Sweet potatoes exported to Japan cost more than 50,000 VND/kg; Philippines spends 1.2 billion USD to buy Vietnamese rice are highlights in the export news of the week from August 5-11.

Vietnamese sweet potatoes exported to Japan cost more than 50,000 VND/kg

Sweet potatoes rank third among food crops in Vietnam, after rice and corn. In Lam Dong province, there are businesses that have built a sweet potato production chain from growing areas to processing and exporting. Thanks to that, processed sweet potato products have been sold in the market with high quality requirements, Japan.

Every year, Da Lat Food Processing Company processes about 3,000 tons of sweet potatoes, then exports them to Japan. One kilogram of sweet potatoes in the domestic market costs only about 15,000 VND, but the export price is more than 50,000 VND/kg.

Vietnamese sweet potatoes exported to Japan cost more than 50,000 VND/kg. Illustrative photo

To achieve that, this enterprise has shaped a direction so that the final product meets the standards required by the Japanese market. For example, sweet potatoes must not contain pesticide residues, and the starch and sugar content must reach a certain threshold...

The company has invested properly in technology for the 200-hectare sweet potato growing area in the Central Highlands. Thanks to that, the sweet potato yield is high at 45 tons/ha, with quality, and the recovery rate after processing has increased to 70%.

The sweet potato export market still has a lot of potential. However, in order for sweet potatoes to be present in many countries' markets, the first thing this agricultural product must do is affirm its quality, and at the same time, reduce costs to increase competitiveness.

In 6 months, total import-export turnover between Vietnam and the Philippines reached 4.21 billion USD.

According to the Vietnam Trade Office in the Philippines, in the first 6 months of the year, the country spent 1.2 billion USD importing rice from Vietnam, an increase of 40.9% over the same period last year.

Also in the first 6 months of 2024, Vietnam's total export turnover to the Philippine market reached nearly 2.93 billion USD, an increase of 17.6% over the first 6 months of 2023.

Some items with an export turnover of over 100 million USD to the Philippine market in the first 6 months of 2024 include machinery, equipment, tools and spare parts reaching 175.2 million USD; clinker and cement reaching 171.1 million USD; coffee reaching 133.8 million USD; phones of all kinds and components reaching 132.6 million USD.

The items with export turnover reaching from over 50 million to 100 million USD to the Philippine market in the first 6 months of 2024 include means of transport and spare parts reaching 89.6 million USD; computers, electronic products and components reaching 87.6 million USD; iron and steel of all kinds reaching 62.6 million USD; textiles reaching 60.6 million USD; footwear of all kinds reaching 51.9 million USD.

Vietnam's import turnover from the Philippine market in the first 6 months of 2024 reached nearly 1.28 billion USD, an increase of 19.5% compared to the first 6 months of 2023. Items with large import turnover include computers, electronic products and components reaching 779.2 million USD; machinery, equipment, tools, spare parts reaching 132.3 million USD; common metals of all kinds reaching 103 million USD; electric wires and cables reaching 48.7 million USD.

Thus, the total import-export turnover between Vietnam and the Philippines in the first 6 months of 2024 reached 4.21 billion USD. This allows forecasting that the total import-export turnover between Vietnam and the Philippines in 2024 could reach 8.1 - 8.3 billion USD, an increase of 3.9% to 6.4% compared to 2023.

Rice exports confident with target of 5 billion USD

According to data from the Ministry of Agriculture and Rural Development, in the first 7 months of 2024, Vietnam exported over 5.1 million tons of rice, with a turnover of 3.2 billion USD, an increase of 25% in volume and 5.8% in value over the same period in 2023.

Rice exports are confident with the target of 5 billion USD. Photo: Government Newspaper

It is worth noting that the average export price of rice in the first 7 months of this year increased significantly compared to the same period last year. According to the Vietnam Food Association (VFA), the average export price of Vietnam's rice over the past 6 months reached a record high: 636 USD/ton, up 18% compared to the average price of 538 USD/ton in the first 6 months of 2023.

According to VFA, the demand for rice imports from Vietnam's traditional customers such as the Philippines, Indonesia, China, Ghana, Malaysia, Singapore, etc. is high. In addition, rice exporting enterprises are also actively expanding to new markets such as the Middle East, Africa, South America, Korea, Japan, etc.

Notably, Vietnamese rice is considered to be of the world's top quality. For example, ST25 rice has been honored twice in a row as "The best rice in the world". In the first months of this year, Vietnam's rice export price was also the highest in the world, surpassing Thailand, Pakistan and India.

According to: Ngoc Ngan - Cong Thuong Newspaper