Depth report

　　

According to Phong Duc Jin, Deputy Minister of Agriculture and Rural Development of Vietnam, in January 2024, Vietnam's total exports of agricultural, forestry and water products reached 5.14 billion US dollars, an increase of 79.2%. Among them, the export of agricultural products reached 2.71 billion US dollars, up by 93.8%; The export value of forest products was US $1.49 billion, up 72.5%; Exports of aquatic products reached 730 million US dollars, up 60.8%; Aquaculture reached $36 million, an increase of 3.5%. China continued to be the largest export market for Vietnamese agricultural products, accounting for 24% (up 106.9%). Followed by the United States, accounting for 20.8% (up 95.9%); Japan accounted for 7.4 percent (up 47.5 percent) and proposed a target of $54 to $55 billion in agricultural exports by 2024, with a focus on boosting exports of fruits and vegetables, rice, aquatic products and forest products.

Teng Phu Nguyen, secretary general of the Vietnam Fruit and Vegetable Association, said that the Vietnamese fruit and vegetable industry is expected to grow by 15 to 20 percent in 2024, continuing to set new records and is expected to reach $6 billion to $7 billion. In January 2024, Vietnam signed a series of orders to export agricultural products to major markets, such as the export of green mango from An Giang Province to the US and Australian markets.

Nguyen Ting Mei, deputy general manager of Vina T&T Import and Export Co., LTD., believes that Vietnam's aquatic products are expected to achieve breakthrough growth this year, and the current series of Vietnamese aquatic products have welcomed good news from Japan, the United States, Australia, China, the European Union and other major markets, which have broad space for development, providing opportunities for Vietnam's aquatic products exports.

In addition, Vietnamese rice will also have a successful year. In early 2024, many rice exporters received orders. Pham Thai An, chairman of Zhongan High-tech Agriculture Co., said it is expected that Vietnam's conservative rice exports in 2024 will be the same as in 2023, but the value of exports will be 15 to 20 percent higher. Rice exports amounted to $4.8 billion in 2023 and are expected to exceed $5 billion in 2024.