The Ministry of Agriculture and Environment said it is considering reducing taxes on some US agricultural products exported to Vietnam to harmonize two-way goods.

Deputy Minister of Agriculture and Environment Phung Duc Tien said so when informing the press about the production and export of agricultural, forestry and fishery products on April 1.

US, Japan increase imports of Vietnamese agricultural products

According to Mr. Tien, the export turnover of agricultural, forestry and fishery products in March is estimated at 6.14 billion USD, bringing the total export turnover of agricultural, forestry and fishery products in the first 3 months of 2025 to 15.7 billion USD, an increase of 13% over the same period in 2024.

Although rice and vegetable exports decreased, the export value of agricultural products still reached 8.5 billion USD (up 12%), for livestock products it reached 131 million USD (up 18%), aquatic products reached 2.3 billion USD (up 18%), forestry products reached 4.2 billion USD (up 11%)...

According to Mr. Tien, compared to the same period last year, the estimated export value of Vietnam's agricultural, forestry and fishery products in the first 3 months of 2025 to Asia increased by 2%, America increased by nearly 16%, Europe increased by 38%, Africa increased by 2 times and Oceania increased by nearly 1%.

It is estimated that the value of Vietnam's agricultural and forestry exports to the US market in the first 3 months of 2025 will increase by 13.5%, China by 3.6% and Japan by 26%.

"This year, the agricultural sector aims to export agricultural, forestry and fishery products to reach 64 - 65 billion USD, striving for 70 billion USD as assigned by the Prime Minister. The results of the first 3 months of the year show that we have a relatively secure premise," said Mr. Tien.

However, Mr. Tien also noted that the US is adjusting its tax policy and applying stricter standards to imported goods.

"In this situation, Vietnam has taken proactive steps to prepare, especially for agricultural products, we have a response scenario to minimize the impact. That is, some US agricultural products exported to Vietnam will have their taxes reduced to handle both sides harmoniously," Mr. Tien added.

Coffee export prices increased by more than 70%

According to the Ministry of Agriculture and Environment, the volume of coffee exports in March is estimated at 200,000 tons with a value of 1.16 billion USD, bringing the total volume and value of coffee exports in the first 3 months of 2025 to 509,000 tons and earning nearly 2.9 billion USD.

Although the export volume decreased by 13%, the value increased by 50% because the average export price of coffee in the first 3 months of 2025 is estimated at 5,656 USD/ton, an increase of nearly 72% compared to the same period in 2024.

Germany, Italy and Japan are the 3 largest coffee consuming markets of Vietnam, accounting for 16.2%, 9.9% and 7.4% market shares respectively.

Compared to the same period last year, the value of coffee exports in the first 2 months of 2025 to the German market increased by 79%, the Italian market increased by 32%, and the Japanese market increased by 56%.

Among the 15 largest export markets, the value of coffee exports increased the most in the Polish market with an increase of more than 3 times, while Indonesia was the only market with a decrease in export value with a decrease of 37%.

Regarding seafood exports, in March, it also reached 860 million USD, bringing the total export value of seafood products in the first 3 months of this year to nearly 2.3 billion USD, an increase of 18% over the same period last year.

China, Japan and the US are respectively the 3 largest markets for seafood products of Vietnam.

Compared to the same period last year, the export value of aquatic products in the first two months of 2025 to the Chinese market increased by 76%, to the Japanese market by 13%, and to the US market by 15%.

On the contrary, rice and vegetable exports both decreased, reaching only 1.14 billion USD, down 20% and 11% respectively compared to the same period last year.

The average export price of rice decreased (522 USD/ton, down 20%) and China reduced vegetable and fruit imports (down 39%) were the reasons for the decrease in export value of these two items compared to the same period last year.

Source: Tuoi Tre Newspaper