Not only have many key agricultural export products reached their destination early, at this time, there are businesses that have received about 60% of next year's orders.
Export turnover of many agricultural products increased
According to data from the Ministry of Agriculture and Rural Development, the value export of vegetables and fruits October 2024 is estimated to reach 700 million USD, bringing the total export value of fruits and vegetables in the first 10 months of 2024 to 6.34 billion USD, an increase of 31.5% over the same period in 2023 - exceeding the record of 5.7 billion USD for the whole year of 2023.
Notably, durian continued to be the largest contributor, bringing in more than 3 billion USD in 10 months, accounting for nearly 50% of total export turnover. Although the main crop ended in October, Vietnam still had off-season goods, helping forecast that durian export turnover this year could reach 3.5 billion USD.
Regarding pepper, according to the Vietnam Pepper and Spice Association, exports also reached the target early when planning to reach 1 billion USD in 2024, but in the first 10 months of 2024, the turnover pepper export reached 1.1 billion USD, up 48% in turnover over the same period last year.
Similarly, with coffee, in 10 months, the export turnover of this item brought in more than 4.6 billion USD, a value increase of nearly 40% compared to last year and far exceeding the figure of 4.25 billion USD for the whole year of 2023. With this momentum, coffee exports this year are forecast to reach 5.5 billion USD. This is a new record, the highest ever in terms of Vietnamese coffee export value.
Regarding rice, in the first 10 months of 2024, the total export volume of rice reached nearly 7.8 million tons with a turnover of 4.86 billion USD, an increase of 10.2% in volume and 23.4% in value over the same period in 2023. The average export price of rice in the first 10 months reached over 626 USD/ton, an increase of 12% over the same period last year.
Ministry of Agriculture and Rural Development information, May 10, 2024, agricultural - forestry - fishery export reached 51.74 billion USD, an increase of 20.2% over the same period in 2023, almost equal to the figure for the whole year of 2023. Many of our strong agricultural products such as coffee, cashew nuts, rice, vegetables and fruits achieved unprecedented growth.
Notably, in addition to the early acceleration of many key export industries with impressive breakthrough turnover, export enterprises have also received orders for the new year.
The representative of the Global Food Import-Export Company said that the company currently has about 60% of next year's orders. In the coming time, the company will continue to negotiate with major customers to provide processed fruit and vegetable products according to the needs of the EU, Japan, and US markets.
From the perspective of the Ministry of Industry and Trade, Mr. Tran Thanh Hai - Deputy Director of the Import-Export Department - said that the market is quite stable at this time, many types of goods have price advantages. For example, rice and coffee have increased recently and we have benefited from that.
Bright signal for the future
According to the Center for Industry and Trade Information (Ministry of Industry and Trade), in the last months of the year, fruit and vegetable exports will continue to be supported by increased demand from world markets at the end of the year, especially China, combined with the effects of trade agreements and protocols. In the whole year of 2024, export turnover is forecast to increase by 25% compared to 2023, to more than 7 billion USD, up 25% compared to 2023.
Mr. Do Ha Nam - Chairman of the Board of Directors, General Director of Intimex Group - commented that 2024 will continue to be the year when Vietnam has a large rice export volume of over 8 million tons, the value will also reach over 5 billion USD, the highest ever. Besides, rice export price The average price can also reach the highest level, over 600 USD/ton. This helps rice prices in the domestic market to remain high and quite stable.
Mr. Phung Duc Tien - Deputy Minister of Agriculture and Rural Development - assessed that, in addition to traditional markets, since the beginning of 2024, the agricultural sector has emphasized exploiting new markets with potential advantages, including the Halal food market for Muslims.
Most recently, the Vietnam - UAE Comprehensive Economic Partnership Agreement (CEPA) was signed, opening up opportunities to increase exports and increase the value of agricultural, forestry and fishery products to the United Arab Emirates (UAE) market. “The last two months of 2024 will be a time of drastic acceleration for industries with the latest goal of bringing agricultural, forestry and fishery export turnover to a record of about 60 billion USD” - Mr. Phung Duc Tien said.
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