According to the Ministry of Agriculture and Rural Development, in the first 9 months of 2024, the trade surplus of agriculture, forestry and fishery reached 13.86 billion USD, an increase of 71.2% over the same period in 2023. This is a strong growth figure in recent years; contributing to the country's trade surplus of 20.79 billion USD.

Fruits and vegetables are one of the industries with the largest trade surplus in the first 9 months of 2024. (Photo: nhandan.vn)

Contributing to the trade surplus of the entire agricultural sector was the breakthrough turnover of many key commodities, such as: wood and wood products 11.66 billion USD; vegetables and fruits 5.87 billion USD; coffee 4.37 billion USD; rice 4.37 billion USD; cashew nuts 3.17 billion USD; shrimp 2.79 billion USD; pangasius 1.36 billion USD... Notably, pepper reached a turnover of 1 billion USD, officially joining the "billion dollar club" after more than 10 years of absence. In addition, the average export price of many commodities also recorded a record, including coffee up 56%, reaching 3,897 USD/ton; pepper up 49.2%, reaching 4,941 USD/ton; rubber up 19%; rice up 13.1%...

Since the beginning of the year, farmers of rice, durian, coffee, pepper, etc. have been very happy as the purchase price has always been high. This has encouraged farmers to increase production, boldly invest in applying science and technology, and advanced farming processes to create quality products.

The increase in export prices not only pushes up turnover, raising the trade surplus of the whole industry, but more importantly, it also causes the prices of many domestic agricultural products to continuously reach new peaks, bringing great profits to farmers.

Since the beginning of the year, rice, durian, coffee, pepper growers, etc. have been very happy when the purchase price has always been high. This has encouraged farmers to increase production, boldly invest in applying science and technology, and advanced farming processes to create quality products.

The strong increase in exports is also the driving force for the strong response and widespread spread of models of conversion from agricultural production to agricultural economy in localities, cooperatives, and farming households.

In recent years, the Vietnamese agricultural sector has been flexibly adapting to climate change, market fluctuations, and changes in consumption methods. Thanks to that, the amount of goods produced to serve domestic demand has a large amount left for export.

Therefore, agricultural trade surplus reflects the ability of functional agencies to promote trade and exploit the market effectively to best consume agricultural products; at the same time, it also demonstrates the internal strength of many industries, production areas, and processing enterprises when creating products that meet the quality, requirements, and designs of each market.

To further increase the trade surplus in the following months, the agricultural sector is continuing to expand the market and boost domestic production. The fourth quarter of 2024 is an opportunity for many agricultural sectors to accelerate exports as the world's demand for food and foodstuffs increases; some potential agricultural products such as frozen durian and fresh coconut have signed an official export protocol to the Chinese market, bringing the expectation of helping the fruit and vegetable industry approach the turnover of 7 billion USD; coffee and pepper are expected to set a new export record thanks to the export price remaining high due to limited supply.

Therefore, the last months of the year will be the time when the agricultural sector will focus on production towards the target of 57-58 billion USD in turnover for the whole year of 2024, increasing the trade surplus and increasing profits for farmers and businesses.

Source: Nhan Dan Newspaper