Agricultures, Foods, News & Event

Vietnamese agricultural products are popular, what are the export products with the highest value?

Posted on by nguyennpt

It’s only been the first 2 months of the year, but many agricultural export industries have achieved very high turnover. For example, wooden products reached 1.68 billion USD, an increase of 59%; Coffee reached 1.38 billion USD, an increase of 85%;…

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%.

It’s only been the first 2 months of the year, but many agricultural export industries have achieved very high turnover.

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.

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%).