Vietnam maintains the number 1 position in rice exports to the Singapore market

Published 2024년 7월 27일

Tridge summary

In the first half of 2024, Vietnam emerged as the top rice exporter to Singapore, capturing 32.69% of the market share with an export turnover of 73.40 million SGD, marking a 54.67% increase from the previous year. The growth was driven by significant increases in sticky rice, broken rice, and milled or peeled fragrant rice exports. Vietnam leads in market share for white rice, milled or peeled fragrant rice, and sticky rice in Singapore. The rise in Singapore's rice import demand is due to India's rice export ban and the recovery of tourism. Despite facing strong competition from Thailand, India, and Japan, Vietnamese rice businesses must improve their competitiveness and quality to sustain their market position. Government-level agreements could help stabilize Vietnam's rice export turnover to Singapore, which also acts as a global export transit hub.

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

Original content

According to a Vietnam News Agency reporter in Singapore, in the first 6 months of 2024, Vietnam still holds the position of the largest rice exporter to Singapore, accounting for 32.69% of the market share. This is achieved thanks to a strong increase in export turnover, reaching a value of 73.40 million SGD (more than 54.6 million USD), an increase of 54.67% over the same period in 2023. Statistics from the Vietnam Embassy in Singapore show that some groups continue to see very strong increases, including sticky rice (turnover of 8.9 million SGD, an increase of more than 5 times), broken rice (turnover of 8.9 million SGD, an increase of more than 5 times), broken rice ( turnover of 1.5 million SGD, an increase of 187.3%) and milled or peeled fragrant rice (turnover of 27.27 million SGD, an increase of 161.35%). Vietnam's main rice group in the Singapore market, white rice, increased slightly at 1.91%, reaching a turnover of 34.5 million SGD. The only group with a decrease ...

Source: Vietstock