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Sunday, June 16, 2024

Vietnam among Singapore’s top five seafood suppliers

The Saigon Times

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HCMC – Vietnam made it to the list of the top five seafood exporters to Singapore in the first quarter of 2024, according to the Vietnam Trade Office in Singapore.

During this period, Vietnam’s seafood exports to Singapore totaled over SGD24 million, a 3.22% increase compared to the same period last year.

Despite an overall decline in seafood shipments to Singapore, which encompassed nearly 100 countries and territories, with total spending reaching nearly SGD340 million, down 5.67% year-on-year, Vietnam’s presence in the market has notably strengthened.

Among the top 15 seafood-exporting countries to Singapore, Malaysia maintains its lead, followed by Norway, Indonesia, and China. Vietnam’s ascent to the fifth position, surpassing Japan, is a significant milestone.

The market shares of the top six seafood-exporting countries are as follows: Malaysia at 13.6%, Norway at 11.45%, Indonesia at 11.13%, China at 10.15%, Vietnam at 8.58%, and Japan at 8.34%.

To further boost seafood exports to Singapore and beyond, the Vietnam Trade Office in Singapore recommended that Vietnamese seafood businesses leverage free trade agreements and adhere to market regulations, particularly concerning quality standards and product labeling.

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