Rice, coffee, and vegetables reach new records.

In the first 10 months of this year, the total export value of the agriculture, forestry, and fisheries sector is estimated at 51.74 billion USD, with rice, coffee, and fruits and vegetables reaching historical peaks.

Rice exports in the first 10 months exceeded those of the entire year 2023.

According to data from the Ministry of Agriculture and Rural Development , the export value of agricultural, forestry, and aquatic products in October 2024 is estimated at over 5.9 billion USD. For the first 10 months of the year, the total export value of the agricultural, forestry, and aquatic product sector exceeded 51.7 billion USD, an increase of 20.2% compared to the same period in 2023. Of this, the export value of agricultural products reached 27.38 billion USD, an increase of 25.6%.

Rice exports in the first 10 months of this year reached $4.86 billion, surpassing the total for 2023. Photo: MH

In the bright picture of the agricultural, forestry, and fisheries sector, rice stands out. Accordingly, rice export turnover in the first 10 months of this year reached US$4.86 billion, surpassing the US$4.67 billion figure for the whole of 2023. Compared to the same period last year, the export value of this commodity increased by 23.4%.

In addition, the average export price of rice in the first 10 months of 2024 is estimated at over 626 USD/ton, an increase of 12% compared to the same period in 2023. This is also a record high average price compared to previous years.

According to the Ministry of Agriculture and Rural Development, as of the end of September 2024, exports to the traditional market of the Philippines increased sharply by 53.3%, to the Indonesian market by 35.1%, and to the Malaysian market by 2.3 times compared to the same period last year.

According to Mr. Phung Duc Tien, Deputy Minister of Agriculture and Rural Development, Vietnam exported over 8 million tons of rice last year. This year, in just the first 10 months, rice exports have already reached 7.8 million tons. If we include the last two months of the year, rice exports will certainly surpass the 2023 figure.

According to Mr. Phung Duc Tien, India recently lifted its rice export ban and reduced export taxes, which affected the price of Vietnamese 5% broken rice. However, the fragrant rice and premium rice segments in Vietnam are selling at high and stable prices. This is encouraging.

Based on the results achieved in the first 10 months, the Ministry of Agriculture predicts that rice exports will exceed the target of 5 billion USD.

Vietnam confident of surpassing $7 billion in fruit and vegetable exports.

For fruits and vegetables, export turnover also set a historical record, earning $6.34 billion in just 10 months, a sharp increase of 31.5% compared to the same period in 2023. Contributing to this record figure was the booming durian export season, bringing in over $3 billion in the first 10 months of this year. In addition, exports to the Chinese market also increased sharply by 37.8% compared to the same period in 2023, reaching $3.8 billion in the first nine months.

Durian exports have boomed, generating approximately over $3 billion in revenue during the first 10 months of this year. Photo: VITV

Overall, markets experienced double-digit growth, with the highest increases seen in exports to Thailand, South Korea, Germany, and Canada. Recently, the Protocol authorizing the export of frozen durian and fresh coconuts from Vietnam to the Chinese market has become a new factor boosting Vietnam's fruit and vegetable exports.

At the first Vietnam Fruit Festival held in Beijing, China, at the end of September 2024, many Vietnamese businesses shared that they had signed export contracts for 30-50 containers, and some even reached agreements to supply 1,500 containers to their Chinese partners. This is a positive sign for the future of Vietnam's coconut industry in the market of 1.4 billion people.

According to Mr. Dang Phuc Nguyen, Secretary General of the Vietnam Fruit and Vegetable Association, Vietnam will continue to supply off-season durian in November and December, ensuring supply when other countries have no stock. This creates an advantage for Vietnam, helping to drive up durian prices.

Furthermore, other fruits also benefit from the arrival of winter, a time when many countries face harvesting difficulties, while Vietnam maintains favorable conditions for growing fruits and vegetables. In particular, the advantage of road, sea, and rail connections with China helps save costs and transportation time, creating significant opportunities for Vietnamese businesses.

This year, durian exports are projected to increase by 45% compared to last year. Similarly, fresh coconut exports could increase by 1.5 times compared to last year. According to calculations by the agricultural sector, fruit and vegetable exports this year could exceed $7 billion, an increase of nearly 20% compared to last year.

Coffee exports set a new record.

Regarding coffee exports, in the first 10 months of 2024, exports reached 1.2 million tons, generating $4.6 billion in revenue. Although the volume of coffee exports decreased by 10.8% compared to the same period last year, the value increased sharply by more than 40%.

In the first 10 months of 2024, coffee exports reached 1.2 million tons, earning $4.6 billion.

This is due to the average export price of coffee over the past 10 months reaching an estimated $3,981 per ton, a 57% increase compared to the same period last year. Meanwhile, key export markets have increased their purchases of this bean from Vietnam. In particular, exports to the Philippines and Malaysia have both increased by 2.2 times compared to 2023. As a result, export turnover of this commodity has set a historical record even though there are still two months left in the year.

According to Mr. Do Ha Nam, Vice President of the Vietnam Coffee and Cocoa Association, 2024 will be a very special year for this industry. For the first time, Vietnamese coffee prices will be the highest in the world ; the export price of Robusta coffee (the type of coffee that Vietnam produces the most in the world) will be higher than the price of Arabica coffee.

Businesses and experts also believe that 2024 was a "miracle year" for the Vietnamese coffee industry. Prices soared to levels that were "unbelievable even in dreams." Not only did it record numerous price and export records, but Vietnamese coffee is increasingly demonstrating its crucial role in meeting global market demand.

According to calculations by the agricultural sector, coffee exports this year will reach the target of exceeding $5 billion.

Mr. Phung Duc Tien, Deputy Minister of Agriculture and Rural Development, emphasized:

Vietnam currently ranks second in Southeast Asia and 15th in the world in agricultural exports. Vietnam's agricultural exports are reaching an all-time high. This year, we aim to achieve the highest export value for agricultural products ever.

In October, total agricultural exports reached $5.91 billion. For the last two months of the year, if exports reach $5.5 billion per month, the agricultural sector will achieve its target of $62 billion.

This success stems from the restructuring of the agricultural sector over the past decades, building a stable and open market system. In addition, the protocols signed with China have opened the door for Vietnamese products such as coconuts, frozen durian, and crocodiles to enter the Chinese market.

Recently, during his visit to the UAE, Prime Minister Pham Minh Chinh witnessed the signing of the Comprehensive Economic Partnership Agreement, Vietnam's first free trade agreement with an Arab country. Strengthening cooperation with the Middle East also helps Vietnam penetrate deeper into the Halal market, which has high demand for Halal products and a high-end market segment.

With these advancements, Vietnam's agricultural sector is increasingly confident in conquering demanding and potentially lucrative markets on a larger scale. Amidst complex global political, social, and environmental developments, Vietnamese agricultural products continue to reach nearly 200 countries, contributing to food security and nutrition for many regions.

Source: https://congthuong.vn/xuat-khau-nong-san-gao-ca-phe-rau-qua-don-ky-luc-moi-356105.html