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| Vietnam remains as the largest rice exporter to Singapore (Photo: VGP) |
These figures can be put down to a sharp increase occurring in export turnover, reaching a value of SGD73.40 million, equal to over US$54.6 million, marking an increase of 54.67% over the same period from last year.
Statistics released by the Trade Office of the Vietnamese Embassy in Singapore indicate that the country currently holds the largest market share in the city-island state for three rice groups. This includes white rice accounting for 48.62%; fragrant rice, milled, or peeled accounting for 69.43%; and sticky rice making up 78.05% of the total. Following Vietnam are Thailand and India with rice export turnover of SGD70.73 million and SGD58.41 million, respectively. The total turnover of the top three exporting countries accounts for 90.21% of the rice market share in Singapore.
This strong increase seen in Singapore's rice import demand from 2023 continued in the first half of the year, mainly due to India's ban on rice exports and the rapid recovery recorded in tourist arrivals to Singapore, a factor causing the country to increase rice imports.
Statistics compiled by the Accounting and Corporate Regulatory Authority (ACRA) indicate that the total value of global rice imports from the Singapore market enjoyed strong increases at 13.62% over the same period from last year, hitting nearly SGD224.5 million during the reviewed period.
According to Cao Xuan Thang, trade counselor and head of the Vietnam Trade Office in Singapore, countries such as Thailand, India, and Japan are currently Vietnam's biggest competitors in the Singaporean rice market. These nations are highly interested in investing in promoting product images and have agreements with importers and distributors in place to keep the names and brands of their rice products.
Meanwhile, the promotion and introduction of Vietnamese rice products in the market is still relatively little, meaning that there are no large-scale promotional activities of enterprises focusing on rice products. Therefore, importers and distribution systems in Singapore often import Vietnamese rice with Singaporean packaging, designs, and domestic brands for easy consumption in the market.
Thang emphasized that Vietnamese rice enterprises must continue to strive to improve their competitiveness and the quality of their rice products as the Singaporean rice market is closely managed by the Singaporean Government, as demonstrated by the Singaporean Government's review and issuance of import licenses. This can be seen through actions such as the direct inspection and control of rice quality before it is released to the market.
According to him, the signing of agreements and commitments at a governmental level between the two countries on rice supply could contribute to stabilizing Vietnamese rice export turnover to Singapore.
Local rice products are not only consumed in the Singaporean market, but also exported by Singaporean enterprises to other countries around the world. Therefore, firms need to take heed of the important role of Singapore as a transit area, not just the area home to nearly six million people of the city state, Thang added.
Vietnamese coffee export prices to UK surge
Vietnam is the second-largest supplier of coffee to the United Kingdom (UK). The average export price of Vietnamese coffee to the UK in the first half of 2024 reached 3,941 USD per tonne, an increase of 68.4% compared to the same period last year, the Vietnam News Agency reported.
According to data from the General Department of Customs, Vietnam’s coffee exports to the UK in June 2024 totalled 2,180 tonnes, valued at 9.1 million USD, down 44.6% in volume and 17.5% in value compared to June 2023. The significant drop in coffee volume has led to a sharp increase in prices.
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| A farmer harvests coffee in Kon Tum province (Photo: VNA) |
The UK imports coffee from 94 countries and territories worldwide. The primary coffee suppliers to the UK market include Brazil, Vietnam, Germany, Italy, and Colombia.
According to statistics from the International Trade Centre (ITC), in the first five months of 2024, the UK imported 94,210 tonnes of coffee from the world, worth 553 million USD, an increase of 8.1% in volume and 2.6% in value compared to the same period last year.
The average import price of coffee into the UK from the world reached 5,870 USD per tonne, down 5.2% compared to the same period last year. Notably, the average import price of coffee from Brazil, Germany, and Colombia decreased; however, the average import price from Vietnam surged by 45.4% to 3,378 USD per tonne.
Brazil is the largest coffee supplier to the UK in the first five months of 2024, with a volume of approximately 37,470 tonnes, valued at 128.81 million USD, an increase of 93.8% in volume and 45.1% in value.
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| Vietnamese coffee export prices to UK surge (Photo: VOV) |
Vietnam followed as the second-largest coffee supplier to the UK in the first five months of 2024, with a volume of 15,330 tonnes, valued at 51.79 million USD, a decrease of 22.8% in volume but an increase of 12.2% in value compared to the same period last year.
