AsemconnectVietnam - Wood and wood products; vegetables; rice; coffee; cashew; and shrimp were 6 agricultural, forestry and fishery products with export turnover of over 3 billion USD in 2023.

Earning 13.4 billion USD, export of wood and wood products recorded no growth for the first time
According to estimated data from the General Department of Customs, in 2023, the export turnover of wood and wood products was estimated to reach 13.4 billion USD, down by 16.2% compared to 2022. In particular, the export turnover of wood products was estimated to reach 9.2 billion USD, down by 22.9% compared to 2022. With this result, the wood industry has only achieved about 79% of the target of 17.5 billion USD set in early 2023.
In the context of low global economic growth, weak global consumer demand, increased protection barriers, and many countries continuing to maintain tight monetary policies, the exports of wood and wood products is going to face many difficulties. In addition, major economies that are Vietnam's export partners such as the United States and the EU reduced spending on purchasing common and non-essential products, making it difficult for exported wood and wood products to recover. In 2024, difficulties with the wood industry are forecast to last as unfavorable factors still exist such as the widespread geopolitical crisis, world economic recession, and major export markets that have not yet recovered. Although inventories in major consumer markets tend to decrease, the recovery momentum is still relatively slow, and global consumption has not yet seen a clear recovery.
Along with that, the wood industry still faces challenges such as competitive orders and increasingly high design and quality requirements. Because foreign trade barriers are increasingly strict, certificates on sustainable forest management or carbon emission reduction certificates will later require wood products exported to foreign markets to comply.
In 2024, the forestry industry targets export turnover of 17.5 billion USD. In the context of the export market still having many challenges, Mr. Nguyen Quoc Tri - Deputy Minister of Agriculture and Rural Development said that these targets are quite high and asked the Forestry Department to review this target.
Earning 5.69 billion USD, fruits and vegetables have the strongest export growth rate among agricultural, forestry and fishery products
According to the Ministry of Agriculture and Rural Development, by the end of 2023, fruit and vegetable exports reached 5.69 billion USD, an increase of 69% compared to 2022. This is the item with the strongest export growth rate among all agricultural, forestry and fishery products.
Notably, durian products have made a very positive contribution to the growth of the fruit and vegetable industry with a proportion of more than 40%, export turnover is expected to reach more than 2.2 billion USD, 5 times higher than in 2022.
In the coming year 2024, with an optimistic perspective, Mr. Dang Phuc Nguyen - General Secretary of the Vietnam Fruit and Vegetable Association (Vinafruit) commented that Vietnam's fruit and vegetable industry is forecast to continue to reach a new peak, possibly surpassing the figure of 6 billion USD, will even reach the 7 billion USD mark, thereby being the driving force to become a fruit and vegetable export powerhouse.
Mr. Dang Phuc Nguyen expects that, after the visit of General Secretary and President of China Xi Jinping to Vietnam, Vietnam's fruit and vegetable exports to the market of 1.4 billion people will expand in terms of products scale and market share.
According to Deputy Minister of Agriculture and Rural Development Phung Duc Tien, if Vietnam signs the Protocol to export frozen durian to China in the near future, the export value will certainly increase higher. Besides durian, Deputy Minister Phung Duc Tien said that coconut is also a product with great potential, especially in the Chinese market. Currently, the coconut growing area in Vietnam is about 194,000 hectares, with an output of 1.4 million tonnes.
Rice exports earned 4.78 billion USD, reaching a 34-year peak
2023 is considered to be a successful year for Vietnam's rice industry when all the elements of weather, terrain, and humanity converge, thereby helping rice exports earn 4.78 billion USD, an increase of 38.4 % over the same period last year with an output of about 8 million tonnes (according to data from the Ministry of Agriculture and Rural Development).
Notably, although the planted area in 2023 decreased by 9,000 hectares, but the yield increased by 1 tonne/hectare, resulting in rice output for the whole year of 2023 still reaching 43.5 million tonnes.
