Ho Chi Minh Times

Saturday, May 04, 2024

Vietnamese Rice Exports to Singapore Surge, Fueling Market Dominance

Vietnamese rice varieties gain traction, outpacing competitors in the Singaporean market.
Vietnam's rice exports to Singapore have experienced a remarkable surge, with figures reaching 36.15 million SGD, marking an 80.46% increase compared to the same period last year. While traditional rice varieties saw a decline, glutinous rice, fragrant rice, and broken rice witnessed significant growth, propelling Vietnam to the forefront of the Singaporean rice market.

Glutinous and fragrant rice varieties have particularly gained favor, capturing significant market shares. Despite fierce competition from Thailand, India, and Japan, Vietnamese exporters have strategically leveraged opportunities, capitalizing on India's ban on non-basmati rice exports to Singapore since July 2023.

However, challenges remain for Vietnamese exporters due to historical limitations in branding and product promotion. Singaporean importers tend to favor raw rice under local brands, posing hurdles for Vietnamese brands' acceptance. Despite these challenges, Vietnam's rice exports continue to flourish, showcasing the country's resilience and potential in the global market.
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