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| In recent years, Ho Chi Minh City has continuously held the position of "champion" in export nationwide. (Source: Saigon Business Times) |
Ho Chi Minh City continues to hold the "champion" position in exports.
Recently, at the conference to summarize the implementation of the public investment plan in 2023 and deploy the implementation in 2024 of Ho Chi Minh City, on January 12, 2024, Director of the Department of Planning and Investment of Ho Chi Minh City Le Thi Huynh Mai said that the City set a requirement to increase the GRDP growth rate to 7.5 - 8% (equivalent to an increase of 1.2 - 1.3 times compared to 2023).
In terms of FDI attraction, by the end of 2023, Ho Chi Minh City will lead the country with a total registered capital of 5.85 billion USD, an increase of nearly 50% compared to 2022 and accounting for about 16% of the capital of 63 localities nationwide (36.6 billion USD), and is a bright spot in the city's investment environment.
Regarding trade and import and export, the Department of Industry and Trade of Ho Chi Minh City also said that 2024 is a breakthrough year to strive to promote the development of industrial production and trade, boost import and export activities towards completing the goals in the 5-year socio-economic development plan for the period 2021 - 2025. Therefore, the city sets a target of an industrial production index increase of 6.5% compared to 2023; the export turnover of Ho Chi Minh City enterprises through the city's border gates increases by 10%.
It is known that in recent years, Ho Chi Minh City has continuously held the position of "champion" in export nationwide. Accordingly, in 2022, Ho Chi Minh City achieved the highest export turnover of 47.5 billion USD in the country. Bac Ninh ranked 2nd with 45 billion USD; Binh Duong, Thai Nguyen and Hai Phong ranked 3rd, 4th, 5th respectively with export turnover of 34.3 billion USD, 29.8 billion USD and 24.9 billion USD.
In 2021, Ho Chi Minh City's export turnover reached 44.902 billion USD and led the country. The remaining localities in the "Top 5" include Bac Ninh, Binh Duong, Thai Nguyen and Hai Phong. In 2020, Ho Chi Minh City achieved an export turnover of 44.4 billion USD, leading the country; the above 4 localities are in the "Top 5" with Ho Chi Minh City.
Recently, at the seminar "Ho Chi Minh City Macroeconomics: Results 2023 and Forecast 2024" (Ho Chi Minh City Macroeconomic Report), jointly organized by Ho Chi Minh City University of Economics and Ho Chi Minh City Statistics Office, many experts recommended that Ho Chi Minh City should absolutely not rush to pursue the growth target in 2024 at all costs, slowing down the process of economic model transformation in the medium term.
At the seminar, experts also noted that the Ho Chi Minh City government needs to pay more attention to supporting and encouraging Ho Chi Minh City businesses to seek partners and expand export markets to countries other than China and the US. Diversifying export markets will help Ho Chi Minh City's exports reduce cyclicality and grow more stably.
It is known that in addition to the two largest export markets of Ho Chi Minh City, the US (reaching 97 billion USD, down 12.4 billion USD compared to 2022) and China (reaching 61.2 billion USD, up 6.4% compared to 2022), Japan, South Korea and India are 3 potential markets for Ho Chi Minh City's exports. However, the export turnover to the above 3 markets is still modest, with the proportions of Japan at 7.16%, South Korea at 4.31% and India at 1.41%, respectively.
In 2023, Vietnam will spend nearly 2.87 billion USD to import this type of grain.
According to preliminary statistics of the General Department of Customs, corn imports of all kinds in 2023 reached over 9.71 million tons, worth nearly 2.87 billion USD, with an average price of 295.2 USD/ton, up 1.1% in volume, but down 14.1% in turnover and down 15.1% in price compared to 2022.
Of which, in December 2023 alone, it reached 1.35 million tons, equivalent to 347.08 million USD, with an average price of 256.7 USD/ton, an increase of 113.6% in volume and 109.9% in value compared to November 2023, but the price decreased by 1.8%; compared to December 2022, it also increased by 16.8% in volume, but decreased by 10% in value and decreased by 23% in price.
Brazil is the largest market supplying corn to Vietnam in 2023, accounting for 43.6% of the total volume and 42.8% of the total corn import turnover of the country, reaching 4.23 million tons, equivalent to over 1.23 billion USD, priced at 290 USD/ton, a sharp increase of 194.9% in volume, 157.8% in turnover but a decrease of 12.6% in price compared to 2022.
The second largest market is Argentina, in 2023 reaching 3.23 million tons, equivalent to 957.93 million USD, price 296.6 USD/ton, accounting for over 33% of the total volume and total import turnover of corn of the whole country, down sharply 43% in volume, down 51.9% in turnover and price down 15.5% compared to 2022.
Next, the Indian market in 2023 reached 1.18 million tons, equivalent to 367.39 million USD, price 310.8 USD/ton, accounting for over 12% of the total volume and total import turnover of corn of the whole country, increased sharply by 35.5% in volume, increased by 27.9% in turnover, but the price decreased by 5.6% compared to the same period last year.
