China is the second largest market for Vietnamese agricultural, forestry and fishery products.
Latest information from the General Department of Customs, in the first half of 2024, Vietnam's goods exports to China reached 27.8 billion USD, an increase of 5.3% over the same period.
According to the report of the Ministry of Agriculture and Rural Development, the total export turnover of agricultural, forestry and fishery products in the first 6 months of the year reached 29.2 billion USD, an increase of 19% over the same period in 2023. In the picture of agricultural, forestry and fishery exports in the first 6 months of 2024, China accounted for 20.2%, an increase of 9.5% over the same period last year... ranking 2nd in terms of export market.
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| In the agricultural products group, there are many items that China imports over 20 billion USD annually such as: fruits, seafood, grains (rice)... |
Fruits and vegetables are one of the most exported products of Vietnam to this market. This is the main durian harvest season. At Kim Thanh International Road Border Gate No. 2 (Lao Cai), at this time, there are an average of 200 fruit trucks exported to China every day, half of which are durian trucks. Currently, Ri6 durian is purchased by traders and exported to China at the highest price of 60,000 VND/kg, Monthong durian is priced at 92,000 VND/kg, meaning each exported truck is worth from 1.1 billion VND to 1.5 billion VND.
Since the beginning of 2024, the total value of imported and exported goods through Lao Cai border gate has reached over 1.1 billion USD. Of which, the majority is durian exports with over 100 thousand tons, export turnover reaching about 540 million USD, double that of the same period last year.
Mr. Nguyen Dinh Tung - General Director of Vina T&T Group - said that the demand for fruits and vegetables in the markets is currently very large. If Vietnamese products can penetrate and ensure stable quality, they will have a foothold. Typically, for durian products exported to China, the company's orders have increased dramatically, with an expected export of 2,500 tons of fresh durian this year.
Mr. Nong Duc Lai - Vietnam's Trade Counselor in China - said that according to data released by China Customs, import-export trade between Vietnam and China in the first 5 months of the year grew by over 20%. Notably, Vietnam's exports to the Chinese market not only had high growth, but also had balanced growth among industries and products.
Of which, agricultural products are the products that China has the highest demand for. Every year, this country spends 230 billion USD to import agricultural products, in the first 5 months of this year alone, it imported nearly 100 billion USD. In the group of agricultural products, there are many products that China imports over 20 billion USD annually such as fruits, seafood, cereals (rice)... These are products that Vietnam has strengths in. Enterprises must take advantage of and exploit this potential market to the fullest.
“Processed products and foods are a very potential industry in China and will create many opportunities for Vietnamese businesses to exploit. Specifically, for seafood products today, businesses should not only export fresh products but also invest in producing processed products to bring to this market,” Mr. Nong Duc Lai suggested.
Notes for Vietnamese businesses
Mr. Nong Duc Lai commented that from now until the end of the year, exports of agricultural and forestry products are expected to grow strongly. In the last 6 months of the year, China has many long holidays, currently it is the summer vacation of students, followed by the Mid-Autumn Festival... During the holidays, the demand for agricultural products increases very high, Vietnamese enterprises should take advantage of this opportunity and time to boost exports. Registering codes for growing areas and packaging facilities creates conditions for Vietnam to export to this market.
Besides the advantages, according to Mr. Nong Duc Lai, as the country that exports the most agricultural and aquatic products to the Chinese market, Vietnam is also the country that receives the most warnings, especially regarding agricultural and food products, so businesses also need to pay attention to this issue.
In addition, the market is very large and each province and locality is a separate market. China has a diverse culinary culture, each locality will have different consumer needs and need different products. Therefore, trade promotion of localities and businesses also need to pay attention to this issue. Before promoting trade, businesses and localities should provide specific information for the business to research which market is suitable.
Mr. Nong Duc Lai also recommended that the Ministry of Industry and Trade strengthen relations with Chinese localities to exploit each market and each specific product. Currently, trade promotion and support for Vietnamese enterprises should focus on exploiting large markets such as the west, central and northeast of China.
“In Guangdong province, this market has a huge demand for seafood products while Shandong province needs rubber the most. Businesses must learn to exploit effectively,” Mr. Nong Duc Lai cited.
According to Mr. To Ngoc Son - Deputy Director of the Asia - Africa Market Department (Ministry of Industry and Trade), although businesses have tried very hard in the past, quality is still facing many difficulties, especially for agricultural products. Therefore, it is necessary to ensure the quality of exported agricultural products, because the world is now flat. When a problem arises in one market, other markets will simultaneously apply similar policies.
In addition to trade promotion, Mr. To Ngoc Son also suggested that trade offices should promote research and market information to produce reports assessing the market situation, forecasting impacts and forecasting trends. This will be very useful information for the Market Departments to assess, analyze the situation and propose countermeasures in the context of strategically competing economies that are greatly affecting global trade trends. This will have a reciprocal impact on choosing product lines and choosing the next steps of the economy in the coming time.
"All countries are looking for ways to bring goods into the Chinese market, while Vietnam is right next door and we are not exploiting this market effectively, it is partly our fault," Deputy Minister of Industry and Trade Nguyen Hoang Long emphasized and requested the agencies of the Ministry of Industry and Trade to study and implement recommendations and information shared from the Chinese market.
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