Much room for farm and seafood exports to Singapore

Update: 10/4/2019

(VEN) - There is still much room for Vietnamese agricultural and seafood exports to Singapore, and once Vietnamese businesses actively join trade promotion activities they will increase opportunities to expand their export market and clients.

Vietnamese Trade Counselor in Singapore Nguyen Viet Chi underlined the points at a Business Matching for Seafood and Agricultural Products between Vietnamese and Singaporean businesses which was held during a recent visit to Singapore by officials of the Ministry of Industry and Trade and Vietnamese businesses.

Nguyen Viet Chi said that most agricultural and seafood in Singapore must be imported and that in these Vietnam has advantage and great opportunities.

Statistics from the Singaporean Statistical Office showed that Vietnamese agricultural and seafood exports to Singapore had increased by almost 20 percent per year in the recent three years reaching SGD279 million in 2011 and almost SGD400 million in 2013 and accounting for 2.5 percent of Singapore’s total agricultural and seafood imports in 2011 and 3.7 percent in 2013.

Vietnam currently is Singapore’s third largest rice seller following Thailand and India with SGD79 million worth of export revenue and 119,385 tonnes in 2013 accounting for 29 percent of this country’s total rice imports. Vietnamese rice exports to Singapore had amounted to about SGD53 million in the first eight months of this year.

Vietnam currently is Singapore’s third largest seafood seller following Indonesia and Malaysia, with SGD92 million worth of export revenue in 2013 accounting for 15 percent of Singapore’s total seafood imports. The figure had reached SGD65 million in the first eight months of this year.

Vietnam currently is Singapore’s eighth largest vegetable and fruit seller following Malaysia, China, Australia, Thailand, the US, India and Indonesia accounting for about three percent of Singapore’s total imports of this kind. The figure came to SGD30 million in the first eight months of this year.

“Singapore’s demand for agricultural products and seafood remains strong and Vietnamese businesses need to actively join the Ministry of Industry and Trade’s trade promotion delegations to better understand the taste and consumer need in Singapore,” said Nguyen Viet Chi.

Singapore Seafood Industry Association Chairman Goh Kah Meng said that Singapore imported 8-10,000 tonnes of frozen seafood from 27 countries per month of which Vietnam accounted for over 30 percent.

Vietnamese frozen fish is very popular in Singapore due to the reasonable price, good taste and geographical proximity.

During his visit to Japan from October 8-11, Vietnamese Deputy Prime Minister Nguyen Xuan Phuc attended a signing ceremony on a letter of intent between the Vietnamese Ministry of Justice and the JICA, regarding cooperation between the two parties in study on a project for technical support of Vietnamese law and justice reforms during the period from 2015-2020. He also attended a signing ceremony on a joint statement on enhancing the partnership between the Vietnam Academy of Science and Technology and the Japan Aerospace Exploration Agency (JAXA). Phuc also attended a ceremony to give the JICA President’s certificate of merit to Vietnamese Minister of Justice Ha Hung Cuong in recognition of his contributions to justice cooperation between the two countries.

“Apart from frozen fish, Singaporean importers like to buy Vietnamese dried fish which accounts for 5-10 percent of Singapore’s total dried fish imports. It is expected that dried fish imports from Vietnam will increase in the near future as Vietnam also has great potential like Thailand and Myanmar,” said Goh Kah Meng.

Kigimex Director Le Toan Thanh said that his company had exported fried anchovy to Singapore during the last 25 years and that they had realized the growing potential in the Singaporean market. He also said that by joining the recent trade promotion trip they met their traditional clients to review the quality of their products and demand in the short term. Le Toan Thanh said that they had surveyed the development in the Singaporean market and their rivals from many other countries in order to recognize Kigimex’s position in this market.

Kigimex exports more than 300 tonnes of dried anchovy to Singapore per year accounting for about 30 percent of Vietnamese anchovy exports to this market.

At the meeting businesses of the two countries achieved several cooperative agreements and they will conclude contracts on rice, fillet fish, vegetables and fruits for export to Singapore in the next few months./.

By Hung Cuong -

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