India and Thailand were the two largest exporters, with respective revenues of 148.19 million SGD (32.48%) and 137.75 million SGD (30.19%). The three largest exporters combined accounted for 90.93% of the Southeast Asian country’s rice market.

Several Vietnamese rice export categories witnessed remarkable growth, including glutinous rice (14.25 million SGD, a 4.6-fold increase), broken rice (2.6 million SGD, up 113.63%), and aromatic milled or husked rice (44.89 million SGD, up 65.73%).

However, white rice — Vietnam’s main rice category in the Singaporean market — posted only a slight increase of 0.24%, reaching 64.67 million SGD. Additionally, brown rice exports declined by 34.29% compared to the previous year.

Currently, Vietnam holds the largest market share in three rice categories: white rice (42.23%), aromatic milled or husked rice (65.73%), and glutinous rice (77.02%).

Cao Xuan Thang, Vietnam’s trade counsellor in Singapore, noted that during the first six months of 2024, Vietnam had risen to become the largest exporter.

However, the modest growth in the main category of white rice led to a significant decline in Vietnam’s total rice export turnover to Singapore in 2024. As such, Vietnam dropped to the third position, behind India and Thailand.

Regarding trade promotion, there were no large-scale promotional activities from Vietnamese rice businesses and associations, with most activities being implemented by the Vietnam Trade Office in Singapore.

Furthermore, Singaporean importers and distribution systems mainly import Vietnamese rice packaged with Singaporean domestic brands and packaging designs to facilitate local market sales.

Vietnamese-branded rice products are predominantly sold through small convenience stores or online agents catering to the Vietnamese community.