News

Vietnam becomes Singapore's largest rice supplier for the first time

Rice
Singapore
Vietnam
Market & Price Trends
Published Apr 22, 2024

Tridge summary

In the first quarter of the year, Vietnam's rice exports to Singapore experienced a remarkable 80.46% increase, reaching a total value of 36.15 million Singapore dollars. This surge, particularly in glutinous and fragrant rice exports, has positioned Vietnam as the leading rice supplier in the Singapore market, overtaking traditional exporters like Thailand and India. The growth in Vietnam's rice exports has been further facilitated by India's recent restrictions on rice exports, which excluded basmati rice. Through promotional efforts by the Vietnamese Trade Office in Singapore, Vietnam aims to continue expanding its rice export footprint in the region.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to statistics from the Singapore Accounting and Corporate Regulatory Authority (ACRA), in the first three months of this year, Vietnam's rice exports to Singapore maintained a good growth momentum, with exports reaching 36.15 million Singapore dollars, an increase of 80.46% year-on-year. Among them, glutinous rice exports reached 3.79 million Singapore dollars, an increase of 221.76%; fragrant rice exports reached 18.06 million Singapore dollars, an increase of 291.17%, and broken rice exports reached 57.5 trillion Singapore dollars. It is worth noting that in addition to white rice, which is Vietnam's advantage product, glutinous rice and fragrant rice account for a large proportion of the Singapore market, 80.08% and 73.33% respectively. This is what makes Vietnam surpass Thailand and India and have the largest share of the rice market in Singapore. According to the Vietnamese Embassy in Singapore, In the Singapore rice market, Thailand, India and Japan are becoming ...
Source: Foodmate
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