In 2024, Vietnam will be the third largest rice exporter to Singapore with a turnover of 128.9 million SGD, accounting for 28.25% of the market share.
Statistics from the Singapore Enterprise Authority show that Vietnam's rice exports to the Singapore market in 2024 will continue to grow very well, reaching a turnover of about 128.9 million SGD (more than 95 million USD), an increase of 28.45% over the previous year.
The Vietnam Trade Office in Singapore said that some groups continued to see very strong increases, namely sticky rice (turnover of 14.25 million SGD, up more than 4.6 times), broken rice (turnover of 2.6 million SGD, up 113.63%) and milled or dehusked fragrant rice (turnover of 44.89 million SGD, up 65.73%). However, the main rice group of Vietnam in the Singapore market, white rice, only increased slightly by 0.24%, reaching a turnover of 64.67 million SGD. In addition, the group of brown rice also decreased compared to the same period last year (turnover of 322,000 SGD, down 34.29%).
In 2024, Vietnam will be the third largest rice exporter to Singapore with a turnover of SGD 128.9 million, accounting for 28.25% of the market share. India and Thailand are the two largest exporters with turnovers of SGD 148.19 million (32.48%) and SGD 137.75 million (30.19%), respectively. The total market share of the top three exporters accounts for 90.93% of the rice market in Singapore.
Currently, Vietnam holds the largest market share for three rice groups: white rice (42.23%); fragrant rice, milled or hulled (65.73%) and glutinous rice (77.02%). India is the country that absolutely dominates the market for parboiled rice (99.48%) and milled or hulled basmati rice (97.17%). Thailand holds the largest market share for homali brown rice (94.86%), homali white rice (97.35%), and broken rice (58.21%). For the regular brown rice group, Japan holds the largest market share (75.82%).
Thus, Thailand, India and Japan are Vietnam's biggest competitors in the Singapore rice market.
In the first six months of 2024, Vietnam rose to become the largest export partner. Although it maintained a high export rate for the groups of glutinous rice and milled/husked fragrant rice, the turnover of the main group of white rice only increased slightly, causing the total rice export turnover of Vietnam to Singapore in 2024 to decrease significantly.
According to PV/VTV
Source: https://doanhnghiepvn.vn/kinh-te/viet-nam-dung-thu-ba-ve-xuat-khau-gao-sang-singapore/20250123093735786
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