Vietnam was followed by Thailand with an export value of 33.63 million SGD, while India came third with 33.16 million SGD.

The decline in export value of regular brown rice and white rice was offset by the strong increase of sticky rice, milled or peeled fragrant rice and broken rice with turnovers of 3.79 million SGD, 18.06 million SGD and 575,000 SGD, respectively.

Particularly, besides Vietnam's traditional strong product of white rice, the turnovers of two other product groups - sticky rice and milled or peeled fragrant rice - also rose to dominate the majority of the market share in Singapore, reaching 80.08% and 73.33% respectively.

This was the main factor that helps Vietnam surpass Thailand and India to become the country with the largest rice market share in Singapore, the office asserted.

According to the office, Thailand, India, and Japan have been major competitors of Vietnam in Singapore. India's ban of rice export from July 20, 2023, has created good conditions for Vietnam to increase market share in Singapore.

However, the office advised Vietnamese rice exporters to continue improving their competitiveness and enhancing the quality of rice.

The office will organise more exhibitions to increase the presence of Vietnamese rice in this potential market.

The office cited data from the Accounting and Corporate Regulatory Authority (ACRA) of Singapore as showing that Singapore imported nearly 112.9 million SGD worth of rice in the first three months of this year, up 23.86% year on year.

In order to increase market share and sustainably maintain its top position, according to the office, all ministries, sectors, localities, associations, and businesses should join hands together in strengthening promotion of Vietnamese rice products and trademarks.

Alongside, the signing of a memorandum of understanding in rice trading between Vietnam and Singapore will also be an effective tool for Vietnam to maintain its position of No.1 rice supplier in Singapore, it added.

Rice exports soar to record 8.3 million tonnes

Vietnam’s rice production in 2023 stood at 43.5 million tonnes, an increase of 1.9%, adequately meeting domestic consumption, processing, animal feed production, and exports, which set a record of nearly 8.3 million tonnes.

Rice exports reach record high

Vietnam's rice exports soared to 8.13 million tons, valued at US$4.7 billion in 2023, setting a new national record, as per the General Department of Customs.

Hau Giang’s cylindrical sticky rice cake stuffed with banana: A culinary delight for Tet festival

These days, Residents in the rural area of the southern province of Hau Giang are busy making traditional cakes, known locally as ‘banh tet’ (cylindrical sticky rice cake), in preparation for the Tet (Lunar New Year) festival.

Vietnam cooperate on rice exports with Thailand and Philippines

Vietnam has agreed with Thailand as well as the Philippines to strengthen rice export cooperation to ensure regional and global food security.

Rice exports expected to hit $5B this year

Rice export volume and value during the first 11 months surpassed the figures of the entire 2022, and this year’s revenue is expected to reach $5 billion, authorities said.

Source: VNA