US - Biggest Importer of Vietnamese Agro-Forestry-Fishery Products

The US represents the largest buyer of agro-forestry-fishery products from Vietnam during the two months. Photo: congthuong.vn

The total agro-forestry-fishery export turnover was estimated to be at $9.84 billion during the two months, marking a surge of more than 50% over the same period from last year, with a trade surplus of $2.68 billion, a nearly 2.9-fold increase, VOV said, cited statistics by the Ministry of Agriculture and Rural Development (MARD).

Export turnover witnessed a drastic upturn thanks to increases recorded in all export commodity groups. In particular, contributing to this result were agricultural products with $5.18 billion; forestry products with $2.9 billion, these two commodity groups increased by nearly 60%; and aquatic products with $1.37 million, up 29%.

​Key items like wood products, coffee, fruits and vegetables, rice, cashew nuts, and shrimp saw increases in export revenue, ranging from 20.5% to 85%. Tra fish (pangasius), however, dropped 0.7% to only $224 million.

​Key items like wood products, coffee, fruits and vegetables, rice, cashew nuts, and shrimp saw increases in export revenue, ranging from 20.5% to 85%. Photo: VNA

Deputy Minister Phung Duc Tien assessed from the market structure that the quality of local agricultural products meets the demands of high-end markets. This shows that the recovery of markets, as well as the restructuring of the agricultural sector, is more closely linked to the industry.

​In addition to China, the US, Japan, and the EU, the MARD will focus on exporting agro-forestry-fishery products to Halal, Middle Eastern, and African markets.

The MARD is currently directing the De Hues Group to focus on exporting chicken meat to the Halal market. It is expected that the group will sign cooperation agreements with the first two countries for exports in May. The Ministry has also directed the fisheries industry to focus on promoting and opening the Halal market.

“Even though we have exported to many markets and trade promotion has been effective, we must enter demanding markets with special characteristics so that Vietnamese agricultural products can access more segments, many more markets for greater export revenue," Deputy Minister Tien added.

Fruit, vegetable export – a bright spot

Vietnam’s fruit and vegetable exports in the first two months of this year surged 38% to about $749.7 million, which is expected to peak at nearly $7 billion this year.

The sector is hoped to remain a bright spot in 2024 as many businesses reported that order books are full until the end of the first quarter, according to Lao dong (Labour) Newspaper.

Vietnam is striving to further assert its durian export position and join the billion-dollar export industry. Photo: congthuong.vn

Durian alone would will bring in $3.5 billion after the Vietnamese Ministry of Agriculture and Rural Development and the General Administration of Customs of China signed a protocol on phytosanitary requirements for the Vietnamese fruit exported to the neighboring country last year, said Dang Phuc Nguyen, General Secretary of the Vietnam Fruit and Vegetable Association (Vinafruit).

Although shipments to Europe and the US are forecast to be hindered by the Red Sea tension in the time ahead, exports to China will be boosted, driven by durian, dragon fruit, jackfruit, banana, and mango, he added.

Deputy Minister of Agriculture and Rural Development Phung Duc Tien said four more Vietnamese products will be shipped to China via the official channel in the time ahead, comprising medicinal herbs, coconut, frozen fruit, and watermelon, thus contributing greatly to Vietnam’s agricultural export revenue.

According to statistics from the General Department of Customs, Vietnam’s fruit and vegetable export turnover hit an estimated $5.6 billion last year, up 66% year-on-year. Surpassing dragon fruit, durian recorded the highest export value.

China remained the biggest buyer, with the import turnover reaching $3.7 billion in the year, up nearly 250% in value and 65% in market share compared to 2022./.

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