AsemconnectVietnam - Vietnam’s total export turnover from farm, forestry and seafood sector was estimated at 13.53 billion USD in the first quarter of this year, up by 21.8% year-on-year.

In the first quarter of this year, four commodities recorded an export value of over 1 billion USD each and had impressive year-on-year growth rates, including wood, fruits and vegetables and fruits, rice and coffee.
According to the prediction of the Ministry of Agriculture and Rural Development Vietnam has many opportunities in rice export this year.
Deputy Minister of Agriculture and Rural Development Phung Duc Tien said that Vietnam’s farm-forestry-fishery sector is able to earn 54-55 billion USD in export revenue this year as assigned by the Prime Minister.
Vietnam's exports of wood and forest products in the first quarter of 2024
According to the Ministry of Agriculture and Rural Development, in the first quarter of 2024, Vietnam’s exports of wood and products earned 3.61 billion USD. Currently, the United States, China, Japan, Korea, EU, Canada, and the UK were the main export markets for Vietnamese wood and forest products.
In 2024, the forestry industry strives for the export value of wood and forest products to reach 15.2 billion USD, of which the exports of wood and wood products reach over 14.2 billion USD, an increase of about 6% compared to 2023.
Mr. Do Xuan Lap - Chairman of Vietnam Timber and Forest Products Association - shared that the US market is showing signs of recovery with forecasts that real GDP will increase by 2.2% in 2024, according to a survey. Monitoring at a number of wood and furniture fairs in early 2024 in the United States shows that many customers have come to visit and learn.
The South Korean market has a forecast growth rate of 1.4% in 2024. Many Korean businesses are actively participating in furniture fairs in Southeast Asia (Indonesia, Malaysia, and Vietnam) to find partners and manufacturers. Maybe this is a sign of recovery in exports to this market.
According to Statista's assessment, by 2024 the furniture market in Europe will have a revenue of about 236.8 billion USD, with a compound growth rate of 3.28%. The exports of living room furniture is estimated to reach 62.73 billion USD by 2024, dominating this market.
With the prospects in key export markets as above, the wood industry business community will make efforts to overcome difficult challenges, striving to contribute to the good implementation of the plan that the Ministry has oriented, achieving export turnover. Wood and forest product exports may reach 14.1 billion USD in 2024.
Vietnam's fruit and vegetable exports in the first quarter of 2024
According to the Ministry of Agriculture and Rural Development, in the first quarter of 2024, Vietnam's fruit and vegetable exports earned 1.23 billion USD. This was the first time Vietnam's fruit and vegetable exports have reached and exceeded 1 billion USD in the first quarter of the year. This showed that the fruit and vegetable industry has many growth prospects in the near future. The important consumer markets were still China, Korea, the US, Thailand, and Japan.
China continued to be Vietnam's largest fruit and vegetable export market
The Vietnam Fruit and Vegetable Association said that our country's fruit and vegetable export industry made a breakthrough in the first quarter of 2024 thanks to the huge contribution of off-season durian, when countries around the world, especially Thailand, has increased purchases of this fruit recently.
Forecasting the export prospects of this industry in 2024, Mr. Dang Phuc Nguyen said that the market will continue to have positive developments, especially from the Chinese market. Currently, China is Vietnam's largest fruit and vegetable export market, accounting for more than 60% of the country's turnover.
Vietnam's rice exports in the first quarter of 2024
The Ministry of Agriculture and Rural Development said that by the end of the first quarter of 2024, rice exports earned 1.37 billion USD; the average rice export price reached 661 USD/tonne, up by 5% over the same period last year.
Although the world situation will still have many difficulties, rice exports have shown optimistic signs right from the first months of 2024. It is expected that Vietnam's rice exports will continue to prosper, moving towards the golden milestone of 5 billion USD.
The experts said that this year is also the year the world rice market is forecast to have many fluctuations in terms of output, demand and related policies from leading rice exporting countries. Therefore, innovating production and flexibly managing rice exports will be important conditions for Vietnam's rice industry to achieve expected growth.
Vietnam's coffee exports in the first quarter of 2024
According to the Ministry of Agriculture and Rural Development, by the end of the first quarter of 2024, coffee exports earned 1.9 billion USD, an increase of 54% over the same period last year. This is a historic record number compared to the same period in previous years.
According to Mr. Nguyen Nam Hai - Chairman of the Vietnam Coffee - Cocoa Association (VICOFA), from the beginning of the year until now, the average export coffee price has been very high, up to 3,200 USD/tonne.
Mr. Nguyen Nam Hai said that, since the beginning of the year until now, coffee prices have increased continuously, reaching the highest point of 102,000 VND/kg. Besides the advantage that farmers can sell at high prices, there are also some problems such as supply chain disruption. The fact that farmers do not sell to exporters but sell to agents and traders leads to a broken supply chain. Rising coffee prices also cause many businesses to face difficulties, even lose money, and not deliver on time. Many people worry that too high coffee prices will cause foreign roasters to look for new sources of supply.
According to several opinions, Vietnamese coffee is an irreplaceable product in the European market. Or at least the world needs a lot of time to change the current 'taste' of coffee. The role of Vietnamese coffee is irreplaceable. With current market developments, Vietnam's coffee exports in 2024 are sure to reach 5 billion USD. The main issue is the need of paying attention to a sustainable coffee industry.
CK
Source: VITIC/congthuong.vn