Recently, the Vietnamese Commerce Office in Singapore announced that Vietnam has surpassed India and Thailand for the first time, successfully becoming Singapore's largest rice exporter.

According to the Vietnamese news agency, Vietnam exported approximatelyRice worth 26.5 million US dollars, with a year-on-year growth of up to 80% and a market share of 32%. Among them, the demand for Vietnamese white rice, glutinous rice, and peeled or crushed fragrant rice in the Singapore market continues to grow, accounting for 80.08% and 73.33% of the market share, respectively. This significant growth has enabled Vietnam to successfully surpass traditional competitors Thailand and India, becoming the new leader in Singapore's rice market.

For a long time, Thailand, India, and Japan have been the main suppliers of Singapore's rice market, and they have engaged in fierce competition with Vietnam in the field of rice exports. However, India has sinceSince the rice export ban was issued in July 2023, it has created a rare opportunity for Vietnam to enter the Singapore market. Vietnamese companies quickly seized this opportunity and not only successfully expanded the market for other rice products such as glutinous rice and fragrant rice, but also further consolidated their market share by improving product quality and competitiveness.

In order to further enhance the visibility and influence of Vietnamese rice in the Singapore market, the Vietnamese Business Office in Singapore actively organizes various exhibition and sales activities, aiming to showcase the unique charm and advantages of Vietnamese rice to Singaporean consumers. Meanwhile, Vietnamese companies are constantly striving to improve the quality and taste of rice to meet the growing demand of Singaporean consumers.

According to the forecast of the Vietnamese Ministry of Agriculture and Rural Development, Vietnam's rice exports are expected to reach5 billion US dollars. This number not only exceeds last year's export volume, but also further consolidates Vietnam's position as a major global rice exporting country.

In addition to Singapore, Vietnamese rice is also exported to multiple countries and regions such as the Philippines, Indonesia, China, Ghana, and Malaysia. Among them, the Philippines is one of the main export markets for Vietnamese rice, and its rice exports to the Philippines account for half of Vietnam's total rice exportsMore than 38%.

However, the Vietnamese Ministry of Agriculture and Rural Development is also aware that although Vietnam's rice exports rank among the top in the world, it still faces challenges in market diversification and quality improvement. Countries are striving to increase procurement volume while also seeking to reduce dependence on specific countries to achieve supply diversification. Therefore, Vietnamese companies need to constantly innovate and improve product quality to adapt to the changes and demands of the global market.