AsemconnectVietnam - Several agricultural products saw impressive increases in August of this year.

In the agricultural sector, the exports of cashew nuts reached 334 million USD, up by 9.7%; rice reached 546.4 million USD, up by 50.7%.
Most notable in the agricultural sector was vegetables and fruits. In August of this year, the export turnover of this product reached 464.47 million USD, an increase of 14.8% compared to the previous month. Overall, the country’s total fruit and vegetable exports in the first 8 months of the year reached 3.55 billion USD, up by 61.8% over the same period last year. It's only been 8 months but the turnover has already exceeded 2022 (last year the figure reached 3.36 billion USD).
In addition to vegetables and fruits, by the end of August, there were 6 commodity groups in the agricultural sector with a turnover of 1 billion USD or more, including: wood and wood products with 8.48 billion USD; seafood with 5.8 billion USD; rice reached 3.16 billion USD; coffee reached 2.96 billion USD; cashew nuts reached 2.28 billion USD; and rubber reached 1.62 billion USD.
The main export markets of the agricultural sector included the United States, China, EU, and Japan.
In 2023, the agricultural sector may reach the export target of 54 to 55 billion USD.
The following were the exports of several agricultural items in August and the first eight months of 2023:
Rice exports:
According to the latest statistics figures from the Ministry of Agriculture and Rural Development, in the first eight months of 2023, rice exports reached 3.17 billion USD, up by 36.1% over the same period last year.
There was a very strong increase in the export turnover of the group of agricultural, forestry and fishery products. Rice and vegetables were also two of the agricultural products with high export turnover in recent years.
Notably, a series of information on the rice export market is continuing to have a strong impact on the export price of rice. Specifically, recently, the Government of India announced that it will apply an export tax of 20% for parboiled rice. The notice was issued by the Ministry of Finance on August 25, effective immediately and will be applied until October 16 of this year.
At the same time, India has also applied an export floor price for basmati rice at 1,200 USD/tonne. Previously, the country had banned the exports of non-basmati white rice since July. India and Pakistan are the world's two largest basmati rice export markets. Every year, India supplies about 4 million tonnes to countries such as Iran, Iraq, the US, and Saudi Arabia. The new moves by India may push world rice prices higher.
Not only India, Myanmar is also planning to temporarily limit rice exports to meet domestic consumption. According to the data from the United States Department of Agriculture (USDA), Myanmar is the fifth largest rice exporter in the world, selling more than 2 million tonnes of rice per year.
According to the Ministry of Agriculture and Rural Development, the amount of rice used to ensure food security of 100 million people and other domestic consumption needs (for processing, animal feed, stockpiling in the population, storing food, etc.) is about 29.5 million tonnes of paddy/year. Therefore, in 2023, Vietnam has about 13.5 million tonnes of paddy (equivalent to 7-8 million tonnes of rice) for export.
Engaged in State management of rice export, over the past time, the Ministry of Industry and Trade has continuously made recommendations on the fact that besides promoting rice exports, localities and businesses need to pay attention to the storage of rice to avoid an abnormal increase in prices, affecting people's lives, especially during the holidays and New Year's end of the year. On August 15, 2023, the Minister of Industry and Trade issued Directive No. 07/CT-BCT on strengthening market information, trade promotion, rice export market development and market stabilization in the country in the current period.
In the coming time, the Ministry of Industry and Trade will coordinate with the Ministry of Agriculture and Rural Development to closely monitor and promptly report to the Price Management Steering Committee and the Domestic Market Management Team on the situation of production and supply. Agricultural products are in the harvest season, prices fluctuate, especially those that are heavily affected by the world market such as rice.
Rubber exports
In the first 8 months of 2023, Vietnam’s rubber exports reached about 1.18 million tonnes, worth of 1.59 billion USD, down by 1.4% in volume and down by 20.7% in value compared to the same period of 2022.
