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Boosting agricultural exports to the EU

Việt NamViệt Nam27/05/2024

Vietnamese fruits have many opportunities to export to the EU market.

In the first 4 months of 2024, Vietnam's agricultural, forestry and fishery exports to European markets reached 2.55 billion USD, an increase of 38.6% over the same period in 2023. The market share of Vietnam's agricultural, forestry and fishery exports to Europe accounted for 13.4% of total export turnover.

Growth Signals

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam's shrimp exports to the EU market recovered growth in April 2024 after two months of sharp decline. The EU is the main import market that recorded the best growth in April this year, reaching 38 million USD, up 28% over the same period last year. In the first four months of this year, the cumulative value of shrimp exports to the EU reached 119 million USD, nearly equivalent to the same period last year.

Exports to major single markets in the bloc all grew by double digits. Exports to Germany, the Netherlands and Belgium increased by 29%, 37% and 39% respectively; exports to Denmark increased sharply by 88%. With a projected compound annual growth rate (CAGR) of around 7% in the coming years, the EU is a shrimp consumption market that offers many opportunities. Therefore, businesses need to innovate and diversify their products to maintain competitiveness in this market.

Regarding fruits and vegetables, information from the Import-Export Department ( Ministry of Industry and Trade ) said that the EU is currently the world's largest fruit and vegetable import market, but imports from Vietnam are still too low.

According to data from the European statistical agency (Eurostat), the EU's import value of fruits and vegetables in 2023 reached 136.3 billion USD, an increase of 8.2% compared to 2022. Of which, imports from Vietnam accounted for only 0.22% of the total import value. In January 2024, the EU's import value of fruits and vegetables reached 11.9 billion USD, an increase of 11.41% compared to January 2023. Of which, the import value from Vietnam accounted for only 0.16% of the total import value.

In the first 3 months of 2024, Vietnam's fruit and vegetable exports to the EU reached 72.1 million USD, reaching 24.3% of the 2023 turnover. The opportunity for Vietnamese enterprises to increase fruit and vegetable exports to the EU market is still very large.

Regarding coffee, the Institute of Policy and Strategy for Agricultural and Rural Development said that according to statistics from the European Coffee Federation, the EU has the highest per capita coffee consumption in the world. The size of the European coffee market is estimated to reach 47.88 billion USD in 2024 and is forecast to reach 58.14 billion USD in 2029, with an average growth of 3.96% in the period 2024-2029.

In the first quarter of 2024, Vietnam's coffee exports to the EU reached 778.9 million USD, accounting for 18.8% of the turnover in 2023, with a volume of 241.9 thousand tons, accounting for 13.4% of the volume in 2023. In the first quarter of 2024, the value of coffee exports to most traditional markets increased sharply. Specifically, coffee exports to the Italian and Spanish markets increased from 9% and 4.94% in the first quarter of 2023 to 10.18% and 7.81% in the first quarter of 2024, respectively.

Improve quality to increase turnover

Ms. Phung Thi Kim Thu, Shrimp Market Expert (VASEP), commented: In the EU market, Vietnamese shrimp must compete strongly with Ecuadorian shrimp. Ecuador has the advantage of cheap shrimp, meeting the trend of EU consumers, and has lower transportation costs. Ecuador is still the largest shrimp supplier to the EU market. The EU market requires farmed shrimp to meet ASC safety standards; suppliers have solutions to reduce emissions (farming, processing); traceability of origin (shrimp feed ingredients, parent shrimp...); animal welfare (parent shrimp are not cut off during artificial reproduction, raised at moderate density).

Therefore, shrimp exporting enterprises to the EU need to have a more systematic market approach strategy and further promote their product image marketing activities. Currently, markets such as Germany, the Netherlands, Belgium, etc. are tending to switch to more convenient shrimp products and value-added shrimp products. As for the markets of Spain, Portugal, Italy, France, etc., price plays an important role in determining market dynamics, so affordable whiteleg shrimp products will be more popular.

Meanwhile, Mr. Dang Phuc Nguyen, General Secretary of the Vietnam Fruit and Vegetable Association, also stated that many challenges are facing the fruit and vegetable industry as the EU is the world's most demanding market for quality. EU consumers pay attention to food hygiene and safety, and products without pesticide residues.

In the coming time, businesses need to invest more in technology and preservation techniques to create better quality products to have the opportunity to increase market share in the EU market. On the other hand, when exporting to this market, Vietnamese fruit and vegetable products will also have more advantages because they can easily be exported to many other markets thanks to quality and safety criteria.


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