Singapore has become increasingly reliant on Vietnamese rice imports, with Vietnam surpassing traditional suppliers like Thailand and India.

Vietnam is now Singapore’s leading rice supplier. Photo: Buu Dau / Tuoi Tre 

Data from Singapore’s enterprise regulator shows Vietnamese white rice exports to the city-state reached US$26 million in the first three months of 2024, reflecting an impressive year-on-year increase of 80.46 percent and positioning Vietnam as the leading rice exporter to Singapore.

Aside from white rice, Vietnamese glutinous rice and fragrant milled rice exports have also grown 80.08 percent and 73.33 percent year on year, respectively.

According to the Vietnam Trade Office in Singapore, Vietnam’s dominance in the market is owing, at least in part, to India’s rice export ban and the recovery of tourism in Singapore.

Sill, in order to solidify their dominance, Vietnamese rice exporters need to remain vigilant.

Cao Xuan Thang, first secretary and commercial counselor at the Vietnamese Embassy in Singapore, emphasized the importance of cooperation between Vietnamese authorities and business associations.

This collaboration is crucial in upholding compliance with Singaporean regulations among Vietnamese rice exporters, ensuring their active engagement in trade promotion initiatives, promoting local brands in the market, and sustaining superior product quality.

Thang also highlighted the significance of brand development, underscoring that competitors in the region, such as Thailand and Japan, allocate substantial resources to enhance their product image.

They also actively forge partnerships for import, distribution, and brand safeguarding.

In contrast, Vietnamese companies often neglect marketing and product promotion due to limited resources.

This has led to many Singaporean importers purchasing raw Vietnamese rice only to repackage and distribute it locally under their own brands.

To achieve sustainable success, Vietnamese companies must prioritize building brand recognition.

Maintaining a strong market share in a demanding and premium market like Singapore requires strict adherence to Singaporean regulations, Thang shared, urging businesses and trade associations to stay updated on these rules.

Furthermore, a memorandum of understanding on rice between Vietnam and Singapore could be a valuable tool in securing Vietnam’s leading position in the Singaporean rice market.

Kim Thoa (Source: tuoitrenews.vn)