Four groups of agricultural products, including rice, cashew nuts, coffee and vegetables, brought in 13 billion USD after 7 months from the beginning of 2024, in which vegetables and fruits led with approximately 3.9 billion USD, followed by coffee, rice and cashew nuts.

Vegetables, rice, coffee and cashew nuts brought in export revenue of 13 billion USD in 7 months of 2024.

Exports of agricultural products have made a breakthrough since the beginning of the year, with orders increasing, so after 7 months from the beginning of 2024, they have contributed up to 13 billion USD in export revenue.

The growth in value of the above 4 groups of goods reached 22 - 30.91% compared to the same period last year.

Leading in terms of sales are vegetables and fruits, with approximately 3.83 billion USD, up 24.3%; followed by coffee with 3.54 billion USD, up 30.9%; rice with 3.27 billion USD, up 25.1% and cashew nuts with 2.37 billion USD, up 22.1% over the same period.

Except for the average export price of cashew nuts, which decreased by 3.3%, the remaining items all increased quite well. Accordingly, the average export price of Vietnamese rice in the past 7 months reached 632.2 USD/ton, up 18.2% over the same period. Most impressively, the average export price of Vietnamese coffee reached 3,683 USD/ton, up 52.3% over the same period in 2023.

For fruits and vegetables, the double-digit export growth rate in the first 7 months of this year shows that the quality of Vietnamese fruits and vegetables is increasingly improving, meeting the requirements of export markets.

For cashew nuts, exports to traditional and potential markets all grew positively compared to the same period last year. Of which, cashew nut exports to 9/10 traditional markets recorded double-digit growth.

The Ministry of Industry and Trade estimates that from now until the end of the year, the 4 above-mentioned groups of products will have wide opportunities to increase exports. With fruits and vegetables, in addition to exploiting the traditional Chinese market, this industry has the opportunity to boost exports to large potential markets such as Korea and China.

According to the Plant Protection Department (Ministry of Agriculture and Rural Development), after 3 months of widely consulting with relevant parties, the Korean Animal and Plant Quarantine Service (APQA) has officially announced on the APQA website the import regulations for fresh grapefruit from Vietnam to Korea.

Accordingly, from August 2024, Vietnamese enterprises can export fresh grapefruit to the Korean market. Thus, after dragon fruit and mango, grapefruit is the third fresh fruit from Vietnam allowed to be imported into Korea.

Another significant boost is the successful signing of the Protocol for fresh coconut and frozen durian to the billion-people Chinese market.

Because frozen durian is a new product with higher added value than fresh durian, it is expected that frozen durian exports can reach an export turnover of 400-500 million USD in 2024, the first year after signing the protocol.

As for coffee, it is forecasted that short-term exports will gradually decrease due to depleted supply, but in the long term, coffee exports will recover when the 2024/2025 coffee harvest begins and consumption demand increases during the year-end holiday season.

It is forecasted that, taking advantage of export opportunities in the remaining months, these 4 product groups can bring in 22 - 23.5 billion USD.

Source: Dau Tu Newspaper