Tuesday, May 21,2024 - 3:56 GMT+7  Việt Nam EngLish 

Agricultural industry had 3 more billion-dollar export commodity groups 

 Thursday, March 28,2024

AsemconnectVietnam - By March 15, the agricultural sector had 5 export commodity groups with a turnover of 1 billion USD or more, an increase of 3 groups compared to the same period of 2023.

Racing to prosper
According to the latest preliminary statistics figures of the General Department of Customs (from the beginning of 2024 to March 15), the 5 billion-dollar export commodity groups of the agricultural industry were: wood and wood products, coffee, seafood, vegetables, and rice.
Among them, 3 new product groups reached billion-dollar turnover in the first 2.5 months of the year were coffee, vegetables and rice.
Specifically, coffee exports reached a turnover of 1.574 billion USD, an increase of 61.1% over the same period last year (equivalent to an increase in turnover of nearly 600 million USD).
The exports of rice reached 1.06 billion USD, an increase of 53.7% (equivalent to an increase in turnover of 370 million USD).
The exports of fruits and vegetables reached 1.03 billion USD, an increase of 40.3% (equivalent to an increase in turnover of nearly 300 million USD).
Notably, not only the 3 new product groups; but the remaining 2 billion-dollar groups also had high growth.
Wood and wood products continued to be the largest export group of the agricultural industry with a turnover of 2.86 billion USD, an increase of approximately 30% (equivalent to an increase in turnover of nearly 660 million USD).
The exports of seafood reached 1.546 billion USD, an increase of nearly 10.6% (equivalent to an increase in turnover of nearly 150 million USD).
Thus, the increase in turnover of these 5 key product groups alone has reached more than 2 billion USD.
The fact that all 5 product groups achieved high double-digit growth results is a very important sign of optimism in the context that in 2023, many groups experienced a sharp decline in turnover compared to 2022.
The main export markets of the agricultural sector were the United States, China, EU, Japan, and ASEAN.
Aiming for many records
The results achieved above are considered record numbers in the first months of the year for exports of these important industries.
With a positive start and forecast of favorable factors for the world and domestic economies, the Ministry of Agriculture and Rural Development recently set the export target for agricultural, forestry and fishery industry of 55 billion USD in 2024.
Regarding agricultural products, coffee; vegetables; and rice are forecast to continue to be the key commodity group with strong growth.
Especially according to analysis by experts, in the coffee industry, domestic and world prices are at the highest level ever. Therefore, it is forecast that in 2024, coffee exports will set a record and earn a turnover of about 5 billion USD.
Similarly, rice products are also looking forward to a successful year, when many optimistic signals have come from important export markets right from the beginning of the year and turnover is expected to reach and exceed 5 billion USD.
Thus, the agricultural product sector alone will have 3 products entering the 5 billion USD export club including vegetables, coffee, and rice.
Maintaining a leading position and high growth, the two main product groups are wood and wood products; fisheries also aim for positive results in 2024.
According to Ms. Nguyen Thi Thu Sac, Chairwoman of the Vietnam Association of Seafood Exporters and Producers (VASEP), with the efforts, flexibility and adaptation of seafood businesses and the support of the Government and other organizations, ministries and branches, in 2024, seafood exports will be higher than in 2023 and can reach a turnover of up to 9.5 billion USD.
Wood and wood products are expected to earn a turnover of about 15 billion USD this year, although not as good as the record of 16 billion USD in 2022, but also an important optimistic result in the context of a deep decline in 2023. At the same time, this continues to be the only export group of tens of billions of dollars in the agricultural industry.
Source: VITIC/ haiquanonline.com.vn


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