By the end of October, Vietnamese 5 per cent broken white rice was being offered at USD 470-480 per tonne, up from USD 440-450 a week earlier. This was the highest level in nearly two years, bringing Vietnamese rice prices in line with those of Thailand and significantly above India's USD 389-394 per tonne.
The USD 30-per-tonne increase in just one week was one of the most notable developments in the export rice market since the beginning of the year.
At the start of October, Vietnamese 5 per cent broken rice traded at USD 420-422 per tonne, while 25 per cent broken rice was priced at USD 401-405. Fragrant 5 per cent broken rice was around USD 470 per tonne, and Jasmine rice ranged from USD 513 to USD 517.
For several months, Vietnamese rice prices had faced persistent downward pressure due to abundant global supplies, intensifying competition among major exporters and periods of weaker import demand.
Rice exporters and importers said tighter domestic supply was a key factor behind the recent price surge. The autumn-winter rice harvest is not expected to begin until late November, with output forecast to be about half that of the summer-autumn crop.
On the global market, concerns about the potential impact of El Niño on rice production from 2027 have also prompted importers to pay closer attention to securing supplies.
According to Oryza.com, the index tracking the weighted average price of global white rice exports ended the week in mid-October at USD 471 per tonne, up USD 7 from the previous week and USD 17 from a month earlier. It was USD 69 higher than the same period last year.
Despite signs of a recovery in export prices, Vietnam's rice shipments remained under pressure for much of this year.
The Vietnam Food Association (VFA) said the country exported 6.3 million tonnes of rice in the first nine months, earning more than USD 3 billion. This represented year-on-year declines of 6.7 per cent in volume and 12 per cent in value compared with the same period in 2025.
However, exports showed signs of recovery in October. Estimates from the Ministry of Industry and Trade's Import-Export Department put shipments for the month at 475,000 tonnes, worth USD 253 million, up 9.6 per cent in volume and 13.3 per cent in value from September.
Compared with October 2025, export volume and value rose by 37.2 per cent and 39.3 per cent, respectively.
In the first 10 months of the year, Vietnam exported 6.83 million tonnes of rice worth USD 3.3 billion, down 4.7 per cent in volume and 9.8 per cent in value year on year.
