Name 5 agricultural, forestry and fishery products exported with billions of USD in the first quarter of 2024

Wood and forestry product exports earn 3.61 billion USD

According to the Ministry of Agriculture and Rural Development , by the end of the first quarter of 2024, wood and forestry product exports will earn 3.61 billion USD. Currently, the United States, China, Japan, South Korea, the EU, Canada, and the United Kingdom are the main export markets for Vietnamese wood and forestry products.

Wood and forestry product exports earn 3.61 billion USD

In 2024, the Forestry sector strives for the export value of wood and forest products to reach 15.2 billion USD, of which wood and wood products will be over 14.2 billion USD, an increase of about 6% compared to 2023.

Mr. Do Xuan Lap - Chairman of the Vietnam Timber and Forest Products Association - shared that with the US market showing signs of recovery with forecast indicators of real GDP increasing by 2.2% in 2024, a survey at a number of wood and furniture fairs in early 2024 in the US showed that many customers came to visit and learn.

The Korean market is forecast to grow by 1.4% in 2024. In terms of energy, many Korean companies are actively participating in furniture fairs in Southeast Asia (Indonesia, Malaysia, Vietnam, etc.) to find partners and manufacturers. This may be a sign of recovery in exports to this market.

EU market, according to Statista, in 2024 the furniture market in Europe will have a revenue of about 236.8 billion USD, with a compound growth rate of 3.28% (CAGR 2024-2028), the living room furniture segment is estimated to reach 62.73 billion USD in 2024, dominating this market.

With the above prospects in key export markets, the wood industry business community will strive to overcome difficult challenges, strive to contribute to the good implementation of the plan set by the Ministry, achieving wood and forestry product export turnover of 14.1 billion USD in 2024.

Coffee exports earn 1.9 billion USD

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, up 54% over the same period last year. This is a historical record compared to the same period in previous years.

In the first quarter of 2024, coffee exports will earn 1.9 billion USD

Along with the increase in export coffee prices, the price of green coffee beans in the domestic market is about to reach 100,000 VND/kg. Meanwhile, coffee roasters around the world are flocking to Vietnam to find Robusta sources.

According to data released by the Ministry of Agriculture and Rural Development, the average export price of coffee in the first quarter of 2024 reached 2,373 USD/ton, up 6.8%. However, according to Mr. Nguyen Nam Hai - Chairman of the Vietnam Coffee - Cocoa Association (VICOFA), since the beginning of the year, the average export price of coffee has been very high, up to 3,200 USD/ton.

According to Mr. Nguyen Nam Hai, since the beginning of the year, coffee prices have been increasing continuously, at the highest point of 102,000 VND/kg. Besides the advantage of farmers selling at high prices, there are also some problems such as the phenomenon of broken supply chains. From farmers not selling to exporters but selling to agents and traders, leading to broken supply chains. High coffee prices have also caused many businesses to face difficulties, even losses, and failure to deliver on time. Many people are worried that too high coffee prices will force foreign roasters to look for new sources of supply.

Some opinions say that 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 the current market developments, Vietnam's coffee exports in 2024 will certainly reach 5 billion USD. The issue of concern now is how to find a solution for the coffee industry to develop sustainably, not letting the 5 billion USD figure be just a historical milestone.

Seafood exports earn 1.86 billion USD

According to the Ministry of Agriculture and Rural Development, seafood exports earned 1.86 billion USD in the first quarter of 2024. This figure is also quite consistent with the data announced by the Vietnam Association of Seafood Exporters and Producers (VASEAP) that by the end of the first quarter of 2024, seafood exports were estimated to reach nearly 2 billion USD, 8% higher than the same period last year.

In the first quarter of 2024, seafood exports recorded many positive signals.

The United States, Japan, China and Hong Kong (China) are the top 3 largest import markets for Vietnamese seafood in the first quarter of 2024. Of which, exports to the United States market broke through much stronger, with a growth rate of 16% reaching 330 million USD; exports to Japan were equivalent to the same period; while exports to China and Hong Kong (China) increased by 15%.

In 2024, the fisheries sector has set a target of 1.3 million hectares of aquaculture area. Total aquatic product output is more than 9.27 million tons, of which exploited output is more than 3.5 million tons, aquaculture output is more than 5.6 million tons (up 5% compared to the estimate in 2023). Aquatic product export turnover is estimated at 9.5 billion USD.

