The Vietnam Trade Office in Singapore and the Ministry of Industry and Trade released the figures on July 24. Singapore’s total rice import value for the first six months reached about 248.9 million Singaporean dollars, up 10.8 percent year-on-year.
While major suppliers such as India and Thailand posted growth, Vietnam’s exports dropped to 60.9 million Singaporean dollars—down more than 17 percent—capturing only 24.5 percent of the market, significantly lower than India’s 35.3 percent and Thailand’s 30.6 percent. Vietnam now ranks third among Singapore’s top rice suppliers, slipping from second place a year earlier.
The decline comes as Singapore sharply increased imports of white rice—up 83.7 percent—a category that accounts for the bulk of Vietnam’s shipments to the country. Despite higher volumes, Vietnam’s export earnings fell due to a steep drop in prices. According to the Ministry of Agriculture and Environment, Vietnam’s average export price in the first half of 2025 was just US$517.5 per ton, an 18.4 percent decline year-on-year.
The trade office noted that Singapore currently imports rice from more than 20 partners, with a highly diversified white rice segment. India dominates with white and parboiled rice, while Thailand is known for its Hom Mali fragrant rice. Vietnam holds advantages in quality and product diversity but is under growing pressure in both price and market share.
The Vietnam Trade Office in Singapore said that in a market with relatively stable demand, maintaining and expanding Vietnam’s foothold will depend on its ability to compete on both price and quality. Singapore has proposed a bilateral rice trade agreement with Vietnam, expected to help stabilize and safeguard this critical export channel in the coming period.
