Welcome to our comprehensive guide on How to Import Rice from Vietnam. As one of the world’s leading rice exporters, Vietnam has a lot to offer in terms of variety, quality, and competitive pricing. Whether you’re a seasoned importer or just starting out, this guide is designed to provide you with all the information you need to navigate the Vietnamese rice market effectively.

How to Import Rice from Vietnam: An Overview

Impressive Figures of Vietnamese Rice Exports

From a small country producing rice for domestic consumption, Vietnam has transformed into a leading rice exporter in the global market. The success of Vietnamese Rice Exports is evident in the impressive figures achieved over the years.

In the last decade, the quantity of Vietnamese rice exports has consistently stood at over 4 million tons per year. In 2012, Vietnam even exported a record 8 million tons of rice.

In 2020, Vietnam exported 6.25 million tons of rice, equivalent to 3.12 billion USD. This represented a decrease of 1.8% in quantity but an increase of 11.2% in value compared to the previous year¹.

In 2021, the volume of rice exported from Vietnam reached 6.2 million metric tons. The export value of rice in the first 6 months of 2023 was estimated at 2.3 billion USD, and it’s forecasted that Vietnam’s rice exports in 2023 will reach about 6.6-7 million tons, worth nearly $4 billion.

Overall, although the export quantity of Vietnamese rice fluctuates among different years, the trend of the Vietnamese rice market is decreasing in quantity but increasing in value and exporting high-value rice. This is because Vietnam has diminished the scale of rice production and focused on cultivating high-value rice varieties.

These figures highlight the significant role of Vietnam in the global rice market and the potential opportunities for importers interested in Importing Rice from Vietnam.

Major Importers of Vietnamese Rice

The Major Importers of Vietnamese Rice are the Philippines, China, and Ivory Coast. These three countries are the top consumers of Vietnamese rice, importing large quantities every year due to the reasonable prices and short distances to transport rice.

In the 2022/2023 marketing year, China imported about 4.6 million metric tons of rice, making it one of the leading countries for rice imports worldwide. The Philippines followed closely, importing about 3.9 million metric tons of rice that same year. The Ivory Coast also featured prominently on the list, importing a significant amount of rice from Vietnam.

In 2023, the Philippines was the largest buyer of Vietnamese rice products, accounting for 40.3 percent of the total rice export. China and Indonesia ranked second and third, accounting for 13.5 percent and 12.4 percent, respectively.

These figures highlight the significant role of Vietnam in the global rice market and the potential opportunities for businesses interested in Importing Rice from Vietnam. As the market continues to grow, understanding the major importers of Vietnamese rice can provide valuable insights for potential importers.

Main Growing Areas of Vietnamese Rice

The Mekong Delta is the leading area in cultivating Vietnamese rice for export. This region is home to popular rice varieties such as Jasmine, Japonica, and ST rice.

In 2020, rice from the Mekong Delta accounted for 90% of Vietnam’s rice exports. This impressive figure is due to several factors:

• The region’s growing areas are estimated at approximately 3963 thousand hectares, accounting for 54.4% of the total rice growing areas in Vietnam.
• The impressive rice production at over 29 thousand tons of rice.
• Many popular rice varieties such as Jasmine, Japonica, ST rice are cultivated in this region.
• There are many factories and exporting companies located in the Mekong Delta.

In the production period of 2020/2021, the production volume of rice in the Mekong Delta in Vietnam reached around 24.8 million metric tons. In 2023, the central Government set a target for the Mekong Delta to establish one million hectares of high-quality, low-carbon rice production by the year 2030.

Understanding the main growing areas of Vietnamese rice is crucial for anyone interested in Importing Rice from Vietnam. It provides insights into the quality of the rice and the potential for sustainable and profitable import ventures.

