Vietnamese rice exports to Malaysia soar over last five months

Rice inventory for export of the Dong Thap food company (Photo: VNA)

Kuala Lumpur (VNA) – Vietnam shipped close to 122.4 million USD worth of rice products to Malaysia in the first five months of 2018, surging 177 percent from the same period last year.

The sharp growth pushed rice to fourth place among the top five Vietnamese exports to Malaysia between January and May. These exports, whose revenue all exceeded 100 million USD, included phones and their component parts; computers, electronic devices and components; steel and iron products; and glass products.

Talking to the Vietnam News Agency on the morning of July 3, Vietnamese Trade Counsellor to Malaysia Pham Quoc Anh said the increase of Vietnamese rice exports is a result of the decrease in rice supply from other countries to Malaysia.

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

He said improved rice trade promotion activities via exhibitions, trade fairs, and business networking events supported by commercial agencies were also a growth drive.

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

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 Sabab and Sarawak states.

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

The trade counsellor said he believes Vietnamese rice will secure a strong foothold with well recognised brands in Malaysia