Identify key agricultural product export markets

According to the Ministry of Agriculture and Rural Development, in January 2023, only vegetables and fruits had a positive growth in export turnover, reaching 300 million USD, up 3.1% over the same period in 2022.

In general, the total export turnover of agriculture, forestry and fishery products in January 2023 was estimated at 3.72 billion USD, down 23.6% compared to the same period in 2022. In which, the export turnover of main agricultural products reached 1.76 billion USD, down 12.7%. Notably, seafood reached 600 million USD, down 30.9% with sharply reduced items such as pangasius down 50%, shrimp down 46%, tuna down 32%; main forest products reached 1.19 billion USD, down 30%.

The US, China and Japan are the three largest export markets for Vietnam’s agricultural, forestry and fishery products, all of which recorded a decline in January 2023. Specifically, the export value to the US market accounted for 24.3%, down 32.8%; China accounted for 19.4% (down 4%) and Japan accounted for 8% (down 13.2%) over the same period in 2022.

The reason was pointed out in part because January 2023 coincided with the Lunar New Year holiday. However, in the face of domestic and international market fluctuations with rising input material prices; high inflation in some countries greatly affects purchasing power; Climate change is becoming more and more obvious globally and the impact of the Covid-19 epidemic is still continuing…, the identification of key and potential markets to promote agricultural, forestry and fishery exports in the coming months is absolutely necessary.

With the US market – Vietnam’s largest agricultural export market – it is necessary to continue to pay attention to products with high demand forecast, such as wood products, pepper, coffee, and fruits. processing‚Ķ For the Chinese market, the door is wide open for fruit and seafood. The proof is the growth in the export of vegetables and fruits right in January 2023 when China opened its border after a long time of restricting trade due to the Covid-19 epidemic.

Seafood is also forecasted to have strong turnover growth in the Chinese market in 2023, especially pangasius and shrimp. Another market area with high economic value and potential is Europe, especially in the context that the EU-Vietnam Free Trade Agreement (EVFTA) has been bringing benefits. clear position for Vietnam’s agricultural export industries.

However, in all three markets, this key export market area has in common that the requirements for product quality are increasing and trade barriers are being erected more and more.

The US market continues to have the risk of increasing the number of anti-dumping and anti-subsidy investigations against a number of Vietnamese agricultural products; at the same time promulgating regulations on the implementation of the imported seafood monitoring program (SIMP). The Chinese market has changed, tightened policies and regulations for foreign food production enterprises to import and issued new measures to manage import and export food safety…

Meanwhile, the European market area sets out many product criteria related to environmental protection, health, reducing greenhouse gas emissions towards the goal of green growth…

Therefore, in parallel with the efforts to open the market for many kinds of agricultural products, the guarantee of stable output and quality; Understanding and properly implementing the regulations of each market and market area is an important key for industries to achieve high growth rates in 2023.