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Vietnam's exports of agriculture, forestry and fishery products are expected to reach a record US$55 billion in 2022

 Last Update: 2022-10-25
 Source: Internet
 Author: User

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As of October 2022, Vietnam exports a total of 7 types of agricultural products with a value of more than US$2 billion, namely coffee, rubber, rice, vegetables, cashew nuts, shrimp and wood products
.
Von Duc Jin, vice minister of agriculture and rural development, said that with the current growth momentum of the agricultural industry, exports of agriculture, forestry and fishery products are expected to reach 55 billion US dollars by the end of 2022, higher than the target of 5 billion US dollars
proposed by the government.

According to the Vietnam Aquatic Products Processing and Export Association (VASEP), despite the impact of difficulties such as global inflation, Vietnam's aquatic products exports reached US$8.
5 billion in the first nine months of 2022, an increase of 38%
year-on-year.

In the first nine months of this year, Vietnam's seafood exports to the EU exceeded US$1 billion, a year-on-year increase of 41%.

The United States remains Vietnam's largest market for aquatic products, with exports reaching nearly US$1.
8 billion, up 22%
year-on-year.
The Chinese market grew the fastest, reaching 76%, with exports reaching $1.
35 billion
.

Despite the difficulties, VASEP believes that Vietnam's aquatic exports will reach US$10 billion
by November 2022.

Not only aquatic products, Vietnam's coffee exports are expected to set a new record
in 2022.
According to statistics from the General Administration of Customs, in the first nine months of 2022, Vietnam's coffee exports were about 1.
34 million tons, a year-on-year increase of 13.
1%; The export value reached 3.
06 billion US dollars, a year-on-year increase of 37%.

According to expert forecasts, Vietnam's coffee exports are expected to hit a record in 2022, reaching $400 million
.

According to Vice Minister Von Duc Jin, despite the volatility of the international market, in the first nine months of this year, Vietnam's exports still reached US$40.
8 billion, a year-on-year increase of 15.
2%, and the trade surplus reached about US$6.
9 billion, double
the same period last year.

For export regions and markets, the Asian market accounted for 43.
7% of Vietnam's exports, while the United States accounted for 28.
3%; Europe accounted for 11.
6%.

The United States continues to be Vietnam's largest export market, with exports exceeding US$10.
5 billion, accounting for 25.
8%
of the market share.
The second largest market is China, with exports of about US$7.
4 billion, accounting for 18.
2%
of the market.

In the first nine months of 2022, Vietnam's rice exports reached about 5.
443 million tons, an increase of 19.
3% year-on-year, and the export value reached about US$2.
64 billion, an increase of 9.
3%
year-on-year.
Vietnam's rice exports are expected to exceed the target
in 2022.

According to the Vietnam Food Association, on October 16, 2022, the export price of 5% broken rice in Vietnam in the international market was 348 USD/ton, and the price of 25% broken rice was 418 USD/ton.

Both types of rice rose by $
10 per ton in just 10 days.

Van Tai Binh, manager of Vietnam's Zhong An High-tech Agriculture Joint Stock Company, said that the demand for rice imports in the Asian market increased by 15 percent and the European market by 10 percent
.
The main reasons are still the coronavirus pandemic and the Russia-Ukraine conflict, coupled with widespread drought around the world, which has caused food shortages and pushed up demand
for rice reserves in countries around the world.

According to the plan, Vietnam's rice exports in 2022 can reach 6.
3 million to 6.
5 million tons, an increase of 100,000 to 200,000 tons
from 2021.
With this trend, Vietnam's rice exports in 2022 are expected to meet or exceed the set planned targets
.
(End)

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