Rice and vegetables "reach target" early

It is forecasted to reach US$ 5.5 billion

According to the Vietnam Fruit and Vegetable Association, fruit and vegetable exports in November 2023 are expected to reach more than US $ 375 million, down 38.4% compared to October (more than US $608 million), but up 22.5% compared to November 2022 (more than US $ 306 million). Total fruit and vegetable export turnover in eleven months is estimated at US $ 5.2 billion, an increase of more than 70% over the same period in 2022. In particular, durian is the export industry contributing the largest growth to the fruit and vegetable group, accounting for 40% of export turnover. Next are jackfruit, watermelon, grapefruit, and longan, all with growth rates of 50-200% compared to the same period last year. With this result, fruit and vegetable exports reached the finish line earlier than the set target and was also the first time vegetables and fruits led the agricultural industry, surpassing key groups such as rice, cashew nuts, and coffee to set a record new in 2023.

Regarding the market, the Vietnam Fruit and Vegetable Association said that China is the largest customer of Vietnamese fruits and vegetables, accounting for nearly 65% of turnover, US $ reaching 3.2 billion, an increase of 164.7% compared to the same period in 2022. In addition, fruit and vegetable products exported to traditional markets also recorded good growth such as: the US reached over US $ 212 million, down more than 3% compared to the same period last year; Korea reached US $ 187 million, up 25%; Japan is 151 million USD, up 7%...

Analyzing the reasons for a sudden increase in fruit and vegetable exports in 2023, talking with Customs Magazine reporters, Mr. Dang Phuc Nguyen, General Secretary of the Vietnam Fruit and Vegetable Association, said that Vietnam's deeply participation into the world economy through the signing of many bilateral and multilateral free trade agreements; Along with that, the authorities have promoted promotion, expanded markets, promoted trade facilitation solutions..., helping Vietnam's fruit and vegetable exports reach a record of more than US $ 5 billion.

In addition, China is the largest export market for Vietnamese fruits and vegetables, when the country reopened a number of border gates from the beginning of this year, along with the protocols signed from the end of 2022, it is also one of the main reasons driving the growth of the fruit and vegetable industry.

“In addition, as farmers increasingly know how to grow in the direction of good agriculture, VietGAP, quality increases, quantity increases, so Chinese Customs has approved 230 additional codes of durian growing areas and packaging facilities. in Vietnam alone, increasing the total number to 343 licensed establishments. This is also a great driving force for the growth of Vietnam's fruit and vegetable exports to this market. Currently, durian and jackfruit are the two most exported products to the Chinese market," Mr. Dang Phuc Nguyen added.

In addition to jackfruit and durian with impressive growth in export turnover, grapefruit also became a bright spot in the picture of fruit and vegetable exports. According to preliminary statistics from the Vietnam Fruit and Vegetable Association, from the beginning of the year until now, grapefruit exports to markets have reached about US $ 30 million, an increase of 144% over the same period in 2022, this is also the strongest increase within the past 5 years.

According to forecasts of many experts, because the end of the year is the peak time for shopping and consumption activities, the export situation of this industry is forecast to continue to grow further. It is expected that by the end of 2023, Vietnam's fruit and vegetable exports will easily reach US $5.5 billion.

Continuously breaking records

Besides the fruit and vegetable industry, rice is also the industry that continuously sets new records, when in just eleven months of this year, export turnover has exceeded more than US $4 billion. This is the highest level after thirty-four years of our country returning to the world rice export market. Currently, Vietnamese rice has surpassed Thai rice and has the highest selling price. Rice exports not only recorded growth in volume but also increased in value and selling price.

Specifically, according to data just announced by the General Statistics Office, in the first half of November 2023, the country exported 332,214 tons of rice, worth US $219 million. Accumulated from the beginning of the year to November 15, 2023, the country has exported 7.37 million tons of rice, bringing in US $4.15 billion. Thus, rice exports have far exceeded 2022 (7.1 million tons, worth US $3.45 billion). Regarding rice export markets, the two leading markets are ASEAN and China. Among them, in ASEAN, rice is exported most to the Philippines, Indonesia, and Singapore. Updated data for ten months, exports to ASEAN reached 4.2 million tons, up 25.7%; Exports to China reached nearly 900,000 tons, up 16.7% over the same period last year. With the current export momentum, it is expected that in 2023, Vietnam will export approximately 8 million tons of rice, earning about US $ 4.5 billion.

According to forecasts, rice export prices of Vietnam in particular and the Asian region in general will continue to increase in the near future in the context of rice supply tensions that show no signs of improvement. Especially when recently, India is expected to maintain rice export restrictions next year. This could cause rice prices to continue to remain at their highest level since the 2008 food crisis, as India is the world's leading rice exporter.

The supply shortage from India could have a major impact on the rice market in the last months of this year and the beginning of next year. Accordingly, it is forecast that in 2024 there will be a lot of room for Vietnam's rice exports due to imports demand increased from many major markets when supply was in short supply and countries increased imports to ensure food security in the face of unpredictable fluctuations in the global rice market.

Although rice exports increased sharply in both quantity and price, Deputy Minister of Agriculture and Rural Development Phung Duc Tien said that in order to export rice sustainably, there is not much construction of the rice industry value chain, while This is a very important issue for every industry. At the same time, export businesses need to control the quality of products well and strictly ensure regulations from the import market, because more and more countries are applying technical barriers.

Source:Custom News