Vietnam’s agricultural products export earnings record new records – Asia News

Many Vietnamese agricultural products such as rice, coffee, cashew and durian have broken their own export earnings records, helping to improve the outlook for Vietnamese exports this year.

At the end of August, Vietnam exported almost 1.2 million tons of coffee for 2.9 billion dollars, which represents a drop of almost 6% in volume but an increase of 2.3% in value compared to the same period of the year. past, thanks to the rise in coffee prices in many consecutive months as a result of low supply.

According to the Ministry of Agriculture and Rural Development (MARD), Vietnam is likely to ship about 1.7 million tons of coffee abroad throughout the year to earn a record revenue of US$4.2 billion.

At the same time, in August, Vietnam exported an impressive volume of 61,000 tons of cashew nuts worth USD 334 million, 11% and 10% more than in July, and 29% and 22% more than in the same period of the year. last year. The result raised the total export volume of cashew nuts in the first eight months of 2023 to almost 396,000 tonnes with a value of US$2.3 billion. These figures represent year-on-year increases of 15.5% and 11.3%, respectively.

In the January-August period, the export of cashew nuts to key markets such as China, Germany, England, the United Arab Emirates and Saudi Arabia increased compared to the same period of the previous year. This year, the cashew industry aims to earn more than $3.1 billion from exports. According to the Vietnamese Cashew Association, the market is expected to maintain the upward trend until the end of the year, allowing the industry to complete its goal.

At the end of August, Vietnam exported almost 1.2 million tons of coffee for 2.9 billion dollars, which represents a drop of almost 6% in volume but an increase of 2.3% in value compared to the same period of the year. past

The fever surrounding rice prices continues to show no signs of calming down. At the end of August, Vietnam had sent 6 million tons of rice abroad for almost $2.3 billion, a figure equivalent to that registered in all of 2022.

Vietnam expects to export more than 1 million tons of rice by the end of this year, earning about US$600 million at current export prices. Many rice experts believe that in 2023, Vietnam can export up to 7.5 million tons of rice with a turnover of about 3.8 – 3.9 billion USD.

In the field of fruits and vegetables, along with the “rising star” of durians, which have achieved export revenues of more than 1 billion dollars in just eight months, many other products promise good growth in the coming months. left of the year and even next year.

In the January-August period, the export of cashew nuts to key markets such as China, Germany, England, the United Arab Emirates and Saudi Arabia increased compared to the same period of the previous year.

Dang Phuc Nguyen, Secretary General of the Vietnam Fruit and Vegetable Association, said that Vietnamese banana exports have grown not only in China, but in other markets such as Japan and the Republic of Korea. This product is expected to earn $500 million in export revenue in 2023 due to declining production in many countries.

In addition, other products such as jackfruits, mangoes, watermelons and, above all, coconuts also see great export potential.

Since early August, the United States has licensed Vietnamese coconuts. China is also studying granting codes so that coconuts are officially exported to the market. If approved soon, the export volume of coconuts in the coming times can increase by 2-3 times compared to the average level of recent years, up to about US$250 million.

According to Nguyen, this year Vietnamese fruit and vegetable exports may reach US$5 billion, a new record in the sector.

Article republished from the Vietnamese state media VNA within the framework of an agreement between both parties to share content. Link to the original article:https://en.vietnamplus.vn/new-records-set-in-agricultural-product-export-revenue/268646.vnp