Enterprises kick off exports in the new year

	Farm exports expect breakthrough
	Vietnam"s aquatic product exports expected to recover in 2024

Customs at Saigon Port Area 1 processes banana exports for enterprises. Photo: T.H

Starting strong in the new year

According to Ho Quoc Luc, Chairman of the Board of Directors of Sao Ta Food JSC, the company's processing plants are currently busy processing orders and preparing for the first lunar month's exports immediately after returning to work after the long Tet holiday.

In January 2024, the production of finished shrimp by Sao Ta Food JSC doubled compared to the same period last year, reaching 1,250 tons. Along with that, the consumption of finished shrimp reached 1,614 tons, equal to 145% compared to the same period last year.

The consumption of finished agricultural products was 189 tons, equal to 116% compared to the same period last year. Total sales were US$19.2 million, equal to 126% compared to the same period last year.

According to the company's leadership, this year, the company's shrimp farms and leadership team experienced their first Tet holiday at the shrimp farm, as this is the first year the company has implemented reverse season shrimp farming, releasing shrimp fry since late November 2023 to prepare raw materials for export products in 2024.

In the southern region, from the 10th day of the lunar calendar, many enterprises have started their spring production. Immediately after resuming operation after Tet, many enterprises have organized immediate exports.

Among them, Global Trade Link Co., Ltd. exported two containers of about 18 tons of processed coffee such as: mango coffee, salted coffee, and cashew coffee to the Australian market. Previously, this enterprise also exported one container of processed coffee to Australia for sale at Australian supermarkets' grand opening on the 4th day of Tet.

Expanding export markets

Not only focusing on export orders, many enterprises have considered expanding their markets. Nguyen Ngoc Luan, CEO of Global Trade Link Co., Ltd., said that besides the mentioned batches, the company was preparing to export more batches to South Korea and the US.

"These are markets that we have had before, but in 2023, we encountered some difficulties so the progress was slow. In 2023, we made many efforts, resulting in more export contracts for 2024. This year, in opening new markets, we are focusing on the Chinese market," said Luan.

In the busy days preparing export orders, Vo Thanh Vin, Head of the International Market Development Committee of Vinamilk, along with the international business team, contributed to exploring the 60th export market for Vinamilk.

That market is Nicaragua, which is not too strict about technical standard barriers but quite complex in import procedures and documents. Vin and the International Business Department had to spend many months pursuing to finally open the door to the largest country in Central America and are focusing on exporting orders to this market this year.

However, according to the assessment of enterprises, despite the bright spots in exports, they still face many new challenges. In particular, Vietnam's seafood exports have shown signs of recovery and are likely to increase again in 2024, especially in the second half of the year. Among them, the exports of two main seafood items, shrimp and pangasius, will recover after a sharp decline in 2023.

According to the forecast of the Vietnam Association of Seafood Exporters and Producers (VASEP), in 2024, Vietnam's shrimp exports are expected to increase by 10 - 15% compared to 2023; pangasius exports are expected to reach US$2 billion.

However, tensions in the Red Sea are causing many difficulties in the process of transporting export goods in general and seafood in particular, as shipping costs are increasing. The high prices reaching consumers will greatly affect purchasing decisions. Currently, enterprises are considering focusing on exporting to some nearby markets to reduce transportation costs.