Agriculture continues to be the backbone of the economy

VCN - Contrary to the gloomy export picture of many industries, some agricultural products broke records in 5 months, in which, the total export value of vegetables and fruits reached 1.97 billion USD, an increase of 39% over the same period last year. This is also an industry that is forecast to surpass $4 billion this year.
Suggestions to amend the Land Law: It is necessary to improve the accessibility to land resources for businesses Suggestions to amend the Land Law: It is necessary to improve the accessibility to land resources for businesses
Strengthening post-inspection with enterprises exporting agricultural products to China Strengthening post-inspection with enterprises exporting agricultural products to China
Agriculture continues to be the backbone of the economy
Frozen Vietnamese durian sold at US supermarkets. Photo: CTV

Fruit and vegetable exports continued to record breakthrough growth

In the situation that the world economy continues to face many difficulties, high inflation in some developed countries, and tight monetary policies, especially in big markets such as the US and Europe, manybusinesses struggle in signing and fulfilling orders.

Along with that, many countries have implemented policies to strengthen the protection of domestically produced products and goods; boost agricultural production to proactively supply.

According to a report of the Ministry of Agriculture and Rural Development, the export turnover of agricultural, forestry and fishery products in May 2023 is estimated at 4.85 billion USD, bringing the total export turnover of agriculture, forestry and fishery products in the first 5 months of 2023 to 20.26 billion USD. In which, the export value of main agricultural products was estimated at 10.3 billion USD, up 9.9%. Livestock export value is estimated at 190 million USD; seafood export value is estimated at 3.47 billion USD; the export value of forest products is estimated at 5.52 billion USD.

In the first five months of the year, the export value of agricultural, forestry and fishery products to markets in Asia reached US$ 9.73 billion, up 2.3%; America reached 4.42 billion USD, down 34.6%; Europe reached 2.42 billion USD, down 13.2%; Africa reached 327 million USD, down 5.6%; Oceania reached $280 million, down 28%. China, the United States and Japan continue to be the three largest export markets for Vietnam's agricultural, forestry and fishery products.

Notably, agriculture continues to show the supporting role of the economy when many export agricultural products have very good growth, the trade balance continues to have a trade surplus, reaching nearly 10 billion USD.

There are threeagricultural products such as rice, coffee and vegetables,which achieved unprecedented high results. Accordingly, rice exports reached 2.02 billion USD, up 49% over the same period last year; coffee reached 2.02 billion USD, up 0.2% (with a possibility to surpass the record of 4 billion USD in 2022) and vegetables reached 1.97 billion USD, up 39%. Not only that, all three of these items had a trade surplus with great value when coffee had a surplus of 1.87 billion USD; rice 1.59 billion USD and vegetables 1.21 billion USD.

This can be considered the bright spot of the agricultural industry in the first five months of the year.

Leading in terms of export value is the fruit category, reaching US$920.7 million, up 15.7% over the same period in 2022. Notably, the export value of durian fruit increased strongly, reaching 190.5 million USD, an increase of 573.1% over the same period in 2022, with the main export market being China, accounting for 84.3% of the total export value of durian.

Take advantage of FTAs, especially CPTPP and EVFTA

According to the Ministry of Agriculture and Rural Development, in May, agricultural, forestry and fishery production focused mainly on caring for and harvesting rice and vegetables in the Winter-Spring crop; sowing summer-autumn rice; removing difficulties in raising livestock, poultry and aquaculture; accelerating the progress of afforestation; support and encourage fishermen to actively stick to the sea and strictly implement regulations on IUU. In the country, fruit products have an abundant, relatively stable supply, many types are about to be harvested (mango, durian, jackfruit, lemon, litchi).

Deputy Minister of Agriculture and Rural Development Phung Duc Tien said that with favorable conditions and strong and drastic trade promotion, commodity groups such as rice and vegetables by the end of the third quarter of 2023 will achieve results, equal to the third quarter of 2022 and the fourth quarter of 2023 to accelerate, the figure of 55 billion agro-forestry-fishery exports can reach the finish line.

Deputy Minister Phung Duc Tien said that it is necessary to focus on directing production to maintain growth momentum, focusing on market work to boost exports. At the same time, promote the development of the domestic consumption market, and continue to handle market issues in order to create favorable conditions for the export of agricultural and aquatic products, especially to the markets of China, the United States and the EU.

Along with that, the agricultural industry needs to take advantage of FTAs, especially the CPTPP and EVFTA, to boost exports of key agricultural, forestry and fishery products, and support businesses to sign new export orders. Coordinating to support the protection of trademarks and geographical indications for potential export products of Vietnam abroad.

The agricultural sector also determined to monitor and grasp the price situation, and the supply of essential food products, and report to the Domestic Market Executive Team and the Government's Price Steering Committee. Coordinate with localities to support connection, andpromote processing and consumption of agricultural products in the harvest season.

Besides, organizing activities such as: connecting forums to promote the export of spices and spices to the EU market; 970 forums to support the connection of consumption of agricultural products; seminars to disseminate information, market regulations and consumer tastes, connect consumption through the system of commercial and agricultural counselors in markets, domestic retail distribution chains for a number of items with large output when they are harvested in June (litchi, jackfruit, rambutan, dragon fruit, lemon).

By Xuan Thao/ HuuTuc

Related News

Several key commodities surge in Asian and African markets

Several key commodities surge in Asian and African markets

VCN - Many of Vietnam's key commodities hold significant potential for growth in the Asian and African markets.
Three goals, seven tasks for the logistics industry to accelerate

Three goals, seven tasks for the logistics industry to accelerate

VCN - Speaking at the Vietnam Logistics Forum 2024, Prime Minister Pham Minh Chinh pointed out 3 goals and 7 groups of tasks for the logistics industry to accelerate development in the new situation.

