Agricultures, Foods, News & Event
Agricultural, forestry and fishery product exports earned nearly ten billion dollars in just the first 2 months of the year
Earning 9.84 billion USD, agricultural, forestry and fishery product exports in the first 2 months of 2024 increased by 50.3% over the same period, along with many signs of improvement in selling prices and markets.
The trade surplus in agriculture, forestry and fisheries increased nearly 2.9 times
According to the Ministry of Agriculture and Rural Development, in the first 2 months of 2024, Vietnam’s total agricultural, forestry and fishery export turnover is estimated to reach 9.84 billion USD, an increase of 50.3% over the same period in 2023. Vietnam Recorded a trade surplus of 2.68 billion USD, an increase of nearly 2.9 times over the same period.
In general, all export commodity groups increased over the same period, of which agricultural products reached 5.18 billion USD, an increase of 55.7%; Forest products reached 2.9 billion USD, an increase of 59.7%; seafood reached 1.37 billion USD, an increase of 28.9%; livestock reached 78 million USD, an increase of 15.1%; Production input reached 309 million USD, an increase of 13.6%.
Most key products achieved higher export value than the same period. Specifically, wood products reached 1.68 billion USD, an increase of 59%; Coffee reached 1.38 billion USD, an increase of 85%; fruits and vegetables reached 970 million USD, an increase of 72.8%; rice reached 708 million USD, an increase of 49.8%; cashew nuts reached 595 million USD, an increase of 68.2%; Shrimp reached 403 million USD, an increase of 20.5%.
The average export price of some agricultural products recorded an increase over the same period, such as rice increased by 32.2%, reaching 699 USD/ton; Coffee reached 3,153 USD/ton, an increase of 44.7%; rubber reached 1,429 USD/ton, up 3.4%; pepper 4,041 USD/ton, up 28.7%; tea 1,699 USD/ton, up 1.7%.
Notably, fruit and vegetable exports to notoriously demanding markets with very high quality requirements such as the US, Korea, Japan, and Australia suddenly grew strongly in January 2024.
Specifically, fruit and vegetable exports to Korea reached 22 million USD, an increase of 121% over the same period in 2023. This item exported to the US recorded a growth of 83% over the same period in 2023, reaching 22 million USD. For the Japanese market, fruit and vegetable exports reached 16 million USD, up 53% over the same period in 2023. In the Australian market, fruit and vegetable exports also earned 9 million USD, up 75% over the same period. 2023.
According to the Ministry of Industry and Trade, the export of fruits and vegetables to demanding markets with many strict standards such as the US, Japan, Korea, and Australia has affirmed the position and quality of Vietnamese fruits and vegetables and will expand the market. There are many great opportunities for this industry this year.
Continue to open up the market and promote exports
In the first 2 months of 2024, the US, China and Japan continue to be the three largest export markets, of which export turnover to the US accounts for 21.5% (up 77.3%); China accounted for 21% (up 47.9%) and Japan accounted for 7.2% (up 29.2%).
Mr. Phung Duc Tien – Deputy Minister of Agriculture and Rural Development – assessed that recent export activities, especially in the field of seafood and agricultural products, have begun to show positive signs of recovery. However, we need to ensure that this recovery is sustainable and not just a temporary cycle. Accordingly, in order for Vietnam’s agricultural, forestry and fishery products brand to maintain its position in the international arena, each product must target specific consumers.
Currently, the Ministry of Agriculture and Rural Development has directed De Heus Group to focus on exporting chicken to the Halal market. This is a very important market with 2.2 billion people, accounting for the majority of the world’s population.
Mr. Phung Duc Tien commented that although we have expanded many new markets, focusing on demanding markets, especially the Halal market, will help our agricultural products reach many segments. new segments and markets. If everything goes smoothly, Vietnam can export 1,000 tons of chicken every month. This number will mark a turning point in the process of Vietnam expanding its export market.
According to a report by the Department of Animal Health (Ministry of Agriculture and Rural Development), China needs to import about 25 million pigs each year. Geographically, Vietnam and China have a 1,449.6km long land border, through 9 pairs of border gates that can shorten goods transportation time and reduce costs. This is an opportunity for Vietnam.
“In 2023, Vietnam will only export 515 million USD of animals and animal products to markets, which is nothing compared to the total herd and potential. In order to export, the core must be disease-free,” Mr. Phung Duc Tien shared.
Currently, Vietnam has many businesses that have raised livestock according to a closed process from breeds, nutritious food, biosafety disease prevention, slaughtering, processing and transportation. For example, the technology level of C.P. Livestock Joint Stock Company. Vietnam, De Heus Group… are not inferior to other countries in the world. Therefore, this is an opportunity for Vietnamese livestock products to reach the Chinese market as quickly as possible.
Deputy Minister Phung Duc Tien requested the Department of Animal Health to preside over and coordinate with relevant agencies to actively negotiate with the Chinese side to review the contents and import requirements of the signed memoranda of understanding. Since then, there have been specific instructions for Vietnamese localities to deploy the construction of disease-free zones and soon recognize zones that ensure export standards.
Returning to fruit and vegetable products, according to Mr. Dang Phuc Nguyen – General Secretary of the Vietnam Fruit and Vegetable Association, after many years of access, production and export enterprises have become familiar with and adapted to the standard conditions. standards and high quality from these markets to return to invest in organizing raw material areas, change production processes, and overcome technical barriers. With opportunities from import markets, especially from the Chinese market, Mr. Dang Phuc Nguyen also expects fruit and vegetable exports to reach 6 – 6.5 billion USD.
Regarding rice products, Mr. Nguyen Ngoc Nam – Chairman of the Vietnam Food Association, expects the country’s rice output in 2024 to remain at the same level as 2023 under optimistic weather conditions. However, the volume of rice inventories carried over to 2024 will decrease sharply, so it is necessary to closely balance the rice output of each crop with domestic consumption demand.
“Rice exports are forecast to continue to be vibrant as demand from major consuming markets in the region such as Indonesia, the Philippines, Malaysia, China and Africa increases due to concerns that El Nino hot weather will last until mid-2024. Domestic prices are also forecast to continue to stabilize at a high level and maintain an upward trend,” Mr. Nguyen Ngoc Nam shared.
Regarding the work of opening and clearing the market, Mr. Phung Duc Tien said that the Ministry of Agriculture and Rural Development will conduct negotiations with the Chinese side to have more products officially exported to this market. Along with that, the development of smart border gates and rail and road transport networks also needs to be focused to create more favorable conditions for the transportation of agricultural products to China, reduce logistics costs and enhance income for farmers.
Besides, continue to promote exports to major markets such as the United States, EU, Australia, Korea… “With a focus on taking advantage of free trade agreements (FTAs), especially the CPTPP and EVFTA agreements to promote the export of key agricultural, forestry and fishery products, the Ministry will support businesses in signing export orders. new password. Besides, coordinate to support trademark protection and geographical indications for Vietnam’s potential export products abroad”, Mr. Phung Duc Tien shared.