Staple products bring in billions of dollars each year, seafood receives good news

The main product that brings in billions of USD is the world's leading exporter; seafood exports receive good news at the beginning of the year... are the highlights in the weekly news from 19-26.

The staple product brings in billions of USD each year, making it the world's leading exporter. According to preliminary statistics from the General Department of Customs, Vietnam's cashew nut exports in January 2024 reached 65,142 tons, equivalent to 351.2 million USD, up slightly by 3.3% in volume and 2.3% in value compared to the previous month. However, compared to the same period last year, our country's exports increased dramatically by 139.4% in volume and 126% in value. This is also the strongest growth rate among all agricultural products.

Vietnam's cashew nut exports in January 2024 reached 65,142 tons, equivalent to 351.2 million USD, a slight increase of 3.3% in volume.

Cashew nut export price in January 2024 reached 5,391 USD/ton, down slightly by 5.6% over the same period last year.

In terms of markets, the US is still Vietnam's largest export market in January 2024, reaching more than 15.6 thousand tons, worth 81.7 million USD, a sharp increase of 116.5% in volume and 98% in value compared to 2023. Following are China and the Netherlands. Notably, China is still the most active import market in recent months. Specifically, in January 2024, cashew nut exports to China reached 13,789, equivalent to 78.3 million USD, a sharp increase of 698% in volume and 662% in value compared to the same period last year. The export price to this market in January reached 5,681 USD/ton, down 4.47% over the same period. The above price is 290 USD/ton higher than the price of the whole market. Vietnam has maintained its position as the world's number 1 exporter of cashew nuts for 16 consecutive years, accounting for nearly 80% of total global output.

Seafood exports receive good news at the beginning of the year

Seafood exports in January reached nearly 750 million USD, up 64% over the same period last year, with China, the US, Japan, and the EU all increasing sharply.

The above figures have just been announced by the Vietnam Association of Seafood Exporters and Producers (VASEP). This growth rate shows an optimistic signal for seafood exports in the first quarter of this year.

Seafood exports in January reached nearly 750 million USD, up 64% over the same period last year.

In terms of markets, the biggest increase was in China and Hong Kong (China), which increased more than 3 times, becoming the second largest seafood import market of Vietnam, after Japan. Particularly for shrimp and pangasius, China was the largest market in the first month of 2024, when exports to this market increased nearly 4 times compared to January 2023. January this year is also the time when Chinese importers increased purchases to serve the Lunar New Year. Other markets also had good growth, in which exports to the US increased by 63%, to Japan increased by 43%, to the EU increased by 34%... Major markets such as China, the US, Japan, and the EU all increased sharply. Of which, seafood exports to China increased by 3 times, to the remaining markets by 34-63%. The shrimp, pangasius, tuna, squid and other seafood industries also increased by 45-100% compared to the same period in 2023. Exports were positive in the first month of the year, according to businesses, thanks to increased purchasing power in traditional markets, such as China, during the Lunar New Year.

Rice exports in January 2024 grew strongly

According to preliminary statistics of the General Department of Customs, in January 2024, the country exported 512,265 tons of rice, equivalent to 362.26 million USD, with an average price of 707.2 USD/ton, up 4% in volume, 7% in value and 2.8% in price compared to December 2023; and compared to January 2023, it increased sharply by 42.6% in volume, 94.1% in value and 36.2% in price.

In January 2024, the whole country exported 512,265 tons of rice.

The Philippines is still the leading consumer of Vietnamese rice, accounting for 53.6% of the total volume and 39% of the total rice export turnover of the country, reaching nearly 280,944 tons, equivalent to nearly 194.28 million USD, with an average price of 691.5 USD/ton, up 7.8% in volume, up 8.1% in turnover and slightly up 0.3% in price compared to December 2023; compared to January 2023, it increased sharply by 117.2% in volume, up 201% in turnover and up 38.5% in price. Next is the French market, accounting for over 5% of the total volume and total turnover, reaching 17,919 tons, equivalent to 18.64 million USD, with an average price of 1,040.2 USD/ton, a sharp increase of 16,339% in volume and 18,356% in turnover compared to December 2023; while in January 2023, no rice was exported to this market. The Indonesian market ranked third, reaching 27,256 tons, equivalent to 18.08 million USD, with a price of 663.3 USD/ton, down 35.8% in volume and 29.3% in turnover but up 10% in price compared to December 2023; down 68.3% in volume, down 55.8% in turnover and up 39.2% in price compared to January 2023, accounting for nearly 5% of the total volume and 3.2% of the total rice export turnover of the whole country. Exports to RCEP FTA markets reached 351,286 tons, equivalent to 240.54 million USD, up 24.4% in volume, up 66.2% in turnover over the same period last year. Exports to CPTPP FTA markets reached 36,278 tons, equivalent to 24.32 million USD, up 84.4% in volume, up 123.8% in turnover. Exports to Southeast Asian markets reached 341,006 tons, equivalent to 234.08 million USD, up 46.4% in volume, up 103.7% in turnover.

Cassava exports grow by nearly 370% According to preliminary statistics from the General Department of Customs, in the first month of 2024, cassava exports witnessed record growth. Specifically, in January, cassava exports reached 76,118 tons with a value of more than 19.9 million USD, up 369.6% in volume and 340.8% compared to December 2023. At the same time, there was a sharp increase of 30.9% in volume and 36.4% compared to the same period in 2023.

Cassava is the item with the strongest growth in the first month of 2024.

Thus, cassava is the item with the strongest growth in the first month of 2024. The average export price reached 262 USD/ton, down 15 USD/ton compared to the previous month. In general, the group of cassava and cassava products earned more than 195 million USD, up 38.1% compared to the previous month. China continues to maintain its position as the largest importer of cassava from Vietnam. In January 2024, our country exported 401,945 tons of cassava to China and earned more than 183 million USD, up 48% in volume and 38% in value compared to the previous month. China's market share also increased from 91% in 2023 to 94% in the first month of 2024. The average export price reached 457 USD/ton, down 6% compared to the previous month. In addition to the Chinese market, Vietnam also exports this item to other countries such as Korea, Malaysia, Japan, Pakistan, etc. Source