According to VASEP, in the first quarter of 2024, the average export price of seafood products will generally increase compared to the end of 2023, but will still be low. VASEP expects that after the International Seafood Fairs in the US, EU, and Japan, orders for businesses will improve and export prices will gradually improve.

"There may be new opportunities for Vietnamese seafood when Ecuadorian and Indian shrimp are being warned about antibiotics and labor issues. However, the problems that the Indian shrimp industry is facing such as labor, environment, and antibiotics are also lessons for Vietnamese businesses to be cautious and strictly comply with the regulations of the import market, as well as domestic regulations to avoid barriers and protectionist moves of the market," VASEP representative recommended.

Rice export grossed $1.37 billion

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/ton, up 5% over the same period last year.

Average rice export price reached 661 USD/ton, up 5% over the same period last year.

Although the world situation will still face many difficulties, rice exports have shown positive signs since the first months of 2024. Vietnam's rice exports are expected to continue to flourish, aiming for a turnover of 5 billion USD.

Recently, the Indonesian National Logistics Agency (Bulog) has just signed a contract for 300,000 tons of rice with suppliers. In order, Thai enterprises won the bid with the largest output of 117,000 tons, followed by Vietnam with 108,000 tons, and the rest from Pakistan and Myanmar.

However, experts say that this is also the year when the world rice market is expected to have many fluctuations in terms of output, demand and related policies from leading rice exporting countries. Therefore, innovation in production and flexible management of rice exports will be important conditions for the Vietnamese rice industry to achieve expected growth.

Fruit and vegetable exports earn 1.23 billion USD

According to the Ministry of Agriculture and Rural Development, fruit and vegetable exports earned 1.23 billion USD. This is the first time Vietnam's fruit and vegetable exports have reached and exceeded 1 billion USD in the first quarter of the year. This shows that the fruit and vegetable industry has many growth prospects in the near future. Important consumption markets are still China, Korea, the US, Thailand, Japan, etc.

The important consumption markets for Vietnamese fruits and vegetables are still China, Korea, the US, Thailand, Japan, etc.

According to the Vietnam Fruit and Vegetable Association, the country's fruit and vegetable export industry made a breakthrough in the first quarter of 2024 thanks to the great contribution of off-season durian, as countries around the world, especially Thailand, have increased purchases of this fruit recently.

To speed up the process of signing the Protocol on official exports to China, the Plant Protection Department recently requested localities to review growing areas and packaging facilities for fresh coconuts and frozen durians.

Units shall inspect, evaluate the field and compile a list of growing areas, fresh coconut packaging facilities (green coconuts, peeled coconuts) and frozen durian packaging facilities (durian with shell, pureed durian and durian pulp without shell) with sufficient documents, machinery and equipment meeting the requirements of plant quarantine and food safety of the importing country; then send the results of the list to the Plant Protection Department before April 1, 2024.

In 2024, fruit and vegetable exports are expected to continue to boom if fresh coconuts and frozen durians are officially licensed for export to China. Mr. Dang Phuc Nguyen - General Secretary of the Vietnam Fruit and Vegetable Association - said that if frozen durians from Vietnam are licensed, the export turnover of durians will increase by 30% of the total export value of this item each year. Fresh coconuts are expected to bring in 500 - 600 million USD from the billion-people market.

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 total export turnover.

Mr. Nguyen Dinh Tung - General Director of Vina T&T Group Import-Export Company - commented that the market picture in 2024 is very bright for the agricultural industry, as well as Vietnamese fruits and vegetables, because many types of fruits are opened to many new markets. Therefore, the export turnover of fruits and vegetables is forecast to grow by 15 - 20% compared to 2023, equivalent to 6.5 - 7 billion USD if the opportunity is well utilized.

“The market opportunities are huge, but we must be extremely careful about food safety and hygiene. When entering any market, we must understand the rules of the game and the technical barriers of the importing country’s market. Strengthen marketing activities and build the image of Vietnamese fruits and vegetables in export markets.

The world fruit and vegetable market is huge for Vietnam to exploit. In the total fruit and vegetable export turnover of the world, Vietnam's fruit and vegetable export turnover only accounts for about 2 - 3%," Mr. Nguyen Dinh Tung shared.

Source: https://congthuong.vn/diem-ten-5-mat-hang-nong-lam-thuy-san-xuat-khau-ty-usd-trong-quy-i2024-311928.html