Thailand and Singapore sign rice trade agreement for 100,000 tonnes over 5 years
Thailand and Singapore sign a government-to-government rice trade agreement, securing up to 100,000 tonnes over five years to strengthen food security and trade ties.
Today (November 7), Commerce Minister Suphajee Suthumpun will sign a Memorandum of Cooperation (MOC) on rice trade between Thailand and the Singapore government, following the Cabinet’s approval on November 4.
This MOC is a government-to-government (G2G) agreement aimed at enhancing regional food security and strengthening trade relations between the two countries. The main agencies involved in implementing the agreement are Thailand’s Department of Foreign Trade and Singapore Food Agency (SFA).
Key aspects of the MOC include a commitment by the Thai government to sell up to 100,000 tonnes of rice to the Singapore government over five years from the date of signing. The agreement is renewable for five years, depending on Singapore’s needs and the production and consumption conditions of both countries.
The sale will be based on the international market price at the time of each transaction, agreed upon at the time of purchase (with no fixed price set in advance). Transactions under this MOC will be conducted in writing, following international trade practices.
It is notable that the MOC does not require the full 100,000 tonnes to be purchased. The agreement specifies a maximum of 100,000 tonnes over five years, with actual trade volume based on Singapore’s needs at any given time. Throughout the five-year period, either party may request a review, amendment, or adjustment of the MOC in writing, with mutual consent. Either side can also terminate the agreement by providing written notice through diplomatic channels at least six months in advance.
In 2024, Thailand exported 113,549 tonnes of rice to Singapore, valued at US$102.14 million. During the first nine months of 2025 (January-September), Thailand has already exported 90,031 tonnes to Singapore, an increase of 5% from the same period in 2024, when the volume was 85,742 tonnes. The majority of the exports were Thai jasmine rice (49.99%), white rice (29.04%), and Thai fragrant rice (16.26%). Currently, Thailand is the third-largest rice exporter to Singapore, with a market share of 22.34%, following India at 42.82% and Vietnam at 28.10%.
