China is still one of the three largest export markets for agricultural, forestry and fishery products of Vietnam.

However, since the beginning of 2024, Vietnam’s main agricultural and aquatic products exported to China have increased and decreased unevenly. To improve this, businesses need to find competitive advantages to increase turnover from now until the end of 2024.

According to the Import-Export Department (Ministry of Industry and Trade), in the first 5 months of 2024, China imported more than 109.85 thousand tons of coffee, worth 490 million USD, up 155.1% in volume and 104.3% in value over the same period last year. Of which, imports from Vietnam reached 9.78 thousand tons, worth 31.63 million USD, up 25% in volume and 80.4% in value over the same period in 2023.

However, Vietnam’s coffee market share in China’s total imports decreased from 18.18% (in the first 5 months of 2023) to 8.91% (in the first 5 months of 2024). Meanwhile, rice exports to China also recorded a decrease in the first 5 months of 2024, reaching only 203,000 tons, down 67.8% over the same period in 2023.

For seafood products, in the first 6 months of this year, exports to China reached nearly 690 million USD, up 8.4%. Of which, pangasius still accounts for the largest proportion, accounting for 35% with more than 243 million USD, down 7.4% compared to the same period last year. The second largest export item to the Chinese market in the first half of this year is lobster with nearly 122 million USD, up 174% and accounting for nearly 18% of the seafood export value.

In addition, China is still the number one target market for Vietnamese pangasius, with an export value of 317 million USD in the first 7 months of 2024. This market mainly consumes large-sized pangasius, more than 1.2 kg/fish in whole form or fillet products. This is also a potential market for the by-product of pangasius maw. In the first 7 months of this year, the country’s pangasius maw exports reached about 50 million USD, of which exports to the Chinese market alone reached 40 million USD, accounting for 80%.

A representative of Nam  Viet Corporation said: The prospect of orders in the second half of this year is more positive than in the first half of the year as purchasing power in China gradually recovers. The company has expanded its customer base in Beijing and Guangzhou, in addition to its traditional area of ​​Shanghai.

At the same time, after market research, the company launched a line of seasoned butterfly-cut pangasius products to meet high demand in China. In addition, with the advantage of 100% self-sufficiency in raw fish, the company has solved the shortage of large-sized pangasius (1.5-2 kg). This is a popular fish size in China, so the opportunity to boost exports is huge.

Shrimp market expert (VASEP) Phung Thi Kim Thu said: In the first half of 2024, Chinese people cut down on shrimp consumption. Although the cumulative figure is still increasing, the growth rate of shrimp exports to China has gradually decreased in the first 4 months of the year, and in May there were signs of a significant decrease. The reason is that Vietnam’s shrimp prices are high, making it difficult to compete with other countries’ supply sources and China’s domestic supply.

“In the face of that reality, Vietnamese export enterprises need to find competitive advantages to grow. For example, the advantage of cheap shrimp still belongs to Ecuador, but after processing, Vietnamese shrimp always has a bright red color, suitable for Chinese consumers’ tastes. This is exactly what Ecuadorian shrimp has difficulty meeting because they only raise shrimp in earthen ponds, and after processing, the shrimp only has a light red color.

Furthermore, this market currently has a high demand for small-sized shrimp, suitable for Vietnam’s supply capacity while other countries cannot supply much of this product,” Ms. Thu added.

In addition to seafood, vegetables and fruits are still a product line with the potential for strong growth in the Chinese market in the last months of the year. In the first 6 months of the year, fruit and vegetable exports to China reached 2.2 billion USD, an increase of 22.6% over the same period in 2023. Secretary General of the Vietnam Fruit and Vegetable Association Dang Phuc Nguyen said that exporting fruits and vegetables to China is more favorable when logistics costs are cheap.

For durian, Vietnam also has many opportunities to increase export output when the growing area code in the first half of this year has increased significantly, meeting the requirements of the Chinese market well.

However, information from the Institute of Policy and Strategy for Agricultural and Rural Development said that in China, this year is the second year that Hainan durian has been released to the market on a large scale, with a significant increase in output and a market sale time one month earlier than last year. The scale of durian cultivation in Hainan is forecast to increase to about 6,667 hectares in the next 3-5 years.

Hainan durian blooms in March, is released to the market from the end of May, ripens widely in mid-June and will be harvested until September. Vietnamese businesses need to pay attention to this information to adjust the source of durian exported to China appropriately and achieve high economic efficiency.

Source: https://nhandan.vn/giu-vung-thi-truong-xuat-khau-nong-san-trung-quoc-post824001.html