Vietnam’s share of total UK coffee imports from the world decreased from 22.8% in the first five months of 2023 to 16.27% in the first five months of 2024. During the first five months of 2024, the UK increased its coffee imports from Germany and Italy but reduced imports from Colombia.
Vietnamese fallen soldiers commemorated in Phnom Penh
The Vietnamese Embassy in Cambodia and the Cambodian Ministry of National Defence jointly organised a ceremony at the Vietnam-Cambodia friendship monument in Phnom Penh on July 26, observing a minute of silence and offering flowers and incense to commemorate fallen heroes, according to Vietnam News Agency.
Speaking at the event held as part of activities on the occasion of the 77th anniversary of Vietnam's War Invalids and Martyrs Day (July 27, 1947 – 2024), Vietnamese Ambassador Nguyen Huy Tang affirmed that the assistance provided by the Vietnamese military and people to the Cambodian military and people in the struggle to overthrow the genocidal Pol Pot regime on January 7, 1979, was an event of immense significance for both nations.
He acknowledged the sacrifices made by Vietnamese volunteer soldiers as well as Cambodian soldiers and people for the independence of Cambodia. The Vietnam-Cambodia friendship monument in the capital, along with other memorials across Cambodia, stands as a testament to the shared sacrifices.
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| Delegations of the Vietnamese Embassy in Cambodia and the Cambodian Ministry of National Defence take part in the commemorative event at the Vietnam-Cambodia friendship monument in Phnom Penh. (Photo: VNA) |
The diplomat said that the annual commemoration on July 27 not only honours Vietnamese martyrs but also pays tribute to Cambodian soldiers who laid down their lives for their country's independence.
Tang said he believed that based on the deep and enduring bond between the two countries, they will continue to stand side by side and develop together for the sake of their people.
Leading a delegation of senior officers from the Royal Cambodian Armed Forces, General Yun Min, Secretary of State at the Ministry of National Defence, expressed his honour to participate in the event, which he said reminded him and his comrades of related memories, Vietnam's significant assistance, and the two nations’ long-standing relationship and mutual support.
He also took this occasion to express his heartfelt condolences to the Vietnamese military and people on the passing of their outstanding leader, General Secretary of the Communist Party of Vietnam Nguyen Phu Trong.
Vietnam's ports ready to welcome megaships
Vietnam's port system is now equipped to handle the largest ships in the world, attracting operations from 40 major international shipping lines, said the Vietnam News Agency.
According to the Vietnam Maritime Administration (VINAMARINE), out of the country’s 34 ports, 30 are capable of accommodating large-tonnage vessels. Vietnam currently boasts three ports - Ho Chi Minh City, Hai Phong, and Cai Mep - Thi Vai - among the top 50 container ports globally by throughput.
Le Do Muoi, Director of VINAMARINE, highlighted that accommodating large ships has significantly enhanced operational efficiency for shipping companies. This has reduced transport costs and increased the competitiveness of Vietnamese ports, thereby contributing to local and regional economic and social development.
Over the past five years, the number of large-tonnage vessels docking at approved ports has notably increased, from 4,538 in 2019 to 5,474 in 2023. Additionally, maritime assurance fees and tonnage fees at ports handling large vessels have risen from nearly 2.78 trillion VND (111.2 million USD) to 3.45 trillion VND in the same period.
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A ship docking at Tan Cang-Cai Mep Thi Vai port, Phu My town, Ba Ria - Vung Tau province.
(Photo: VNA) |
In terms of cargo volume, the first six months of 2024 saw more than 427.64 million tonnes handled, up 18% year-on-year. Container cargo alone was estimated at over 14.39 million TEUs, a year on year rise of 22%.
Muoi noted that current industry plans include the development of major ports to accommodate large ships. The maritime sector will review the feasibility of old ports handling large vessels, assessing safety and implementing necessary regulations.
VINAMARINE is also proposing a comprehensive study on the handling of large-tonnage ships at Vietnamese ports. This will involve standardising procedures and methods to ensure that existing infrastructure can safely and legally accommodate large vessels.
Deputy Minister of Transport Nguyen Xuan Sang said expanding maritime and waterway transport not only reduces logistics costs but also aligns with the government's green development goals, reinforcing Vietnam's commitment at the 26th United Nations Climate Change Conference (COP26)./.