Singapore rice imports

Update: June, 12/2014 - 07:55
The number of rice imported from Viet Nam increased four times from 2008 to 2013 and now accounts for 28 percent of the rice market in Singapore. — Photo 24h

HA NOI (VNS) — A number of Singaporean businesses paid due attention to Vietnamese rice, especially Jasmine rice, and affirmed that they will continue to import the Vietnamese rice.

The statement was made during a two-day working visit to Singapore early this week led by Deputy Minister of Industry and Trade Tran Tuan Anh.

During the meeting with Singaporean businesses, Chairman of the Singapore Rice General Importers Association Andrew Tan stated that the volume of rice imported by Singapore from Viet Nam has surged four times during the 2008–13 period. Vietnamese rice currently accounts for 28 per cent of Singapore's import market share.

Tan noted that for the last few years, price of Vietnamese rice has been competitive and its quality has also improved significantly owing to the application of modern technology.

Anh claimed that Singapore has remained a potential market for Vietnamese rice as all varieties of Vietnamese rice meet Singapore's standards.

In addition to importing rice for domestic demands, Singapore is also considered an ASEAN commercial hub and a gateway for Vietnamese rice to enter Indonesia, the Philippines and a number of African markets, Anh added.

Singapore has remained one of Viet Nam's leading trade partners, with a bilateral trade of US$8.4 billion last year, of which $2.7 billion came from Viet Nam's exports to Singapore.

Bilateral trade between the two countries in the first four months this year surged 21.2 per cent to nearly $3.3 billion, with agricultural produce of rice, pepper and seafood being Vietnamese staple key exports. — VNS