Do Ha Nam, Chairman and Common Director of Intimex Group, described 2024 as a extremely profitable 12 months for Vietnam’s agricultural sector. The sector’s export turnover of over 62 billion USD far exceeded the federal government’s goal of 54–55 billion USD. This achievement was largely pushed by record-setting exports of rice, espresso, and fruits. The important thing contributors to this progress included espresso exports (up 56.9%); pepper (up 53.3%); rubber (up 24.6%) and rice (10.6%).
Vietnam set unprecedented information in each rice export quantity and worth, with roughly 9 million tonnes value 5.7 billion USD. The typical export value reached an all-time excessive of over 600 USD per tonne. Nam highlighted a strategic shift in Vietnam’s rice manufacturing, specializing in premium, high-quality aromatic rice varieties and steadily lowering lower-grade rice manufacturing.
Vegetables and fruit lead progress
The opening of latest markets – equivalent to pomelos to the Republic of Korea, ardour fruit to Australia, and expanded commerce protocols permitting frozen durians and contemporary coconuts to China – has pushed exceptional progress in fruit and vegetable exports. Annual export turnover on this sector is forecast to achieve 7.2 billion USD, a 28% improve from 2023, with durian alone doubtlessly attaining a report of three.5 billion USD. These milestones solidify durian’s pivotal position within the fruit and vegetable sector.
Deputy Minister of Agriculture and Rural Improvement Phung Duc Tien praised the sector for sustaining excessive progress and broad growth regardless of challenges equivalent to market fluctuations, pure disasters, and ailments. Agro-forestry-aquatic product exports emerged as a vibrant spot, contributing 65–72% of the entire commerce surplus within the nationwide economic system.
Tien attributed the sector’s success to constant restructuring and the adoption of scientific and technological advances. Efforts equivalent to combating saltwater intrusion, recovering swiftly from pure disasters, and growing provide chains related to processing and export markets have propelled sustainable progress. Commerce protocols and market entry agreements have additionally supplied a strong basis for important export breakthroughs.
China stays a crucial marketplace for Vietnamese agricultural product exports, significantly fruits, cassava, rubber, and seafood. Nong Duc Lai, Commerce Counsellor on the Vietnamese Embassy in China, famous that city Chinese language shoppers more and more favour high-quality merchandise with clear origins. Thus, Vietnamese companies are inspired to adjust to high quality requirements, quarantine laws, packaging, and traceability necessities whereas investing in model constructing. Strengthening high quality management is crucial to enhancing the repute of Vietnamese agricultural merchandise.
For the European Union (EU), the world’s third-largest marketplace for agro-forestry-aquatic merchandise, Tran Van Cong, Vietnam’s Agricultural Counsellor within the EU, emphasised the necessity for stricter inspections and options for gadgets topic to elevated scrutiny. Creating uncooked materials zones compliant with EU requirements might be essential for accessing this demanding market, he added.
Past conventional markets, Vietnam can also be exploring new alternatives, significantly within the Halal market of the Center East. Deputy Minister Phung Duc Tien described this as a big likelihood for Vietnam’s agro-forestry-aquatic merchandise to broaden, noting that the sector is specializing in accelerating commerce promotion to penetrate the Halal market and unlock new progress potential./.VNA
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