Top 3 highest export agricultural products in the first 5 months of the year

According to statistics of the Ministry of Agriculture and Rural Development (MARD), in the first five months of the year, the total export and import turnover of agriculture, forestry and fishery products was estimated at 36.96 billion USD, of which 20.26 billion was exported. USD, import 13.15 billion USD. While many main export items had a decrease in export value compared to the same period last year, the group of agricultural products grew by 9.9%, reaching 10.3 billion USD.

The report “Analysis of agricultural products import and export market in the first 5 months of 2023” recently released by the Ministry of Agriculture and Rural Development, said that three agricultural export products with the highest value growth include: Rice, vegetables and products breed.

The flourishing months of rice exports

Specifically, rice exports in the first 5 months of 2023 increased the most in both volume and value. The volume of rice exports increased by 40.8%, from 2,767 tons in the same period in 2022 to 3,897 tons. Rice export turnover in the first 5 months of 2023 also tends to increase by 49%, from 1.35 billion USD in the same period in 2022 to 2.01 billion USD.

According to the Ministry of Agriculture and Rural Development, the factors that help increase the volume and value of rice exports come from predictions of global rice shortages.

Specifically, FAO forecasts that global rice production in the 2022-2023 crop year (May 2022 – May 2023) will reach 516.7 million tons, down 1.8% compared to the 2021-2022 crop year. The world rice market may be short of 8.7 million tons globally in the 2022-2023 crop year.

The May forecast of the US Department of Agriculture (USDA) also shows that the world rice supply in the 2023-2024 crop year is forecast at 689.7 million tons, down 1 million tons compared to the previous crop year.

Meanwhile, rice consumption in the 2023-2024 crop is forecast at a record 523 million tons, up 1.5 million tons from the previous crop year. As a result, ending stocks are forecast by USDA to decrease by 2.5 million tons to 166.7 million tons, which is the third consecutive drop in inventories and the lowest level since the 2017-2018 crop year.

Before this development, the demand for rice imports in traditional markets of Vietnam such as the Philippines, China, Indonesia and African countries is showing signs of increasing compared to the same period last year.

In European countries, due to the political conflict between Russia and Ukraine, the demand for food reserves also increased.

China opens up, exports of vegetables and fruits increase sharply

The commodity ranked second in terms of high export turnover is vegetables. In the first 5 months of 2023, the export value of vegetables and fruits increased by 39%, from 1.41 billion USD to 1.97 billion USD.

In which, China is the largest consumption market, accounting for 59% of Vietnam’s total fruit and vegetable exports, followed by the US, Australia, Myanmar and Cambodia respectively.

The factor that made vegetables and fruits gain many successes in the first 5 months of the year came from the sharp increase in imports of the Chinese market. This helped offset the decline from the US, Canada, Australia, and Hong Kong (China) markets.

In the first two months of the second quarter, Vietnam had many kinds of fruits in the harvest and many new products such as passion fruit and durian were granted additional planting area codes by China.

However, the Ministry of Agriculture and Rural Development also noted that the export of fruits and vegetables to China is increasingly fierce competition with products of the same type from countries in the region such as Thailand, Cambodia, and the Philippines.

Many key export fruits of Vietnam are being promoted to new plantings by China, India, and Mexico. Meanwhile, the export of vegetables and fruits to China is still difficult when there are 7/12 export items that do not have a protocol, making it difficult for some key products such as dragon fruit, mango, and jackfruit to realize their full potential. .

Export of frozen pork “timed”

The third place in terms of export turnover growth in the first 5 months of the year is livestock products. The export value of the livestock sector increased by 34.5%, from USD 141 million in 2022 to USD 190 million in 2023.

Regarding the structure of livestock export market in the first 4 months of 2023, Hong Kong (China) market accounted for the largest proportion of 40%. Followed by Japan 13%, China 12%, Cambodia 11%, USA 8%.

In terms of product structure, Vietnam mainly exports pork, fresh, chilled or frozen, accounting for 37%, processed meat 22%, and raw buffalo/beef meat 10%.

Inflation has dropped in some markets. Deputy Director of the Import-Export Department Tran Thanh Hai forecast that the opportunity for export of consumer goods will recover in the coming months. And with the initiative and readiness of businesses, export orders will soon be met.

“We see that the current decline is mainly due to problems from the market perspective, but for the domestic market, the production capacity of our business is still very good, not affected by other factors. Impacts such as epidemics or factors on disruption of raw material supply… It is advantageous to help our businesses be ready to resume production and export when the market improves…” – Mr. Tran Thanh Hai stated.

According to representatives of the Vietnamese Trade Offices abroad, the requirements of the export market are increasingly strict, especially requirements on food safety, environmental friendliness, emission standards, etc.