Vietnam maintains top position among Singapore’s rice supplier

Published 2024년 7월 31일

Tridge summary

In the first half of the year, Vietnam emerged as the leading rice supplier to Singapore, with exports valued at 73.4 million SGD, a 54.67% increase from the previous year. The growth was driven by significant increases in glutinous, broken, and fragrant rice exports, while white rice saw a slight rise and brown rice declined. Vietnam surpassed competitors Thailand and India, who exported 70.73 million SGD and 58.41 million SGD worth of rice, respectively. The surge in Singapore's rice imports is attributed to India's export ban and a recovery in tourism. Vietnamese trade officials highlight the importance of enhancing competitiveness and quality, alongside governmental agreements to ensure stable exports.

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

Original content

Vietnam continued to be the top source of rice in Singapore, with 73.4 million SGD (over 54.6 million USD) worth of rice shipment to the nation during January-June, a year-on-year surge of 54.67%. Statistics from the Vietnam Trade Office in Singapore showed that export turnover of glutinous rice to the city-state rose more than five fold to 8.9 million SGD, broken rice shot up 187.3% to 1.5 million SGD, and milled or husked fragrant rice soared 161.35% to 27.27 million SGD. Meanwhile, earnings from white rice witnessed a slight increase of 1.91% to 34.5 million SGD, while revenue from regular brown rice fell 51.2% to 102,000 SGD. Vietnamese rivals, Thailand and India, sold some 70.73 million SDG and 58.41 million SGD worth of rice to the nation. Singapore’s increasing rice import is attributable to India’s rice export ban, and the country’s tourism recovery. During the six-month span, it spent nearly 224.5 million SGD on rice purchase, up 13.62% year-on-year. According to ...

Source: UkrAgroConsult