Latest News

Textile and garment exports optimistic thanks to market opportunities

Textile and garment exports optimistic thanks to market opportunities

VCN - The diversification strategy and the shift in orders from brands have brought positive results to the Vietnamese textile and garment industry in 2024 and created a solid foundation for the 2025 target.
Vietnam attracts nearly 31.4 billion USD in foreign investment in 11 months

Vietnam attracts nearly 31.4 billion USD in foreign investment in 11 months

Total registered foreign direct investment (FDI) into Vietnam, including new and additional investments, and capital contributions via share purchases, reached 31.4 billion USD in the first 11 months of 2024.
Rice exports to set record of 9 million tonnes this year

Rice exports to set record of 9 million tonnes this year

Rice exports are likely to hit a record high of 9 million tonnes in 2024, given a total volume of nearly 8.5 million tonnes shipped abroad in the first 11 months, according to insiders.
Sustainable production will bring advantages to Vietnamese pepper and spices

Sustainable production will bring advantages to Vietnamese pepper and spices

VCN - Adjusting production and adapting to new requirements is key for Vietnam to maintain its leading position in the international market of pepper and spices.

More News

Rubber industry adaptive to EU Deforestation Regulation

Rubber industry adaptive to EU Deforestation Regulation

Vietnam's rubber sector in general, and processing and export enterprises in particular have taken actions to comply with the EU’s Deforestation Regulation (EUDR) in order to avoid any impact on rubber exports to the EU market.
Green export a vital part of future Vietnamese economy: forum

Green export a vital part of future Vietnamese economy: forum

A forum on green export promotion was held in Hanoi on December 4 to help Vietnamese enterprises switch to sustainable and low-carbon growth models and improve their competitiveness amidst globalisation.
Vietnam ranks in top 11 largest exporters globally

Vietnam ranks in top 11 largest exporters globally

From being a minor exporter prior to 2013, Vietnam rose to number eleven in the global rankings of top exporters by 2023, emerging as a surprise player in global trade.
Vietnam’s trade activity declines in early November despite strong year-to-date growth

Vietnam’s trade activity declines in early November despite strong year-to-date growth

VCN - Vietnam’s import-export activity showed signs of slowing in the first half of November, with total trade turnover reaching US$33.44 billion, a 9.7% drop (equivalent to US$3.58 billion) compared to the second half of October, according to preliminary data from the General Department of Vietnam Customs.
Vietnamese goods in the face of the cross-border e-commerce "whirlwind"

Vietnamese goods in the face of the cross-border e-commerce "whirlwind"

VCN - In order to compete with goods on cross-border e-commerce platforms entering Vietnam, experts and businesses recommend that in addition to improving product quality and lowering costs, it is necessary to remove bottlenecks in transportation and delivery.
Shrimp export prospects at the end of the year

Shrimp export prospects at the end of the year

VCN- Demand for seafood imports in key markets are soaring, helping Vietnam's seafood exports record impressive growth. In particular, shrimp exports are recording many positive results.
Forum seeks to boost Vietnam-China agro-forestry-fisheries trade

Forum seeks to boost Vietnam-China agro-forestry-fisheries trade

A forum was held in the northern border province of Lang Son on December 3 to seek ways to enhance the agro-forestry-fisheries trade between Vietnam and its neighbour China.
Meetong recycling standards - reducing emissions, increasing competitiveness

Meetong recycling standards - reducing emissions, increasing competitiveness

VCN - Currently, the rate of domestic enterprises applying recycling standards in production is not high, mainly in large enterprises and FDI enterprises, while this is becoming one of the standards for exporting to key markets.
Accelerating official fruit and vegetable exports to China

Accelerating official fruit and vegetable exports to China

VCN - Vietnamese businesses must update and meet China's increasingly stringent food safety requirements.
Read More

Your care

Latest Most read
Textile and garment exports optimistic thanks to market opportunities

Textile and garment exports optimistic thanks to market opportunities

VCN - In the third quarter of 2024, the textile and garment industry recorded impressive business results, with an export turnover of US $12.4 billion, an increase of over 13% over the same period and an increase of 22% compared to the second quarter of 2
Vietnam attracts nearly 31.4 billion USD in foreign investment in 11 months

Vietnam attracts nearly 31.4 billion USD in foreign investment in 11 months

Total registered foreign direct investment (FDI) into Vietnam, including new and additional investments, and capital contributions via share purchases, reached 31.4 billion USD in the first 11 months of 2024.
Rice exports to set record of 9 million tonnes this year

Rice exports to set record of 9 million tonnes this year

Rice exports are likely to hit a record high of 9 million tonnes in 2024, given a total volume of nearly 8.5 million tonnes shipped abroad in the first 11 months, according to insiders.
Three goals, seven tasks for the logistics industry to accelerate

Three goals, seven tasks for the logistics industry to accelerate

VCN - On December 2, 2024, the Vietnam Logistics Forum 2024 with the theme "Free Trade Zone - Breakthrough Solutions to Promote Logistics Growth" was organized by the Ministry of Industry and Trade in coordination with the People's Committee of Ba Ria - V
Several key commodities surge in Asian and African markets

Several key commodities surge in Asian and African markets

VCN - According to Mr. Dang Phuc Nguyen, Secretary General of the Vietnam Fruit and Vegetables Association (VINAFRUIT), Vietnam's geographical location places it adjacent to one of the world's largest fruit and vegetable consumption markets, China, which
Mobile Version