According to the Ministry of Agriculture and Rural Development, the export turnover of agricultural, forestry, and aquatic products in February 2024 reached 4.48 billion USD, an increase of 21.8% compared to February 2023, but a decrease of 16.5% compared to January 2024.
For the first two months of 2024, the total export turnover of the sector reached 9.84 billion USD, an increase of 50.3% compared to the same period last year. The agricultural, forestry, and fisheries sector had a trade surplus of 2.68 billion USD, nearly triple the figure for the first two months of 2023.
ALL ITEMS ARE “BRIGHT”
Contributing to the overall result, the group of agricultural products reached 5.18 billion USD, up 55.7%; the group of forestry products reached 2.9 billion USD, up 59.7%; the group of aquatic products reached 1.37 million USD, up 28.9%; the group of livestock products reached 78 million USD, up 15.1%; the group of input materials reached 309 million USD, up 13.6%.
According to the Ministry of Agriculture and Rural Development, the export value of agricultural, forestry, and aquatic products for the first two months of 2024 increased compared to the same period last year. Specifically, the Asian market reached 4.55 billion USD, an increase of 43%; the American market reached 2.31 billion USD, an increase of 74.2%; the European market reached 1.28 billion USD, an increase of 52.6%; the Oceanic market reached 135 million USD, an increase of 48.8%; the African market reached 129 million USD, an increase of 60.4%.
“What is even more encouraging is that in the first two months of 2024, compared to the same period in 2023, the export prices of many agricultural products increased significantly. Specifically: the price of rice reached 699 USD/tonne, an increase of 32.2%; coffee reached 3,153 USD/tonne, an increase of 44.7%; rubber reached 1,429 USD/tonne, an increase of 3.4%; pepper reached 4,041 USD/tonne, an increase of 28.7%; tea reached 1,699 USD/tonne, an increase of 1.7%…”
According to the Ministry of Agriculture and Rural Development.
In the first two months of 2024, the United States was the largest market for Vietnamese agricultural, forestry, and aquatic products, with a growth rate of 77.3% compared to the same period last year, accounting for 21.5% of the total export turnover of the sector. China ranked second with a growth rate of 47.9% and accounted for 21%; Japan grew by 29.2% and accounted for 7.2%.
The report of the Ministry of Agriculture and Rural Development also noted that key agricultural, forestry, and aquatic products achieved “impressive” export growth in 2023 and continued to soar in the first two months of 2024. For example, rice exports increased by 35.3% in value compared to 2022, but in the first two months of 2024, it increased by 49.8% compared to the same period in 2023. Moreover, while the average export price of rice in 2023 reached 575 USD/tonne, in the first two months of this year, it set a new record for the average export price, reaching nearly 700 USD/tonne.
For fruits and vegetables, 2023 witnessed a record export turnover of 5.6 billion USD, an increase of 65.6% compared to 2022. In the first two months of 2024, with an export turnover of 970 million USD, the value of fruit and vegetable exports increased by 72.8% compared to the same period last year. Cashew nut exports also performed well, reaching 595 million USD in the first two months of 2024, an increase of 68.2% compared to the same period last year.
Coffee exports hit a record high of 4.24 billion USD in 2023, an increase of 4.6% compared to 2022. However, in the first two months of 2024, coffee exports reached 1.38 billion USD, a significant increase of 85% compared to the same period in 2023. Notably, while the average export price of coffee in 2023 reached 2,614 USD/tonne, an increase of 14.5% compared to 2022 (the record export price for the 2023 period and before), in the first two months of 2024, the average export price of coffee was 3,153 USD/tonne, an increase of 44.7% compared to the same period in 2023. This is a high price that domestic farmers and businesses have never imagined.
In 2023, the aquatic products and wood and wood product sectors experienced a sharp decline, with a decrease of 18% and 16.2% in export turnover, respectively, compared to 2022. However, in the first two months of 2024, the wood and wood product group “shined” again with a very high growth rate. Specifically, the export turnover of wood and wood products reached 1.68 billion USD, an increase of 59% compared to the same period last year.
However, it seems that the seafood industry has not yet found its recovery. In the first two months of 2024, the export turnover of seafood to various markets reached 620 million USD, an increase of 1.9% compared to the same period last year. This industry is also experiencing mixed developments among its main export products. While shrimp exports reached 403 million USD, an increase of 20.5%, pangasius exports only reached 224 million USD, a decrease of 0.7%.
Evaluating the export results of agricultural, forestry, and aquatic products in the first two months of 2024, Deputy Minister of Agriculture and Rural Development Phung Duc Tien said that the high growth rate is the result of the sector’s restructuring process and the gradual shift of production towards market orientation. In 2023, China was Vietnam’s largest market for agricultural, forestry, and aquatic products, with a growth rate of 18% compared to 2022 and accounting for 23.2% of the total export turnover of Vietnamese agricultural, forestry, and aquatic products. Meanwhile, due to a 17.9% decrease, the US has been pushed down to the second position, accounting for 21% of the total export turnover of Vietnamese agricultural, forestry, and aquatic products.
CONTINUING TO PROMOTE EXPORTS
However, in the first two months of 2024, the export turnover of agricultural, forestry, and aquatic products to the US market regained the top position with a growth rate of 77.3% compared to the same period last year, accounting for 21.5% of the total export turnover of the sector. China ranked second with a growth rate of 47.9% and accounted for 21% of the total export turnover of the sector. This shows that the quality of Vietnamese agricultural products has been improved as these are markets with strict standards and regulations…
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