Revealing a new rival to Vietnamese durian
According to the Agricultural, Forestry and Fisheries Market Report of the Import-Export Department (Ministry of Industry and Trade), citing Producereport.com, the Deputy Minister of Agriculture and Food Security of Malaysia said that the export of fresh durian to China will begin in 2024.
The start of exports will coincide with the 50th anniversary of diplomatic relations between China and Malaysia, scheduled to be held on May 31, 2024.
The statement came after China's General Administration of Customs and Malaysia's Ministry of Agriculture and Food Security signed a six-point agreement on exporting fresh durians to China by October 2023.
The Chinese side has expressed its willingness to speed up the risk assessment of this fruit, and both sides have agreed to cooperate to promote the quarantine inspection process.
Accordingly, only fully ripe durians are exported to China to ensure the best taste for Chinese consumers. However, this may pose certain challenges in transportation due to the shorter shelf life of ripe durians.
Durian industry members and the Malaysian Agricultural Research and Development Institute are currently evaluating various modes of transport, including air and sea freight. It is estimated that durians can reach China within 48 hours of being harvested at the farm if transported by air.
Notably, considering the presence of fresh Thai and Vietnamese durians in the Chinese market, Malaysian experts also proposed creating a Malaysian durian logo to distinguish the country's Musang King durian from fruits originating from elsewhere.
In 2023, Malaysia produced 455,458 tonnes of durian, 10% of which was shipped frozen to China, Hong Kong (China) and Singapore markets. Malaysia has been exporting frozen durian products to China since 2011 and frozen whole durian since May 2019.
Will Malaysia's export of fresh durian to the Chinese market have an impact on the Vietnamese durian industry, as this market is Vietnam's main export destination in 2023?
Mr. Dang Phuc Nguyen - General Secretary of the Vietnam Fruit and Vegetable Association - said that in 2023, durian export turnover to the Chinese market reached more than 2 billion USD. The signing of the Protocol has helped Vietnam's durian become a billion-dollar industry and achieve record growth.
“We have only exported fresh durian to the Chinese market for more than a year, but the export turnover is almost half that of Thailand, while Thailand exports both fresh and frozen durian. Therefore, there is still a lot of room for Vietnamese durian in the Chinese market,” said Mr. Dang Phuc Nguyen, while expecting that China will allow more imports of frozen durian from Vietnam.
Thailand used to be the sole supplier of durian to the Chinese market, but Thailand's durian market share dropped to 95% in 2022, as China imported durian from Vietnam with a market share of 5%. As of October 2023, Thailand's durian market share dropped to 70% and Vietnam's durian market share increased to 30%. And it is possible that fresh Malaysian durian will continue to divide the "pie" of the above market share.
Which country will buy the most rice from Vietnam in 2023?
According to statistics from the General Department of Customs, Vietnam's rice exports in December 2023 reached 492,387 tons of rice, earning more than 338 million USD, down 18% in volume and 15% in price compared to November.
Accumulated for the whole year of 2023, rice exports earned nearly 4.68 billion USD with nearly 8.13 million tons, up 14.4% in volume and a sharp increase of 35% in value compared to the whole year of 2022. This is a record high number in more than 30 years of Vietnam participating in rice exports.
The average export price for the whole year reached 575 USD/ton, an increase of 18% compared to 2022. December was the month with the highest export price ever, compared to the beginning of 2023, the export price increased by 32%.
In terms of market, the Philippines is still the largest market for Vietnamese rice with more than 3.1 million tons in 2023, earning more than 1.7 billion USD, down 2.46% in volume but up 18% in value compared to 2022. The average export price reached 559 USD/ton, down 2.5% over the same period.
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| In terms of market, the Philippines is still the largest market for Vietnamese rice with more than 3.1 million tons in 2023. (Source: Industry and Trade Newspaper) |
Notably, Indonesia has surpassed China to become the second largest customer of Vietnamese rice. In 2023, rice exports to this market earned more than 640 million USD with more than 1.17 million tons, a sharp increase of 878% in volume and 992% in value compared to the same period in 2022.
For China, Vietnam exported 917,255 tons to this market and earned more than 530 million USD, up 8% in volume and 23% in value over the same period last year. In 2022, China was the second largest customer of Vietnamese rice with a proportion of 12% in both volume and turnover.
2023 is a year of many fluctuations for rice after India announced a ban on the export of this important commodity. Countries have "flocked" to Vietnam and Thailand to find alternative supplies for the world's largest rice exporter, accounting for nearly a third of the global turnover.
Looking back at the whole year of 2023, at many times, Vietnam's 5% broken rice price continuously maintained at 663 USD/ton, while at the same time, the price of the same quality rice from Thailand was only 558 USD/ton, 105 USD/ton lower than Vietnamese rice.
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