How to Import Rice from Vietnam: Popular Types

Vietnam offers a variety of rice types, each with its unique characteristics and uses. Before deciding on how to import rice from Vietnam, traders should consider which type they intend to import. Here are some popular Vietnamese rice varieties frequently traded in the global market:

High-Quality Delicacies

High-quality delicacies are the types of Vietnamese rice with the highest value. Owing to their special flavor and aroma, this type of rice is consumed by many markets like China, Malaysia, Australia, etc. The most famous high-quality delicacies are ST rice and Japonica. The average FOB price for this type of rice in 2024 is approximately $718-1390 per tonne.

Normal Aromatic Rice

Having more affordable prices than the high-quality delicacies and long-lasting fragrance, normal aromatic rice is preferred by many markets like China, Africa, the Middle East, and the Philippines. Jasmine, OM18, Nang Hoa, DT8-Dai Thom are popular normal aromatic rice varieties among traders, with the wholesale Vietnamese jasmine rice being widely distributed to the EU. The average FOB price for this type of rice in 2024 is approximately $300-540 per tonne.

Normal Long Grain Rice

Normal long-grain rice has a tender texture, light aroma, and affordable price that appeals to developing markets such as the Philippines, Africa, and Malaysia. OM5451, IR 504 are the two most well-known normal long-grain rice varieties. The average FOB price for this type of rice in 2024 is approximately $300-540 per tonne.

Sticky Rice

Vietnamese sticky rice (also known as glutinous rice from Vietnam) is the main ingredient in making many Asian traditional dishes, hence it is adored by many Asians, especially Chinese customers. The average FOB price for this type of rice in 2024 is approximately $300-540 per tonne.

How to Import Rice from Vietnam: Competitive Advantages of Vietnamese Rice

Vietnamese rice has several competitive advantages compared to rice from other countries. Here are some key points:

• Quality and Price: Vietnamese rice is known for its decent quality and affordable prices. In 2024, the average price of Thai Hom Mali rice is approximately $932-967 per tonne, while the price of Vietnamese Jasmine rice is more reasonable, at around $690 per tonne.
• Variety: Vietnam offers a diverse range of rice products, from high-quality varieties such as ST and Jasmine, to ordinary types like OM545 and IR504. This diversity gives traders more options for investment.
• Production: Vietnam has a large rice output thanks to its extensive rice cultivation area, estimated at about 1.5 million hectares. Vietnamese rice production has consistently posted impressive figures in recent years.
• Export Policies: Vietnam has numerous policies to support rice exports. The country has signed several trade agreements, such as the EU-Vietnam Free Trade Agreement (EVFTA), the Vietnam-Korea Free Trade Agreement (VKFTA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the UK-Vietnam Free Trade Agreement (UKVFTA). Specifically, under the EVFTA, the European Council has set a target to import 80,000 tonnes of Vietnamese rice into the EU, including 20,000 tonnes of unmilled rice, 30,000 tonnes of milled rice, and 30,000 tonnes of fragrant rice.

How to Import Rice from Vietnam: Factors Affecting the Prices of Vietnamese Rice

Understanding the major factors contributing to the export of Vietnamese rice is crucial for traders learning how to import rice from Vietnam. Here are some key factors:

• Production:  The production of rice has a direct effect on the supply of Vietnamese rice for export, hence indirectly affecting the prices. In the first 6 months of 2023, Vietnam’s rice export volume was estimated at 4.27 million tons, up 22.2% over the same period in 2022.
• Demand: Demand is a significant factor affecting the price of Vietnamese rice in the global market. If the demand for Vietnamese rice increases, the price will rise and vice versa. In 2023, Vietnam exported more than 8 million tonnes of rice, and the Philippines was the largest rice buyer, purchasing 3.13 million tonnes. This demand significantly influenced the price of Vietnamese rice in the global market
• Transportation: The cost of container transport for Vietnamese rice has increased dramatically, approximately fourfold compared to that before the pandemic. This rising cost has significantly increased the CIF price of Vietnamese rice. In 2023, the FOB prices of Vietnamese rice ranged from 718 USD per tonne to 1,390 USD per tonne. The increase in transportation costs has contributed to this price rise
• Supporting Policies: To maintain its position as a leading country in exporting rice, Vietnam has implemented many supporting policies to boost this market. Vietnam has also signed trade agreements like EVFTA, VKFTA, CPTPP, UK FTA, etc. In particular, Vietnamese aromatic rice is taxed 0% in the UK according to UKFTA. Hence, the price of Vietnamese rice to the UK is more affordable compared to rice from other countries

