Rice, coffee, vegetables hit new records

In the first 10 months of this year, the export turnover of the entire agricultural, forestry and fishery sector is estimated to reach 51.74 billion USD, of which rice, coffee, vegetables and fruits set a historical peak.

Rice exports in 10 months exceed the whole year of 2023

According to data from the Ministry of Agriculture and Rural Development, the export turnover of agriculture, forestry and fishery products in October 2024 is estimated to reach more than 5.9 billion USD. In the first 10 months of the year, the total export turnover of the agriculture, forestry and fishery sector exceeded 51.7 billion USD, up 20.2% over the same period in 2023. Of which, the export value of agricultural products reached 27.38 billion USD, up 25.6%.

Rice exports in the first 10 months of this year reached 4.86 billion USD, exceeding the whole of 2023. Photo: MH

In the bright picture of the agricultural, forestry and fishery industry, rice is the name of the product. Accordingly, rice export turnover in the first 10 months of this year reached 4.86 billion USD, surpassing the figure of 4.67 billion USD for the whole year of 2023. Compared to the same period last year, the export value of this item increased by 23.4%.

In addition, the average export price of rice in the first 10 months of 2024 is estimated to reach more than 626 USD/ton, an increase of 12% over the same period in 2023. This is also a record high average price compared to previous years.

According to the Ministry of Agriculture and Rural Development, by the end of September 2024, exports to the traditional market of the Philippines increased sharply by 53.3%, the Indonesian market increased by 35.1% and the Malaysian market increased by 2.3 times compared to the same period last year.

Mr. Phung Duc Tien - Deputy Minister of Agriculture and Rural Development - assessed that last year our country exported more than 8 million tons. This year, after only 10 months, the amount of exported rice has reached 7.8 million tons. If the last two months of the year are included, rice exports will certainly exceed the figure of 2023.

According to Mr. Phung Duc Tien, recently, India lifted the ban on rice exports and reduced export taxes, so the price of 5% broken rice from Vietnam was affected. However, the fragrant rice and high-quality rice segment of our country sold at high and very stable prices. This is a good thing.

With the results achieved in 10 months, the Ministry of Agriculture assessed that rice exports reached the target of exceeding 5 billion USD.

Fruit and vegetable exports confident of surpassing 7 billion USD target

For fruits and vegetables, export turnover also set a historical record when earning 6.34 billion USD in just 10 months, a sharp increase of 31.5% compared to the same period in 2023. Contributing to this record figure was the booming export of durian, earning about more than 3 billion USD in 10 months of this year. In addition, exports to the Chinese market also increased sharply by 37.8% compared to the same period in 2023, reaching 3.8 billion USD in 9 months.

Durian exports have boomed, earning more than 3 billion USD in the first 10 months of this year. Photo: VITV

In general, all markets grew by double digits, with the highest growth in exports to Thailand, South Korea, Germany and Canada. Recently, the Protocol on licensing the export of frozen durian and fresh coconut from Vietnam to the Chinese market has become a new factor promoting the export of Vietnamese fruits and vegetables.

At the first Vietnam Fruit Festival held in Beijing (China) at the end of September 2024, many Vietnamese businesses shared that they had signed export contracts of 30-50 containers, with some even reaching an agreement to supply 1,500 containers to Chinese partners. This is a positive signal for the future of the Vietnamese coconut industry in the market of 1.4 billion people.

According to Mr. Dang Phuc Nguyen - General Secretary of the Fruit and Vegetable Association, Vietnam will continue to supply off-season durian in November and December, ensuring supply when other countries do not have goods. This creates an advantage for Vietnam, helping to increase durian prices.

In addition, other fruits also benefit from the winter, when many countries face difficulties in harvesting, while Vietnam still maintains favorable conditions for growing fruits and vegetables. In particular, the advantage of road, sea and rail connections with China helps save costs and transportation time, creating great opportunities for Vietnamese businesses.

This year, durian exports are forecast to increase by 45% compared to last year. Similarly, fresh coconut exports may increase by one and a half times compared to last year. According to calculations by the agricultural sector, fruit and vegetable exports this year may exceed the 7 billion USD mark, up nearly 20% compared to last year.

Coffee exports set new record

Regarding coffee, in the first 10 months of 2024, exports reached 1.2 million tons, earning 4.6 billion USD. Although the volume of exported coffee decreased by 10.8% compared to the same period last year, the value increased by more than 40%.

In the first 10 months of 2024, coffee exports will reach 1.2 million tons, earning 4.6 billion USD.

The reason is that the average export price of coffee in the past 10 months is estimated at 3,981 USD/ton, up 57% over the same period last year. Meanwhile, the main export markets have increased their purchases of this type of bean from our country. In particular, exports to the Philippines and Malaysia have increased by 2.2 times compared to 2023. Thanks to that, the export turnover of this item set a historical record even though there are still two months left until the end of the year.

According to Mr. Do Ha Nam - Vice President of the Vietnam Coffee - Cocoa Association, 2024 will be very special for this industry. For the first time, Vietnamese coffee prices will be the most expensive in the world; the export price of Robusta coffee (the type of coffee that Vietnam produces the largest in the world) will be higher than the price of Arabica coffee.

Businesses and experts also believe that 2024 is a "miracle year" for the Vietnamese coffee industry. Prices are so high that people "can't even dream of seeing it". Not only has a series of records been set for prices and export turnover, Vietnamese coffee is increasingly showing its important role in world market demand.

According to calculations by the agricultural sector, coffee exports this year will reach the target of exceeding 5 billion USD.

Mr. Phung Duc Tien - Deputy Minister of Agriculture and Rural Development - emphasized:

Vietnam currently ranks 2nd in Southeast Asia and 15th in the world in agricultural exports. Vietnam's agricultural exports are reaching an all-time high. This year, we will reach the highest level in agricultural export turnover.

In October, the total export turnover of the agricultural sector reached 5.91 billion USD. In the last two months of the year, if exports only reach 5.5 billion USD/month, the agricultural sector will reach the target of 62 billion USD.

This success comes from the foundation of restructuring the agricultural sector over the past decades, building a stable and open market system. Along with that, the Protocols signed with China have opened the door for products such as coconut, frozen durian and crocodile from Vietnam to enter the Chinese market.

Recently, during his visit to the UAE, Prime Minister Pham Minh Chinh witnessed the signing of the Comprehensive Economic Partnership Agreement, Vietnam’s first free trade agreement with an Arab country. Strengthening cooperation with the Middle East region also helps Vietnam penetrate deeper into the Halal market, where there is a large demand for products and the high-end market segment.

With these advances, Vietnam’s agricultural sector is increasingly confident in conquering demanding and potential markets on a larger scale. In the context of the world’s complex political, social and environmental developments, Vietnamese agricultural products are still reaching nearly 200 countries, contributing to ensuring food and nutrition security for many regions.

Source: https://congthuong.vn/xuat-khau-nong-san-gao-ca-phe-rau-qua-don-ky-luc-moi-356105.html