India becomes leading rice supplier to Singapore
Indian rice exports to Singapore had risen to 29.5 percent last year from 15.3 percent in 2009.
October 12, 2013 / 16:44 IST
India has overtaken Thailand as Singapore's biggest rice supplier for the first time, exporting 92,865 tonnes or 32.9 percent of the total rice supply to the island nation in the first eight months of 2013.
Thailand shipped 85,816 tonnes or 30.4 percent during the January-August period of this year to Singapore, reported The Straits Times today.Vietnam supplied 77,459 tonnes or 27.4 percent of rice supply during the period.Indian rice exports to Singapore had risen to 29.5 percent last year from 15.3 percent in 2009.Thailand has been the leading rice supplier to Singapore since 1998, accounting for over half of the total rice consumption of the city state between 1998 and 2011.But its market share fell to 35.3 percent last year while supplies from India and other countries have increased."Importers (are) taking advantage of the lower prices of Indian rice compared to Thai rice," the daily quoted a Trade and Industry Ministry spokesman.The Singapore General Rice Importers Association said the shift in sourcing rice started when global rice prices began surging in 2008.Other rice producing countries have also curbed exports to ensure sufficient domestic supplies while Thai crops have been hit by massive floods in the past.Other rice suppliers to Singapore include Myanmar (2.5 percent), Pakistan (2.4 percent), the United States (2.2 percent), Cambodia (0.9 percent) and Australia (0.6 percent) as well as others (0.7 percent). Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
