Rice prices drop sharply, Vietnamese businesses spend 1 billion USD on imports.

The Ministry of Agriculture and the Environment has just released a report on the production situation, market, and export and import of agricultural, forestry, and aquatic products for July and the first seven months of 2025. Accordingly, rice is one of the five items with the highest export turnover in the agricultural sector over the past seven months. Preliminary statistics show that in July, the country exported 750,000 tons of rice, reaching a value of 366.1 million USD, bringing the total export turnover of this item to 5.5 million tons and 2.81 billion USD in the first seven months of 2025. Compared to the same period last year, although rice exports increased by 3.1% in volume, they decreased sharply by 15.9% in value. The reason is that the average export price over the past seven months was only 514 USD/ton, a decrease of 18.4% compared to the same period in 2024. In terms of export markets, the Philippines remains the largest traditional customer, accounting for 42.6% ...