Agricultural product exports in 2024 are expected to reach a new record

Agricultural product exports accelerated strongly right from the first months of the year with many key products reaching a value of over 1 billion USD.

Opening the market in parallel with promoting trade promotion is a key solution being focused on by the agricultural sector to achieve the target of reaching 55 billion USD in exports by 2024.

Many products have high growth in volume and value

Information from the Ministry of Agriculture and Rural Development, in the first 4 months of 2024, the country’s total agricultural export turnover is estimated to reach more than 19 billion USD, an increase of 23.7% over the same period in 2023. In particular, coffee exports have increased. highest growth, reaching 2.5 billion USD, an increase of more than 54% over the same period last year. Next is rice, after 4 months, 3 million tons were exported, with a turnover of 1.93 billion USD, up 13.5% in volume and 23.7% in value over the same period last year.

Vietnam’s rice exports continue to dominate key markets with large consumption demand for output. In particular, the Philippines is still Vietnam’s largest rice import market, accounting for 46.4% of total volume and 45.5% of total export turnover.

Along with coffee and rice, vegetables and fruits are also agricultural products with impressive growth in the first 4 months of 2024, with export turnover reaching 1.8 billion USD, up 32% over the same period last year. . General Secretary of the Vietnam Fruit and Vegetable Association Dang Phuc Nguyen said that the export prospects of the fruit and vegetable industry in 2024 will continue to have positive developments, especially from the Chinese market.

Processing dragon fruit for export.

The fruit and vegetable industry is expected to set a new export record this year when for the first time, Vietnam’s fruit and vegetable exports reached and exceeded 1 billion USD in the first months of the year. This is an important momentum step that will help this industry reach a new record in export.

Notably, many types of exported agricultural products have increased in price sharply in recent times such as coffee, pepper, cocoa, and durian. These continue to be agricultural products that will tend to increase this year. The cause of growth is due to increased world market demand, as well as the increasing quality of Vietnam’s agricultural products, meeting the diverse requirements of many countries and regions.

According to Director of Vietnam Commodity News Center Pham Quang Anh, although agricultural products are seasonal and cannot replenish supply immediately, agricultural product prices will continue to be high in the short and medium term. term, at least until the end of the second quarter of this year.

Another bright spot is that the value of agricultural exports to markets has increased in the past 4 months. Export value in 2024 increases by more than 32% compared to the same period in 2023. Of which, exports to Asia increase by 19.8%; Americas increased by 24.6%; Europe increased by 38.6%; Oceania increased by 26% and Africa increased by 33.3%. The US, China and Japan continue to be the three largest import markets for Vietnamese agricultural products. Among them, China ranked second, accounting for 18.9% of total agricultural export turnover, an increase of 15.1% over the same period in 2023.

Handle market issues to accelerate exports

Entering the middle of the second quarter of 2024, the average export price of some agricultural products, including vegetables and fruits, increased, helping agriculture continue to contribute a lot to economic development when exports in this field continuously recorded good results. growth results. Exports in the second quarter are forecast to be even more exciting than the first quarter, because many agricultural products, especially key fruits and vegetables such as lychee, longan, mango, and dragon fruit, will enter the harvest season.

Therefore, businesses are focusing and putting effort into preparing resources, promoting trade, searching for markets, and signing new orders. In the second quarter of this year, the agricultural industry targets growth of 2.9 – 3%, exports of about 14 billion USD, higher than the results achieved in the first quarter.

Regarding rice exports, the Ministry of Agriculture and Rural Development commented that the export results in the past 4 months (the highest in the first 4 months of the year so far), if the whole year maintains 750,000 tons/month, there is room for export markets. can be up to 9 million tons of rice. The Vietnam Food Association also forecasts that the volume of rice exported in the first 6 months of 2024 will definitely exceed 4.5 million tons.

Therefore, the amount of rice needed for export in the last 6 months of the year is estimated at 3.22 million tons. To meet this demand, businesses may have to import more rice from Cambodia to meet export orders. It is forecast that in 2024, rice exports will set a record turnover of 5 billion USD.

Export markets continue to diversify, but focus on three traditional markets: China, the US and Japan. With its biggest customer being China, Vietnam has advantages in logistics and the two sides have signed many agricultural export protocols. This continuously opens up potential for agricultural exports to continue to grow stronger in the coming time.

Assessing the export situation of agricultural products, Deputy Minister of Agriculture and Rural Development Phung Duc Tien said that the agricultural sector has had very encouraging growth in all fields, especially the outstanding export surplus. To continue to maintain good growth momentum in exports, the Ministry of Agriculture and Rural Development will continue to handle market issues to create favorable conditions for exporting agricultural and aquatic products, especially to markets: China, US, Japan, EU; At the same time, open new markets with much potential such as: Halal, Middle East, Africa…; Coordinate ministries and branches to support trademark and geographical indication protection for Vietnam’s potential export products abroad.

In addition, the Ministry of Agriculture and Rural Development and the Ministry of Industry and Trade are currently promoting promotion programs and supporting businesses to make good use of free trade agreements (FTAs), especially the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. Pacific Ocean (CPTPP) and Vietnam – EU Free Trade Agreement (EVFTA) to promote the export of key agricultural, forestry and fishery products, and support businesses in signing new export orders. In addition, the Ministry of Agriculture and Rural Development is also coordinating with ministries and branches to support trademark and geographical indication protection for Vietnam’s potential export products abroad.

Particularly for the Chinese market, Deputy Director of the Office of Notification and National Question and Answer Point on Sanitary Epidemiology and Plant and Plant Quarantine (SPS Vietnam) Ngo Xuan Nam said: the office continues to coordinate with other countries. The unit disseminates and guides businesses and localities to meet Regulation 248 and Regulation 249 of the General Department of Customs of China. Thereby, supporting and removing difficulties for businesses when bringing agricultural products to this market. To date, the General Department of Customs of China has approved 3,140 agricultural product codes for food that Vietnamese enterprises are allowed to import into the Chinese market, an increase of 180 codes compared to 2023.