Viet Nam’s rice exports to Malaysia show strong growth
Viet Nam’s rice exports to Malaysia show strong growth
Viet Nam’s rice export value to Malaysia reached nearly US$122.4 million in the first five months of this year, a year-on-year increase of 177 per cent, according to the latest statistics from the Ministry of Industry and Trade.
With impressive growth, rice ranked fourth among five groups of Vietnamese exports to Malaysia earning $100 million in the first five months. They included phones and components; computers, electronic products and components; steel; rice; and glass and glass products.
Pham Quoc Anh, Viet Nam’ s commercial counselor in Malaysia told the Vietnam News Agency (VNA)’s correspondent in Malaysia on July 3 that the strong growth of Viet Nam’s rice exports to Malaysia was due to lower supply from other countries, creating opportunities for Vietnamese firms to boost rice exports. Meanwhile, Viet Nam holds an advantage in export prices for rice products.
In addition, trade promotion activities for rice have been strengthened with support from the Viet Nam Trade Office in Malaysia, including participation in major fairs and exhibitions on agricultural products and foodstuffs; and programmes and seminars connecting businesses of Viet Nam and Malaysia, he said.
However, it is important to develop the brands for Vietnamese rice products in the Malaysian market because most major supermarkets in Kuala Lumpur mainly stock Thai, Japanese and local rice products.
Therefore, Anh said the Viet Nam Trade Office in Malaysia has actively supported some domestic enterprises, including the Ha Noi Trade Corporation (Hapro) and Loc Troi Group, in finding partners in this market to cooperate in building brands.
The office has supported Hapro in collaboration with Malaysian ZNTEC Company to build and advertise Hapro rice products sold exclusively in the states of Sabab and Sarawak. It has also cooperated with Loc Troi to develop the brand for Loc Troi jasmine rice in the Malaysia market.
With the efforts of the Vietnamese businesses and the support of the Ministry of Industry and Trade, Vietnamese rice products are expected to achieve sustainable development in the Malaysian market, according to the Viet Nam Trade Office in Malaysia.
