Vietnam rice export to Singapore is expected to grow rapidly. Furthermore, Singapore serves as an International Service Center, allowing Vietnamese products to access buyers from retail chains, hotel chains, international restaurants, and other businesses.
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An overview of Vietnam rice export to Singapore
The amount of Singapore rice imports is constantly increasing year after year, and Vietnam is one of the market’s top suppliers.
Statistics of Vietnam rice export to Singapore in recent years
Singapore is one of the ten markets in which Vietnam’s total rice exports have the highest turnover.
- The top three rice exporting nations to Singapore did not change significantly in 2020. The number of imports increased significantly, but in previous years, the Singapore market showed signals of reduced rice imports. Singapore’s rice imports expanded considerably in the fourth quarter of 2019, moving from a negative growth rate during the first nine months of 2019 (down 4.1%) to a positive growth rate in 2019 (up 11.98%). and grew rapidly in 2020, at a very high pace (30.6%)
- With a revenue of 67.557 million USD (up 7.12% from 2019) and a volume of approximately 86.679 tons, Vietnam rice exports to the Singapore market have also seen a significant increase (rose by 15.8 % over the same period in 2019).
Main products of Vietnam rice export to Singapore
One of the most popular varieties of rice Vietnam rice export to Singapore is jasmine rice. In terms of aroma and form, typical rice types such as Jasmine rice imported from Vietnam are offered for 5.75 USD/5kg in the FairPrice supermarket system, defeating luxury rice kinds such as Royal Umbrella (20.80 USD/10kg) and Golden Phoenix (20.30 USD/10kg) from Thailand. Experts also uncovered some luxury rice, such as Double FP, which costs 17.90 USD per kg. To summarize, the Singapore market prefers Vietnamese rice goods because of their affordable pricing and consistent quality.
Factors boost Vietnam rice export to Singapore
Many factors resulting from Vietnam’s and Singapore’s needs influence the amount of rice exported from Vietnam to Singapore.
Vietnam’s rice production
By September, the weather had improved and the crop structure was turning in a positive direction. As a result, the country’s winter-spring rice output reached 68.6 quintals/ha this year, up 2.2 quintals/ha from the winter-spring harvest in 2020. The output increased by 755.1 thousand tons to 20.63 million tons. If Singapore’s demand continues to rise, these numbers guarantee the volume of Vietnam rice export to Singapore.
Singapore’s rice demand
Singapore is a country whose food supply is entirely reliant on imported products. Singapore’s total rice import value is expected to reach 384.481 million USD in 2020, up 30.6 percent from the same time in 2019. Aside from Thailand and China’s competitiveness, Vietnam rice export to Singapore acquire several appealing chances.
Transportation
The port issue affects rice exports from Vietnam to Singapore. Due to the Covid-19 epidemic, however, port congestion and late delivery are unavoidable. Furthermore, the transportation charge for a 40 feet container is growing by over 1500 USD, which has a detrimental impact on the CIF price of Vietnam rice export to Singapore.
Ways to recognize reliable suppliers of Vietnam rice export to Singapore
Unprofessional suppliers are currently attempting to persuade customers to buy their inferior products, therefore buyers should be aware of warning signs to identify reputable Vietnamese rice exporters.
- Clear address
Suppliers that export rice from Vietnam to Singapore must have a clear address in order to trade and function. This is a crucial step in determining whether or not a company is trustworthy.
- A website with a professional appearance
Because clients come from all over the world, a quality website may help build trust. This is the location where they may learn about suppliers, goods, and the ordering procedure.
- Specialized certificates
HACCP, Sanitary and Phytosanitary of Plant Industry, Quality Certification, Fumigation, and Certificate of Origin are some of the important credentials that a supplier should have in order to export rice to Singapore.
Top suppliers of Vietnam rice export to Singapore
Here is a list of the top Vietnam rice export to Singapore suppliers that importers can trust and buy their agricultural products from.
Van Loi food processing corporation
Van Loi Food Processing One Member Co., Ltd specializes in supplying rice for export, particularly to Singapore. The product is regarded as high-quality Vietnamese export rice, and many agencies have placed their faith in it. The company’s total warehouse space is approximately 25,000 m2, with a milling facility capable of producing 500 tons of rice per day, ten rice drying oven systems capable of producing 500 tons of rice per day, and 13 rice polishing lines.
K-Agriculture Factory
K-Agriculture Plant is a well-developed agricultural products factory among several Vietnamese rice suppliers. K-Agriculture Factory exports rice, coffee, spices, and other agricultural products to over 100 countries worldwide. Customers trust this supplier of Vietnam rice export to Singapore because of the low pricing, high-quality products, and efficient cargo management. In addition, K-Agriculture Factory has HACCP and ISO certifications.
Hung Cuc Limited Corporation
Hung Cuc owns a system of large-scale and very modern rice milling and processing factories for export, as well as a system of very professional distribution warehouses, allowing it to meet a wide range of customer needs for different types and productions of rice from many major markets, including China, Russia, Africa, and Taiwan. Aside from common rice types, the firm concentrates on specialist rice varieties such as BC rice and DT 68 rice with high yields.