Agriculture earns nearly 52 billion USD in exports in 10 months

Exports of rice, coffee, vegetables, etc. reached record turnover, along with the recovery of aquatic and forestry products, helping the agricultural sector earn nearly 52 billion USD after the first 10 months of 2024.

In the first 10 months of the year, we exported nearly 7.8 million tons of rice and the turnover reached 4.86 billion USD - Photo: P. QUYEN

On the afternoon of October 31, Deputy Minister of Agriculture and Rural Development Phung Duc Tien informed about the production and export situation in the first 10 months of 2024.

According to Mr. Tien, the export turnover of agricultural, forestry and fishery products in October continued to improve compared to September - estimated at 5.91 billion USD, up 24% over the same period last year.

In the first 10 months of this year, agricultural, forestry and fishery exports reached 51.74 billion USD, an increase of more than 20% over the same period in 2023. The surplus was 15.21 billion USD, an increase of 62% over the same period last year.

Mr. Tien said that contributing to this result, the export of some key agricultural products increased sharply compared to the same period last year, such as coffee exports reaching nearly 1.2 million tons and earning 4.6 billion USD, although down 11% in volume but up 40% in value compared to the same period in 2023.

The average export price of coffee in the first 10 months of 2024 is estimated at 3,981 USD/ton, up 57% over the same period in 2023. Germany, Italy and Spain are the 3 largest coffee consuming markets of Vietnam in the first 9 months of 2024.

Coffee exports grew in markets in the group of 15 largest export markets, in which the markets with the strongest increase in coffee export value were the Philippines and Malaysia.

Regarding rice, in the first 10 months of the year, we exported nearly 7.8 million tons and the turnover reached 4.86 billion USD, exceeding the rice export value of the whole year 2023 (4.68 billion USD).

The average export rice price in the first 10 months of 2024 is estimated at 626 USD/ton, an increase of 12% over the same period in 2023.

The Philippines is Vietnam's largest rice consumer market with a market share of 45%. Indonesia and Malaysia are the next two largest markets.

Similarly, fruit and vegetable exports after 10 months reached 6.34 billion USD, an increase of 31.5% over the same period in 2023 and also exceeded the fruit and vegetable export turnover for the whole year of 2023 (5.69 billion USD).

Along with that, exports of cashew nuts (3.6 billion USD, up 19%), pepper (1.12 billion USD, up 48%), seafood (8.33 billion USD, up 12%), and forestry products (13.18 billion USD, up 21%) all increased sharply compared to the same period last year.

Deputy Minister Phung Duc Tien said that agricultural, forestry and fishery exports this year could reach 62 billion USD - Photo: C.TUỆ

"The export target for the whole year of 2024 assigned by the Government is 54 to 55 billion USD, which is completely feasible to surpass. In November and December, if each month's export only reaches 5.5 billion USD, we will have an additional 11 billion USD. Together with the results of the first 10 months of the year, the export for the whole year of 2024 is likely to reach over 62 billion USD - this is the highest export result ever," said Mr. Tien.

According to Mr. Tien, although Vietnam faced many difficulties last year in the context of many conflicts in the world, input material prices, logistics, but the above results were achieved thanks to the foundation of many years of restructuring, market system and some new agricultural export protocols signed with China, so we believe this year will reach the highest number.

Source: https://tuoitre.vn/nong-nghiep-thu-ve-gan-52-ti-usd-hang-xuat-khau-trong-10-thang-20241031172946454.htm