Vietnamese rice prices soar as Philippines bans imports from September 1

This marks a $9 increase since the start of August, VFA reported on Thursday.

Vietnam’s five-percent broken rice now commands a premium of $11 per metric ton over comparable rice from India ($380), Pakistan ($369), and Thailand ($368).

The halt in imports was announced on Wednesday by the Philippines, the world’s largest rice importer and Vietnam’s top rice buyer, which plans to suspend purchases for two months starting September 1 to protect local farmers during their peak harvest period.

This imminent policy change is prompting a rush among Philippine importers to secure rice supplies in August, even as Vietnam’s own supplies are limited due to the late stage of the summer-autumn harvest, further pushing up prices.

In light of the current demand–supply dynamics, exporters anticipate that the price of fragrant rice – a key Vietnamese export – may climb by a further $10 to $15 per metric ton during August.

According to official data, Vietnam exported 5.5 million metric tons of rice worth $2.81 billion in the first seven months of 2025, up 3.1 percent in volume but down 15.9 percent in value year on year, with the average price falling 18.4 percent to $514 per metric ton.

The Philippines remained the largest market for Vietnamese rice, accounting for 42.6 percent of exports, followed by Ghana at 11.1 percent and Ivory Coast at 10.6 percent, according to the ministry.