise that this economic principle influences the price of rice. Rice farming is being negatively impacted by a variety of factors, including the weather and illnesses, which is leading to a drop in supply even as demand continues to rise. As a direct result of this, the price needs to be raised in order to compensate for the lost profit caused by the inadequate quantity of rice supplied by the suppliers.

  • Rice prices in Vietnam are affected by a number of factors, including the following: Rice of a superior grade, such as that with long grains or a pleasant aroma, or rice of a kind that originated in another country is typically exported and commands a greater price than other types of rice. As an example, the price of the ST line is higher as there are more rice varieties that are acknowledged for their superior quality.

  • Rice prices in Vietnam are affected by production costs in the following ways: The total cost of producing an item takes into account all of the components that go into making it, such as the raw materials and the machinery. Wholesalers are forced to raise their product prices in order to maintain their profit margins in the face of rising investment costs for supplies.

  • The price of rice in Vietnam is affected by government policies in the following ways: The actions of other nations can have an effect on the quality of rice produced in Vietnam, in addition to the policies of Vietnam's own government. Rice prices have been driven higher as a result of government intervention in the form of tariffs, quotas, and other export restrictions on the grain. 

  • For example, India, which is responsible for 40% of the total global rice trade, prohibits the export of broken rice and imposes an export tax of 20% on broken rice, not only will the price of rice increase in India, but it will also cause a 10% increase in the price of rice worldwide.



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