International competitor: Vietnam (Direct competitor)
Vietnam is Thailand main competitor that Singapore imported rice who make the market share of Thai rice decrease. In Asia now Vietnam is the first rank in exporting rice but because of Thai rice has a great quality, good taste and be tastier for Singaporean so the statistic of imported rice from Vietnam in Singapore still lower than from Thailand.
As Thailand export Thai Hom mali Rice and Fragrant Rice, Vietnam also focusing on develop the quality of rice, packaging by named it “Fragrant Rice” and sell cheaper around 4-5 SGD (5 kg packed) that makes Thai rice market share decrease. Anyway, Thai rice still better and should do more public relation to let the consumer know the different between Thai rice and the other through the advertising, newspaper by using Chinese language to deliver the information directly to the end consumers. http://www.ditp.go.th/aec/attachments/article/223/Crucial%20goods%20and%20products.pdf
Vietnam SWOT Analysis
Strength-High export growth-low cost workforces| Weaknesses-poor infrastructure-ineffective use of capital-weak competitiveness-restricted using land| Opportunities-access to and better allocation of resources-domestic private sector development-economic reform promotion| Threat-more competition-more vulnerable to external shocks-unequal distribution of costs and benefits of integration|
Price comparison between Thailand and Vietnam
Item| Thailand| Vietnam|
White Rice 100%| 616| -|
White Rice 5%| 599| 390|
White Rice 10%| 593| 385|
White Rice 15%| 592| 370|
White Rice 25%| 584| 360|
*Unit: USD/Metric Ton
From the table above you can see that the price of rice from Vietnam is lower than from Thailand...