In a significant step for the global rice trade, Singapore and Vietnam have signed a Memorandum of Cooperation (MOC) to establish a long-term sustainable rice trade partnership, strengthening both nations’ positions in the global food supply chain. The agreement, part of the Vietnam–Singapore Comprehensive Strategic Partnership (CSP) signed in August 2023, focuses on promoting low-carbon rice exports and enhancing food security across the ASEAN region.
According to Assoc. Prof. Dr. Aat Pisanwanich, an expert in international and ASEAN economics, this is Singapore’s first bilateral agreement centered on sustainable trade, marking a milestone in the country’s food resilience strategy. While Vietnam has previously signed rice export partnerships with the Philippines which is the major importer of rice, Indonesia, and Malaysia, the collaboration with Singapore stands out for its focus on green supply chains and carbon market integration.
Key Objectives of the Rice Trade Agreement
1. Enhancing Food Security:
With Singapore importing nearly 100% of its rice, this cooperation diversifies its supply sources, reinforcing the country’s right to food security and strengthening its food security card for long-term resilience.
2. Promoting Sustainable Trade:
Both nations will collaborate to lower carbon emissions from rice cultivation, integrate digital traceability tools such as blockchain, and support carbon credit generation through low-carbon rice initiatives. This move aligns with Singapore’s commitment to sustainability under the Climate Impact X (CIX) platform, which facilitates carbon market trading for climate projects.
3. Expanding Vietnam’s Rice Export Reach:
Leveraging Singapore’s global logistics and retail network — including major players like Olam and Wilmar — the partnership will help Vietnam boost non-basmati rice exports, parboiled rice exports, and premium rice export volumes to high-value markets in the Middle East and Europe.
4. Supporting the ASEAN Rice Hub Vision:
Singapore aims to position itself as the ASEAN Rice Hub, connecting sustainable rice trade with carbon credit markets and enhancing the region’s competitiveness in sustainable trade.
Singapore Rice Importing Figure
For the unversed, In 2024, Singapore imported 424,329 tonnes of rice worth US$321.9 million, primarily from India, Vietnam, and Thailand. During the first seven months of 2025, Thailand exported 70,220 tonnes of rice to Singapore — up significantly from the previous year — reaffirming the city-state’s growing role in regional rice sourcing and rice trade diversification. Experts believe this landmark bilateral agreement will generate mutual benefits. “The partnership ensures a stable rice supply for Singapore while helping Vietnam enhance its premium rice export profile,” Dr. Aat said. “We anticipate the emergence of a new low-carbon rice brand, merging Singapore’s marketing strength with Vietnam’s production expertise.” With growing emphasis on sustainable rice trade, non-basmati rice exporters, and parboiled rice exports, the Vietnam–Singapore rice trade agreement represents a model for how sustainability, food security, and market innovation can go hand in hand — setting a new benchmark in the global rice trade and agriculture news sectors.
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