The Import-Export Department (under the Ministry of Industry and Trade) cited data from the General Department of Customs as saying that Vietnam's rubber exports in August of 2023 reached about 200,000 tonnes, worth of 260 million USD, down by 8.9% in quantity and down by 9.5% in value compared to July of 2023.
In comparison to August of 2022, it decreased by 8.8% in volume and 21.9% in value. The average rubber export price was 1,298 USD/tonne, down by 0.6% compared to July of 2023 and down by 14.4% compared to August of 2022.
Totally in the first 8 months of 2023, Vietnam’s rubber exports reached about 1.18 million tonnes, worth of 1.59 billion USD, down by 1.4% in volume and down by 20.7% in value compared to the same period of 2022.
Pepper exports
In the first 8 months of 2023, Vietnam's pepper exports reached a value of 600 million USD. It is forecast that Vietnam's pepper exports in the coming time will maintain a low level.
The Import and Export Department (Ministry of Industry and Trade) quoted data from the General Department of Customs as saying, it is estimated that Vietnam's pepper exports in August of 2023 reached 16,000 tonnes, worth 60 million USD, up by 4.9% in volume and increased by 5.4% in value compared to July of 2023. In comparison with August of 2022, the figure was down by 13.4% in volume and 20.2% in value.
In the first 8 months of 2023, Vietnam's pepper exports reached about 184,000 tonnes, worth of 600 million USD, up by 14.5% in volume, but down by 15.9% in value over the same period last year.
In August of 2023, the average export price of Vietnam's pepper was estimated at 3,748 USD per tonne, up by 0.5% compared to July of 2023, but down by 7.9% compared to August of 2022. In the first eight months of 2023, Vietnam's average export price of pepper was estimated at 3,263 USD per tonne, down by 26.5% over the same period last year.
It is forecast that in the short term the global pepper market will be under pressure from weak demand from the United States, Europe and China. However, the supply from Vietnam limited the positive impact on global pepper prices.
It is forecast that Vietnam's pepper exports in the coming time will maintain a low level. The domestic supply is no longer abundant, and the demand from the US, EU and China markets has not really improved.
Cashew exports
In August of 2023, Vietnam's cashew exports reached a new record high of 60,580 tonnes, worth of 333.83 million USD.
The Import-Export Department (under the Ministry of Industry and Trade) cited the statistics figures from the General Department of Customs as saying that in August of 2023, Vietnam's cashew nut exports continued to record a new record high of 60,580 tonnes, worth of 333.83 million USD, an increase of 10.8% in volume and an increase of 9.7% in value compared to July of 2023. The figure saw an increase of 29.2% in volume and an increase of 21.8% in value compared to August of 2022.
In the first 8 months of 2023, Vietnam's cashew exports reached nearly 395,600 tonnes, worth of 2.28 billion USD, up by 15.5% in volume and 11.3% in value compared to the same period last year.
In August of 2023, Vietnam's average cashew export price reached 5,510 USD/tonne, down by 1% compared to July of 2023 and down by 5.7% compared to August of 2022. In the first 8 months of 2023, Vietnam's average cashew export price reached 5,760 USD/tonen, down by 3.6% over the same period of 2022.
In August of 2023, cashew nut exports to many key and potential markets increased compared to the same period of 2022. Notably, cashew nut exports to the United Arab Emirates and Saudi Arabia markets saw double-digit growth.
Overall, in the first 8 months of 2023, cashew exports to all major markets increased. In particular, cashew nut exports to China, Germany, England, the United Arab Emirates, and Saudi Arabia increased compared to the same period last year.
This year, the cashew industry aims to export more than 3.1 billion USD worth of cashew nuts. Besides the favorable factors, this industry still faces many challenges. Notably, factories must depend on 50 - 60% of imported raw materials. To improve this problem, the key step is to promote renovation and improve the yield and quality of Vietnamese cashew trees.
CK
Source: VITIC/congthuong.vn