Vietnamese Commercial Counselor Chen Qiuqiong at the Embassy in Canada stated that Canada is one of the world's top seven rice importing countries, with an annual demand of around $500 million and a growing trend. Currently, Canada's rice imports primarily come from the United States (over 50%). Thanks to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Vietnam's rice market share is gradually increasing, with ST25 fragrant rice receiving a positive market response.
Recently, Vietnam's commercial office in Canada has actively supported domestic and overseas-invested rice import and export enterprises, aiming to further increase Vietnam's market share from the current 2%. Vietnam has already ranked among the top five rice suppliers to Canada.
At the recent SIAL exhibition in Toronto, Lotus Rice Company's jasmine rice, sushi rice, and ST25 fragrant rice products garnered special attention from Canadian importers, with these categories becoming increasingly popular in major Canadian cities.
Lotus Company's Sales Director Wu Huiyi expressed hope to connect with more customers and partners through trade exhibitions, expand export scale to Canada, and meet the market's massive consumer demand.
Jian Fa Trading Company Chairman Xu Wenhao pointed out that Vietnamese agricultural products, especially rice and rice noodle products, have enormous export potential to Canada. He believes Vietnamese products can fully compete with neighboring countries like Thailand and still have ample room for market expansion.
Against the backdrop of global trade volatility driving Canada's market diversification, Vietnamese agricultural product exporters, especially rice companies, need to proactively seize opportunities. Fully utilizing the free trade agreements both countries participate in will be key to rapidly increasing Vietnam's market share in the North American grain market.