Viet Nam’s rice exports to Malaysia show strong growth
Thursday, July 5,2018AsemconnectVietnam - 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.
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.
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.
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.
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