Vietnam is facing tough competition against other rice exporters as there is plentiful supply in the global market, according to the country's food association.
Vietnam Food Association Chairman Pham Van Bay said there are not many large contracts left and the competition from Pakistan and Malaysia was "quite intense".
However, the association will purchase another 500,000 tons of rice to expand its current stockpile of more than 1 million tons in an attempt to prevent price drops, he said.
Vietnam's rice output reached 3 million tons in the just-ended winter-spring crop. The country is expected to ship 2 million tons of rice between April and June, after exporting more than 1.2 million tons in the first three months.