>> Read more: The Impact of EVFTA on Rice Export from Vietnam

How to Import Rice from Vietnam: Aspects to Consider to Find Reliable Suppliers

Finding a trustworthy exporter of Vietnamese rice is a crucial step in the import process. Here are some aspects to consider:

Features of a Reliable Vietnamese Rice Supplier

A reliable Vietnamese rice supplier should possess the following characteristics:

• Clear Location and Business License: The supplier must have factories, offices, showrooms with clear locations. Traders should consider paying a visit to the supplier’s office. Most importantly, the suppliers of Vietnamese rice must be certified by local authorities, so importers should ask them to provide the legal business licenses and other certificates.
• Certified Products: No traders want to buy low-quality Vietnamese rice, so the suppliers’ products need to be qualified by standard certifications like VN-STAMEQ, USDA Organic, FDA, FFL, Organic, Global Gap, TCVN, Viet Gap.
• Feedbacks from Former Buyers: The prestige of the Vietnamese rice suppliers can be indicated from the prior businesses with former traders. Hence, traders can also ask to check feedback from these importers to evaluate the suppliers’ products and services.

How to Identify a Scamming Vietnamese Rice Supplier

An exchange of Vietnamese rice can cost thousands of dollars, so no traders want to be deceived by scammers. To prevent scamming suppliers, traders should take into account the following aspects:

• Offering the Rice at Too Low a Price: Although the price of Vietnamese rice can fluctuate over time and vary among different suppliers, traders should be careful when suppliers offer products at an exceptionally low price. To deal with this problem, traders can contact different traders to find the most reasonable prices.
• Vague Information: Another sign of unreliable Vietnamese exporters is vague information about location, products, certifications. Traders should thoroughly check all the aspects before trading with any suppliers.
• Urging Payment: The payment of exchange must necessarily be divided into at least two times, one before the delivery and one after traders receive the products. However, if the suppliers urge traders to pay before receiving, then there must be some problems with the Vietnamese rice they provide.

Where to Find Reliable Vietnamese Rice Suppliers

Finding reliable Vietnamese rice suppliers is a crucial step in the import process. Here are some avenues you can explore:

Online B2B Marketplaces

Online B2B marketplaces like Alibaba, Go4worldbusiness, and Freshdi.com can be valuable resources.

• Alibaba: Alibaba is a global trading platform where you can connect with manufacturers, suppliers, and exporters from around the world, including those from Vietnam. It offers a wide range of products, including Vietnamese rice.
• Go4worldbusiness: Go4worldbusiness is an international platform that connects global buyers with suppliers. It provides a marketplace for a wide range of products, including Vietnamese rice.
• Freshdi.com: Freshdi.com is the first B2B platform in Vietnam that connects buyers and sellers in the field of agriculture, forestry, and seafood. You can visit this site to search for top-rated Vietnamese rice exporters at competitive prices.

Trade Fairs

Attending agriculture trade fairs like Vietnam Expo, Agriculture Trade Shows in Vietnam can help traders find a suitable and prestigious supplier of Vietnamese rice. Nevertheless, due to the pandemic, many trade fairs were canceled so traders can consider joining online trade fairs on the Internet.

Brokers

Another way to find reliable Vietnamese suppliers is by consulting brokers. They will help traders find trustworthy rice suppliers with high-quality products and reasonable prices. However, it costs money to pay the brokers to find suitable rice suppliers.

How to Import Rice from Vietnam:Important Requirements

Different countries will require different documents and certificates to import Vietnamese rice. This is one of the most important factors to consider when learning how to import rice from Vietnam. Traders should prepare these documents carefully before importing the products.

