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Viet Nam accelerated its agricultural export activities at the end of the year

 Last Update: 2022-10-31
 Source: Internet
 Author: User

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According to the General Bureau of Statistics, the agricultural sector has achieved high growth since the beginning of the year, despite the implementation of production plans under adverse weather conditions, a sharp increase in the price of raw materials and materials for agricultural production, and the impact of the Russia-Ukraine conflict that has exacerbated the global food crisis; Productivity and production of many staple products have increased, ensuring an adequate supply of food, food and essential goods, contributing
to the country's economic growth and increased export value.

Many products have exceeded the $2 billion mark

Statistics from Vietnam's Ministry of Agriculture and Rural Development show that in the first nine months of 2022, the total import and export of agriculture, forestry and fishery products reached about US$74.
7 billion, a year-on-year increase of 10.
7%.

Among them, the export value reached about 40.
8 billion US dollars, an increase of 15.
2%; Imports reached about US$33.
9 billion, an increase of 5.
7%; The trade surplus was about $6.
9 billion, double that of the same period in 2021
.
There are seven product categories with an export value of more than US$2 billion, including aquatic products, coffee, rice, rubber, fruits and vegetables, cashew nuts, wood and wood products
.

As of the third quarter of 2022, Vietnam's aquatic products exports reached US$8.
5 billion, a year-on-year increase of 38%,
said Le Song, deputy manager of VASEP Trade Promotion and Training Center.
Shrimp exports reached US$3.
4 billion, an increase of 23%; The export value of fishing reached nearly US$2 billion, an increase of 82%; The export value of aquatic products reached nearly US$3.
2 billion, a year-on-year increase of 33%.

In terms of market, it is worth noting that in the first nine months of this year, exports of aquatic products to the European Union (EU) exceeded $1 billion, an increase of 41%
year-on-year.
In addition, the United States remained the largest market in the first three quarters of 2022, reaching nearly $1.
8 billion, an increase of 22%; China was the fastest growing market at 76% at $1.
35 billion
.
It is estimated that by the end of November 2022, the export value of aquatic products will reach 10 billion US dollars
.

In the first nine months of 2022, exports of fruits and vegetables reached US$2.
45 billion, down 11%
year-on-year.
The reason is that the export of fruits and vegetables to the Chinese market fell sharply, reaching only US$1.
06 billion, a year-on-year decrease of 30.
5%.

As a result, the fruit and vegetable industry is striving to achieve its export
value of US$3.
2 billion by 2022.
Recently, the United States announced that it would allow the import of fresh grapefruit from Vietnam
.
This is an opportunity for Vietnamese enterprises to increase exports of high value-added products in the last months of this year, driving a surge in
exports of fruits and vegetables.
According to the Plant Protection Bureau, durian and grapefruit are two dominant fruits in Vietnam, and after being officially exported to the Chinese and American markets, they will gain very high economic value
.

In addition, one of the export products that is expected to grow significantly in the last months of the year is rice
.
In the first nine months of 2022, rice exports reached US$2.
6 billion, up 9.
3%
year-on-year.
According to the 2022 plan, Vietnam exports about 6.
3 million to 6.
5 million tons of rice, with an export value of about 3.
2 to 3.
3 billion US dollars.

Vietnam's export rice prices are also quite high, specifically, in mid-October 2022, the export price of 5% broken rice rate rice was $428/mt, which is $15/mt higher than the same type of rice in Thailand and $55/mt
higher than India's similar type of rice.

On the other hand, at the beginning of September 2022, the "Vietnamese Rice" brand rice was exported to the European market for the first time and was put on the shelves of the
French supermarket chain.
This is a new step
in the race for quality and value of rice in Vietnam.

Capture market demand

Truong Dinh Huai, secretary general of the Vietnam Aquatic Products Processing and Export Association (VASEP), said that the aquaculture industry is expected to grow by leaps and bounds in the last months of this year
due to the increased consumer demand in many countries as they prepare for the New Year and festivals.
However, against the backdrop of declining purchasing power due to inflation in many countries, the aquaculture industry will turn to the production of processed products to promote consumption
.
At the same time, continue to focus on the Chinese market, as demand in this market is gradually recovering, coupled with geographical advantages and low transportation costs
.

In order to capture the market demand in the final months, Fan Guoqing, director of the import and export operation department of Anjiang Aquatic Products Import and Export Joint Stock Company, said that at present, freight costs to Europe and the United States still tend to increase
.
Therefore, if the Chinese market reopens after a long period of control of the Covid-19 epidemic, it will be an opportunity for businesses to take advantage of exports, both increasing export value and reducing costs and delivery times
.

Against the backdrop of reduced purchasing power due to inflation in many countries, the aquaculture industry will shift to the production of processed products to promote consumption
.
At the same time, continue to focus on the Chinese market, as demand in this market is gradually recovering, coupled with geographical advantages and low transportation costs
.

Truong Dinh Huai, Secretary General of Vietnam Aquatic Products Processing and Export Association

In terms of fruits, Vietnam has a great advantage in the quality market, so enterprises need to step up to meet all the conditions of quality, food hygiene and safety to penetrate the market
deeply.
Nguyen Thi Thiu Shui, deputy manager of the Export Support Center of the Trade Promotion Bureau of the Ministry of Industry and Trade of Vietnam, said that the consumption demand for fruits in the United States is huge, up to 12 million tons
per year.
At present, the fresh fruit production in the United States meets only 70% of demand, and the remaining 30% is imported, equivalent to about 3.
6 million tons
.
Vietnamese fruits have more
leeway in the U.
S.
market.
Currently, grapefruit is the 7th fresh fruit
allowed to be imported in the United States.
In addition, other fruits such as coconut and durian are still exported to the United States
in frozen form.

At present, Vietnam's agricultural exports are entering the "sprint" stage to reach the finish line
.
In the first nine months of 2022, the trade surplus of nearly 7 billion US dollars and the added value of agriculture, forestry and fishery products increased by 2.
99% year-on-year, so in the last months of this year, if companies successfully capture market demand, it will be an opportunity
to achieve the target of 55 billion US dollars in exports in 2022.
(End)

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