VINAGRI News - Vietnam’s rice exports increased in volume during the first two months of 2026, but export revenues declined due to a sharp drop in average prices. While the Philippines remained the largest buyer, shipments to China surged significantly, even as trading activity slowed amid rising domestic supply and cautious buying.
Summary:
> Vietnam exported 1.3 million tonnes of rice worth $599.3 million in the first two months of 2026.
> Export volume rose 5% year-on-year, while value fell 11.2% due to lower prices.
> Average export price dropped 15.4% to $464.1/tonne.
> Philippines (47.6%) remained the largest market, followed by China (18.3%) and Ghana (8.9%).
> Exports to China surged 5.8 times, while shipments to Côte d’Ivoire plunged 90.9%.
> Vietnam’s 5% broken rice is offered at $360 - 365/tonne, with trading slowing as buyers expect further price declines.
> Freight costs are rising due to higher insurance premiums and fuel prices amid Middle East tensions.
Vietnam’s Ministry of Agriculture and Environment reported that rice exports in February 2026 were estimated at 640,000 tonnes, with a value of $289.4 million. In the first two months of 2026, the country exported approximately 1.3 million tonnes of rice worth $599.3 million, representing a 5% increase in volume but an 11.2% decline in value compared with the same period last year.
The average export price during the January - February period was estimated at $464.1 per tonne, down 15.4% year-on-year, reflecting weaker global rice prices.
The Philippines remained Vietnam’s largest rice market, accounting for 47.6% of total exports. China and Ghana ranked as the second and third largest markets, with market shares of 18.3% and 8.9%, respectively.
Compared with the same period last year, the value of rice exports in January 2026 to the Philippines increased by 17.6%, while shipments to China surged 5.8 times. In contrast, exports to Ghana declined by 31%.
Among the 15 largest export destinations, export value recorded the strongest growth in China, which increased 5.8 times, while the sharpest decline was seen in Côte d’Ivoire, where exports fell 90.9%.
According to exporters, Vietnam’s 5% broken rice is currently being offered at $360 - 365 per tonne, unchanged from the previous week. A trader in Ho Chi Minh City said trading activity has slowed as buyers are waiting for prices to decline further, while domestic supply is increasing as the Winter - Spring harvest enters its peak period.
Preliminary data also shows that southern Vietnamese ports handled more than 382,000 tonnes of rice in February 2026, with most shipments destined for the Philippines and African markets. Although the Iran conflict has not yet directly disrupted shipments from Vietnam to Africa, traders confirmed that freight costs have risen significantly due to higher insurance premiums and escalating fuel prices.
NPK/ Vinagri News
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