HCMC – Vietnam has maintained its position as the third-largest supplier of rice to Singapore, following India and Thailand, according to data from Singapore’s Accounting and Corporate Regulatory Authority (ACRA).
During the first nine months of this year, Singapore imported rice worth S$87.8 million (US$67.5 million) from Vietnam, down 11.5% year-on-year but still accounting for 25.3% of the country’s total rice imports.
White rice remained the most imported category from Vietnam, with an import value of S$53.2 million, up 10.1% year-on-year and making up 31% of the market. Vietnam ranked second in this segment after India, which held 43.8%.
Vietnam also led Singapore’s imports of fragrant and glutinous rice, accounting for 59.7% and 63.2% of the respective segments, despite a drop in value due to lower export prices.
According to the Vietnam Trade Office in Singapore, the city-state’s rice market has reached saturation, and Vietnamese rice continues to face strong competition from India, Thailand, and Japan. However, a potential rice trade agreement between Vietnam and Singapore could help stabilize Vietnam’s rice exports to this market in the coming time.