According to Mr. Nguyen Nhu Cuong - Director of the Department of Crop Production (Ministry of Agriculture and Rural Development), in 2024, the rice production plan will be slightly adjusted, we will only plant 7.1 hectares of rice, the area has decreased slightly, but Vietnam strives to still harvest rice output of over 43 million tonnes.
Rice export prices on the world market are forecast to remain high in 2024 - 2025, which is favorable for Vietnam's rice production.
If the situation is favorable, production plans are guaranteed, the impacts of the El Nino phenomenon are minimized, and no large-scale epidemics or natural disasters occur, leaders of the Department of Crop Production forecast that the country’s rice exports in 2024 may reach 7.5 - 8 million tonnes.
Coffee exports earned 4.18 billion 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 it is estimated that Vietnam's coffee exports in 2023 reached approximately 1.61 million tonnes, worth of 4.18 billion USD, down by 9.6% in volume, but up by 3.1% in value compared to 2022. The average coffee export price in 2023 reached 2,834 USD/tonne, up by 14.1% compared to 2022.
In 2023, Vietnam's coffee exports got benefit from a sharp increase in Robusta coffee prices. At the end of the year, world Robusta coffee prices hit a 28-year peak due to concerns about low inventories and limited sales.
It is forecasted that in 2024, Vietnam's coffee industry will continue to benefit because Robusta coffee prices will remain high, possibly even peaking due to concerns about supply shortages.
According to the Vietnam Coffee and Cocoa Association, in the 2023/2024 crop year, Vietnam's coffee output is expected to decrease to 1.6 - 1.7 million tonnes, lower than 1.78 million tonnes in the 2022/2023 crop year.
In 2024, Vietnam's coffee industry focuses on many solutions for sustainable development and traceability, especially meeting the EU's EUDR anti-deforestation regulations. This will be one of the factors that help Vietnam's coffee industry boost exports to the EU market.
Many experts have also forecast that coffee exports in 2024 could reach from 4.5 to 5 billion USD.
Cashew exports earned 3.63 billion USD
After adjusting the plan in the direction of reducing value, cashew exports still earned 3.63 billion USD (according to data from the Ministry of Agriculture and Rural Development), higher than previous estimates (about 3.18 billion USD).
Vietnam is the largest importer of raw cashew nuts and the largest exporter of cashew kernels (accounting for about 70% of the world market). Vietnam is also the country that owns and produces most of the equipment for cashew processing, and has also become an exporter of machinery and equipment that other countries seek to buy. Furthermore, the quality of Vietnamese cashew nuts, assessed by consultants, importers, and roasters around the world, is fragrant and delicious, very unique compared to cashew nuts from other countries.
Cashew industry businesses say that cashew exports in 2024 have good prospects because many world markets such as the EU, Japan, etc. still have demand for cashew products.
Shrimp exports earned only 3.38 billion USD in 2023
The Ministry of Agriculture and Rural Development said that in 2023, Vietnam's shrimp exports only earned 3.38 billion USD, down by 21.7% over the same period last year.
Explaining this decrease, the Vietnam Association of Seafood Exporters and Producers shared that in the last month of 2023, there was a strong decrease from key markets such as the United States, EU, and China due to fluctuations, economics and previous inventory in markets, plus competition from shrimp from other countries.
Mr. Duong Long Tri - Deputy General Secretary of the Vietnam Seafood Association said that to date, farmed shrimp output was about 1.1 million tonnes, the export value still only ranged from 3.5 to 4 billion USD. Previously, our output was 700,000 tonnes and reached the same export value. Therefore, it is necessary to consider solutions for preliminary processing and processing to increase product value to increase export turnover.
Vietnamese shrimp is currently present in more than 150 countries. However, not only Vietnamese shrimp can conquer the world market, but many other countries are competing with Vietnamese shrimp by applying science and technology in shrimp production. Therefore, in order for Vietnamese shrimp to maintain this competitive position, experts believe that the Vietnamese shrimp industry must have its own directions.
CK
Source: VITIC/congthuong.vn