Vietnam maintains top position among Singapore’s rice supplier
Vietnam continued to be the top source of rice in Singapore, with 73.4 million SGD (over 54.6 million USD) worth of rice shipment to the nation during January-June, a year-on-year surge of 54.67%.
Vietnam has been the top source of rice in Singapore. (Photo: VNA)
Singapore (VNA) – Vietnam continued to be the top source of rice in Singapore, with 73.4 million SGD (over 54.6 million USD) worth of rice shipment to the nation during January-June, a year-on-year surge of 54.67%.
Statistics from the Vietnam Trade Office in Singapore showed that export turnover of glutinous rice to the city-state rose more than five fold to 8.9 million SGD, broken rice shot up 187.3% to 1.5 million SGD, and milled or husked fragrant rice soared 161.35% to 27.27 million SGD.
Meanwhile, earnings from white rice witnessed a slight increase of 1.91% to 34.5 million SGD, while revenue from regular brown rice fell 51.2% to 102,000 SGD.
Vietnamese rivals, Thailand and India, sold some 70.73 million SDG and 58.41 million SGD worth of rice to the nation.
Singapore’s increasing rice import is attributable to India’s rice export ban, and the country’s tourism recovery. During the six-month span, it spent nearly 224.5 million SGD on rice purchase, up 13.62% year-on-year.
According to Vietnamese trade counseller Cao Xuan Thang, major competitors of Vietnam in the Singaporean market, namely Thailand, India and Japan, have paid due attention to enhancing their product images, while Vietnamese firms have had no large-scale promotion campaign.
He stressed that Vietnamese exporters must strive to improve their competitive edge as well as rice quality, given the strict management of the rice market by the Singaporean government.
The signing of agreements and commitments at the governmental level regarding rice supply will contribute to stabilising Vietnamese rice shipment to Singapore, he suggested.
In the first three months of this year, Vietnam for the first time surpassed India and Thailand to become the largest rice exporter to Singapore by shipping 36.15 million SGD worth of rice, an increase of 80.46% over the same period in 2023./.
Rice exports could bring in a record turnover of 5 billion USD this year if the pace of shipment is maintained like at present, according to Vu Tuan Anh, CEO of GLE company, a rice exporter.
Vietnam has many opportunities to promote rice exports in the second half of this year, even though India could change its rice export policy in the next few months, according to the Ministry of Industry and Trade (MoIT).
Deputy Prime Minister Tran Luu Quang on July 17 requested the acceleration of the implementation of a project to develop 1 million hectares of specialised rice cultivation with high quality and low emissions associated with green growth in the Mekong Delta region from now to 2030.
Vietnam ranked as the 8th largest export market of Singapore with an export turnover of more than 11.7 billion SGD (9.06 billion USD) in the first five months of this year, four places higher than that of the same period last year.
Vietnamese Ambassador to the US Nguyen Quoc Dung reviewed key milestones in the bilateral relationship, underscoring the essential and sustained contribution by businesses from both countries, from the time before the normalisation of bilateral ties in 1995 until today, when the two sides are comprehensive stategic partners of each other.
According to targets adopted at the fifth Party Congress of the Management Board of the Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA) on June 22, the zones aim for average capital attraction of 8–10 million USD per hectare, with a 70% disbursement rate of registered capital achieved on schedule.
This year’s event attracted more than 350 entries from cities and provinces across the country, reflecting growing interest in and commitment to the Fourth Industrial Revolution.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
