Surpassing Thailand and India, Vietnam became the largest rice exporter to Singapore

Published 2024년 4월 20일

Tridge summary

In the first quarter, Singapore's rice imports surged by 23.86% from the previous year, reaching nearly 112.9 million SGD, with Vietnam becoming the top supplier for the first time. Vietnam's imports to Singapore were valued at 36.15 million SGD, capturing a 32.03% market share, an increase of 80.46% over the same period in 2023. This growth is attributed to the diversity of Vietnamese rice, India's export ban on non-basmati rice, and Vietnam's adherence to high quality and output standards. Additionally, a Memorandum of Understanding (MOU) between Vietnam and Singapore aims to keep Vietnamese rice at the forefront of the Singapore market through enhanced trade promotion and brand awareness.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The above information was recently announced by the Singapore Business Administration. Accordingly, in the first quarter, Singapore's total value of rice imports from the world reached nearly 112.9 million SGD, up 23.86% over the same period last year. Of which, Singapore imported 36.15 million SGD from Vietnam, an increase of 80.46% over the same period in 2023, making Vietnam the largest rice supplier in this market for the first time with 32.03% market share. Followed by India and Thailand with turnover of 33.63 million SGD (29.7% market share) and 33.16 million SGD (29.3% market share), respectively. Vietnamese rice prevails in the "lion island" market mainly thanks to the diversity of Vietnamese products. In addition to white rice of outstanding quality, glutinous rice and milled fragrant rice are popular, reaching a market share of up to 80% in Singapore. From 2023 until now, India's ban on exporting rice varieties other than basmati has helped Vietnam increase its market ...

Source: VNExpress