Requirements for Importers

In particular, the Philippines, as a major importing market of Vietnamese rice, requires importers to possess the following documents:

• Letter of Intent (Prescribed Format)
• Application Form
• Affidavit of Undertaking
• Suppliers Pro-forma Invoice
• 2017 Audited Financial Statement received stamped by BIR

All of these documents are stated in the NFA General Guidelines and prescribed by the Department of Trade and Industry Philippines (DTI).

Requirements for Vietnamese Rice Suppliers

On the other hand, Vietnamese rice suppliers must meet some important requirements to export rice:

• Having at least one standard warehouse to store the rice
• Having at least one standard milling factory
• Approval to export rice from the Vietnamese Government
• Bill of lading
• Cargo insurance
• Packing list

Some optional documents include:

• Certificate of quality
• Certificate of origin
• Phytosanitary certificate

These requirements ensure the quality and legality of the rice being exported, providing assurance to importers.

Freshdi.com's Guide to Rice Exportation

Freshdi.com's guide provides you with all the detailed information about the Vietnamese rice industry, covering various topics from the import market and popular rice varieties to price trends, finding exporters, and necessary considerations when exporting rice from Vietnam. This guide helps you understand the Vietnamese rice market, helping you succeed in trading with rice suppliers in Vietnam.

Chapter 1: Comprehensive Overview of Vietnam’s Rice Market Dive into the heart of Vietnam’s rice industry, exploring the vibrant import market, diverse rice varieties, competitive pricing, and key considerations for exporting rice from this Southeast Asian powerhouse.

Chapter 2: Certified Vietnam Rice Exporters List accredited by the Ministry of Industry and Trade - October 2023 Stay updated with the latest list and criteria of rice export-qualified enterprises recognized by Vietnam’s Ministry of Industry and Trade.

Chapter 3: Vietnam’s Top 10 Rice Exporters (January 2022) Uncover the dynamics of Vietnam’s rice industry, highlighting the top exporters and key market trends in January 2022.

Chapter 4: Top Vietnamese Rice Suppliers: A Comprehensive Guide 2023 Navigate through the top Vietnamese rice suppliers, their diverse product offerings, strategic locations, and tips for successful cooperation.

Chapter 5: How to Import Rice from Vietnam: A Step-by-Step Process Demystify the process of importing rice from Vietnam with insights into types, prices, suppliers, and more.

Chapter 6: How to Find Rice Suppliers in Vietnam Learn how to search and select reliable rice suppliers, along with essential tips when working with Vietnamese suppliers.

Chapter 7: Comprehensive Guide to Import Customs Procedures for Rice from Vietnam Master the import customs procedures for rice from Vietnam, including the necessary steps and key requirements for a smooth import process.

Chapter 8: Understanding Rice Export Taxation from Vietnam: A Comprehensive Guide Get a grasp on rice export taxation in Vietnam, including HS codes, export duties, and the impact of the EVFTA agreement.

Chapter 9: Top Types Of Rice Exported Abroad: Vietnam Rice Export Discover Vietnam’s fragrant rice varieties, their unique characteristics, and their global distribution.

Chapter 10: Forecast for Vietnam’s 2024 Rice Exports Gain an insightful look into Vietnam’s rice industry, its export forecast for 2024, and the underlying market dynamics.

Conclusion

Importing rice from Vietnam can be a lucrative business opportunity given the country’s status as a leading global rice exporter. This comprehensive guide has provided insights into the various aspects of importing rice from Vietnam, from understanding the major rice types and growing areas to identifying reliable suppliers and understanding the factors affecting rice prices.

Remember, successful importing lies in thorough research, careful planning, and strategic execution. With the right knowledge and resources, you can navigate the Vietnamese rice market effectively and make informed decisions that contribute to your business success.

Whether you’re a seasoned importer or just starting out, we hope this guide serves as a valuable resource in your journey to import rice from Vietnam. Happy trading!

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