Agricultural, forestry and fishery exports in the first quarter increased by nearly 100%

DNVN - The total export turnover of agricultural, forestry and fishery products in the first 3 months of 2024 is estimated at 13.53 billion USD, an increase of 21.8% over the same period last year. With this result, the entire agricultural, forestry and fishery sector had a trade surplus of 3.36 billion USD in the first quarter of 2024, an increase of 96.5% over the same period last year...

According to the Ministry of Agriculture and Rural Development , in the first quarter of 2024, the total export turnover of agricultural, forestry and fishery products in the first 3 months of 2024 is estimated at 13.53 billion USD, an increase of 21.8% over the same period last year. With this result, the entire agricultural, forestry and fishery sector had a trade surplus of 3.36 billion USD in the first quarter of 2024, an increase of 96.5% over the same period last year...

China, the US and Japan continue to be the three largest export markets for Vietnam's agricultural, forestry and fishery products. Of which, the export value to China accounted for 20.2%, up 18.3%; the US accounted for 19.9%, up 28.3% and Japan accounted for 7%, up 4.6%.

Coffee has become the fastest growing agricultural export product in the first quarter of this year. In the first 3 months of 2024, Vietnam exported 799 thousand tons of coffee, earning 1.9 billion USD; up 44.45% in volume and 54.2% in value over the same period in 2023.

Accordingly, coffee export turnover set a historical record when it nearly reached the 2 billion USD mark after only 3 months. Notably, the export price of coffee increased sharply, averaging 2,373 USD/ton in 3 months.

"Coffee is currently the second highest export commodity in the agricultural sector, behind only wood products and surpassing seafood. With this situation, it is forecasted that coffee exports for the whole year of 2024 will set a record of 5 - 5.5 billion USD," the Ministry of Agriculture and Rural Development forecast.

Total export turnover of agricultural, forestry and fishery products in the first 3 months of 2024 is estimated at 13.53 billion USD.

According to the Ministry of Agriculture and Rural Development, rice exports also grew impressively, with an export volume of 2.07 million tons and a turnover of 1.37 billion USD; an increase of 12% in volume and 40% in turnover compared to the first 3 months of 2023. Vietnam continues to be one of the three leading rice exporting countries in the world, accounting for about 15% of total global rice exports, along with India and Thailand.

The Philippines is the largest consumer market for Vietnamese rice. Currently, Vietnamese rice accounts for 85% of the total rice imported by the Philippines.

Indonesia is the second largest importer of rice from Vietnam. Indonesia is currently experiencing a rice deficit for 9 consecutive months due to domestic production falling short of demand. The retail price of high-quality rice in the market is up to 1.16 USD/kg, exceeding the ceiling price set by the Government at 0.9 USD/kg.

Faced with this situation, experts recommend that Vietnamese rice exporting enterprises need to closely monitor market information and take advantage of opportunities to export rice to the Philippines and Indonesia markets.

However, rice exporting enterprises also need to diversify their rice export products, not only focusing too much on high-quality rice products serving high-income people, but also need to exploit the potential of medium-quality rice to serve a large number of middle- and low-income people.

For the fruit and vegetable industry, in March 2024, the export turnover reached 433 million USD. In the first 3 months of 2024, the export turnover of fruits and vegetables reached 1.23 billion USD, an increase of 25.8% over the same period last year.

With positive market signals, the Ministry of Agriculture and Rural Development forecasts that in 2024, the fruit and vegetable industry will continue to receive new records of 6-6.5 billion USD; growth rate of 15-20% compared to 2023. China will continue to be a potential market for Vietnamese fruit and vegetable products due to geographical advantages and many similarities in culinary culture.

Ha Anh

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