In 2024, Vietnam achieved a record in both rice output and export value, with a record 9 million tons exported earning 5.7 billion USD, marking an all-time high average rice export price of over 600 USD/ton. The country ranked third in rice exports globally, following India and Thailand. The growth in the rice industry is attributed to a focus on high-quality and fragrant rice varieties. However, challenges are expected in 2025 due to increased competition from countries like India, which plan to export more rice, and potential reductions in imports by major rice importers like Indonesia and China. The average export price of rice is predicted to fall below 600 USD/ton due to an increase in the global rice supply.