Businesses urged to buy rice reserves as Philippines halts imports for 60 days

During the time the Philippines stops importing rice, the Ministry of Industry and Trade recommends that rice exporting enterprises buy and store to stabilize the price of raw rice for export in the coming time.

The Ministry of Industry and Trade has asked rice exporting enterprises to buy and stockpile to stabilize the price of raw rice for export in the coming time - Photo: BUU DAU

Mr. Le Ba Anh - Deputy Director of the Department of Quality, Processing and Market Development - said so at the regular press conference of the Ministry of Agriculture and Environment held on September 4.

Accordingly, Presidential Decree No. 93 of the Philippines suspends imports for 60 days, with the aim of protecting the Philippines' harvest season during this period.

"Ministry of Industry and Trade has sent official dispatches to associations, provinces, and businesses, including requests for rice exporting businesses to buy and store to stabilize the price of raw rice for export in the coming time.

Regarding Decree 93 of the President of the Philippines, although it suspends for 60 days, it requires the Philippine Department of Agriculture to re-evaluate the situation after 30 days, and may shorten this suspension order," Mr. Ba Anh added.

According to the Ministry of Agriculture and Environment, in August 2025, the export price of rice in the Asian rice market decreased simultaneously. Indian rice prices hit bottom since August 2022. Rice prices Thailand down due to sluggish demand.

Meanwhile, Vietnamese rice prices increased as buyers in the Philippines stocked up ahead of the import suspension, then turned around and fell again.

Specifically in Thailand, the price of 5% broken rice decreased by 16 USD/ton to 354 USD/ton; 100% white rice grade B decreased by 16 USD/ton to 364 USD/ton; 25% broken rice decreased sharply by 20 USD/ton to only 333 USD/ton.

In Vietnam, 5% broken rice recorded an upward trend to 395 USD/ton - the highest level on the market on August 20, then turned down, currently at 389 USD/ton; 25% broken rice increased to 371 USD/ton, currently down to 367 USD/ton; 100% broken rice increased to 339 USD/ton, currently down to 333 USD/ton; Jasmine premium fragrant rice increased to 561 USD/ton, currently down to 545 USD/ton.

In India, 5% broken rice prices fell $2 per tonne to $376 per tonne and 25% broken rice fell $2 per tonne to $360 per tonne.

On average, in August 2025, Thailand's key export rice 5% broken rice decreased by 17 USD/ton, Vietnam decreased by 12 USD/ton, Pakistan decreased sharply by 26 USD/ton compared to the average price in July 2025.

The Ministry of Agriculture and Environment also said that the rice export volume in August 2025 is estimated at 770,000 tons with a value of 344 million USD, bringing the total rice export volume and value in the first 8 months of 2025 to 6.3 million tons (up 2.2% over the same period last year) and 3.17 billion USD (down 17.5%).

The average export rice price in the first 8 months of 2025 is estimated at 504.9 USD/ton, down 19.3% over the same period in 2024.

The Philippines is Vietnam's largest rice consumer market with a market share of 42.4%. Ghana and Ivory Coast are the next two largest markets with market shares of 11.7% and 10.7%, respectively.

Compared to the same period last year, the value of rice exports in the first 7 months of 2025 to the Philippines market decreased by 15.6%, to the Ghana market increased by 44.4%, and to the Ivory Coast market increased by 88.9%.

Among the 15 largest export markets, rice export value increased the most in the Bangladesh market with an increase of 188.4 times and decreased the most in the Malaysia market with a decrease of 54.4%.

Source: https://baoquangninh.vn/de-nghi-doanh-nghiep-mua-du-tru-lua-gao-khi-philippines-dung-nhap-khau-60-ngay-3374494.html