The Philippines continues to be Viet Nam's largest rice import market, accounting for nearly 48% of the market share in the first two months of 2016.

According to the Ministry of Agriculture and Environment , rice exports in February 2026 are estimated at 640,000 tons, valued at US$289.4 million. For the first two months of 2026, rice exports reached 1.3 million tons, worth US$599.3 million, a 5% increase in volume but an 11.2% decrease in value compared to the same period last year.

The average export price of rice in the first two months of 2026 is estimated at 464.1 USD/ton, a decrease of 15.4% compared to the same period last year.

The Philippines is Viet Nam's largest rice market, accounting for 47.6% of the market share. China and Ghana are the next two largest markets, with market shares of 18.3% and 8.9% respectively.

Compared to the same period last year, the value of rice exports in January 2026 to the Philippines increased by 17.6%, to China increased 5.8 times, while exports to Ghana decreased by 31%.

Among the top 15 rice export markets, the value of rice exports increased most sharply in China (5.8 times) and decreased most sharply in Ivory Coast (down 90.9%).

According to export businesses, the price of Vietnamese 5% broken rice is currently being offered at 360-365 USD/ton, unchanged from last week. A trader in Ho Chi Minh City said that trading activity is slow because buyers are waiting for further price reductions, while domestic supply is increasing as the winter-spring harvest enters its peak period.

Preliminary data indicates that in February 2026, southern ports handled over 382,000 tons of rice, mostly exported to the Philippines and Africa. Although the conflict in Iran has not directly affected shipments from Viet Nam to Africa, traders confirm that shipping costs have increased significantly due to rising insurance fees and fuel prices.

While Vietnamese rice prices remained stable last week, Indian export rice prices saw a decline due to oversupply and a record depreciation of the rupee. Thai rice prices also showed a slight downward trend amid geopolitical tensions in the Middle East impacting shipping activities.

In India, the price of 5% broken parboiled rice fell to $348-353 per ton from $350-356 per ton last week. 5% broken white rice was listed at $346-351 per ton. The rupee's fall to a record low this week has helped exporters widen their profit margins and lower prices to attract international buyers.

However, Indian rice exports are facing significant logistical challenges. Approximately 400,000 tonnes of Basmati rice are currently stuck at ports or in transit. New export contracts have stalled due to freight costs doubling since the US-Israel-Iran conflict erupted.

In Thailand, the price of 5% broken rice also fell from $385 to $380 per ton. Traders in Bangkok believe that Thai rice is facing intense price competition from India, and are concerned that the El Niño phenomenon may reduce production in the near future.

The rice market is being directly impacted by the US-Israel and Iran conflict. The fighting has escalated after the US attacked an Iranian warship off the coast of Sri Lanka, paralyzing shipping through the Strait of Hormuz.

Global grain trading group Bunge said it is urgently seeking alternative transport routes to minimize disruption. Meanwhile, in Bangladesh, the government has instructed ministries to take urgent action to curb rising domestic rice prices, despite increased imports through both state and private channels.

Source: VTV