5M rice exports to Malaysia up 177%

Photo: tapchitaichinh

$122.4 million worth of rice exports fourth among Top 5 items exported to Malaysia from January to May.

Vietnam shipped close to $122.4 million worth of rice products to Malaysia in the first five months of this year, up 177 per cent against the same period last year.

The sharp growth pushed rice to fourth place among the Top 5 Vietnamese exports to Malaysia between January and May. With revenue all exceeding $100 million, other items included phones and components, computers, electronic devices and components, steel and iron products, and glass products.

The Vietnam News Agency quoted the Vietnamese Trade Counsellor to Malaysia, Mr. Pham Quoc Anh, as saying on July 3 that the increase in rice exports to Malaysia is the result of a decline in rice supplies from other countries.

Vietnamese exporters took the opportunity to boost shipments of aromatic and glutinous rice, in which Vietnam has a price advantage, he added.

Improved rice trade promotion activities via exhibitions, trade fairs, and business networking events supported by commercial agencies also drove growth, he added.

He highlighted the building of the Vietnamese rice trademark in Malaysia, a market currently dominated by brands from domestic enterprises as well as those from Thailand and Japan.

Mr. Quoc Anh said the Vietnamese Trade Office in Malaysia has supported the Hanoi Trade Corporation (Hapro) in its partnership with the Malaysian-based ZNTEC company to build and promote Hapro-branded rice products for exclusive distribution in Sabah and Sarawak states.

The assistance also reached the Loc Troi Group, which is making efforts to build a trademark for its jasmine rice, he noted.

He believes Vietnamese rice will secure a strong foothold with well-recognized brands in Malaysia.