US – Leading Importer of Vietnamese Agro-Forestry-Fishery Products

In the first two months of this year, the United States emerged as the top purchaser of Vietnamese agro-forestry-fishery products, accounting for a staggering $2.1 billion. Close on its heels was China, with a substantial sum of $2.065 billion.

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

The agro-forestry-fishery export turnover in the past two months was estimated at $9.84 billion, witnessing a surge of over 50% compared to the same period last year. The trade surplus reached $2.68 billion, nearly triple the figure of last year, according to VOV, citing the statistics from the Ministry of Agriculture and Rural Development (MARD).

The increase in export turnover is due to the growth in all export commodity groups. The agricultural products reached $5.18 billion, forestry products reached $2.9 billion, and aquatic products reached $1.37 million, increased by nearly 60% and 29% respectively.

Items such as wood products, coffee, fruits and vegetables, rice, cashew nuts, and shrimp also contributed to the increase in export revenue, ranging from 20.5% to 85%. However, the export revenue of Tra fish (pangasius) decreased by 0.7% to only $224 million.

Items such as wood products, coffee, fruits and vegetables, rice, cashew nuts, and shrimp also contributed to the increase in export revenue. Photo: VNA

Deputy Minister Phung Duc Tien stated that the quality of local agricultural products meets the requirements of high-end markets. This demonstrates the close link between market recovery, agricultural restructuring, and 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 working with the De Hues Group to focus on exporting chicken meat to the Halal market. The group is expected to sign cooperation agreements with the first two countries for exports in May. The Ministry has also directed the fisheries industry to promote and open the Halal market.

Deputy Minister Tien added, “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.”

Fruit and vegetable exports – a bright spot

Vietnam’s fruit and vegetable exports in the first two months of this year have increased by 38% to approximately $749.7 million. It is expected to reach nearly $7 billion this year.

The sector is expected to continue growing in 2024 as many businesses have reported having full order books until the end of the first quarter, according to Lao dong (Labour) Newspaper.

Vietnam aims to assert its position in the durian export market. Photo: congthuong.vn

The export revenue from durian alone is expected to reach $3.5 billion. This is possible due to the protocol on phytosanitary requirements for Vietnamese fruit exported to China, which was signed by the Vietnamese Ministry of Agriculture and Rural Development and the General Administration of Customs of China last year, said Dang Phuc Nguyen, General Secretary of the Vietnam Fruit and Vegetable Association (Vinafruit).

Although shipments to Europe and the US may be affected by the Red Sea tension in the future, exports to China will be boosted due to durian, dragon fruit, jackfruit, banana, and mango, he added.

Deputy Minister of Agriculture and Rural Development Phung Duc Tien stated that four more Vietnamese products will be sent to China via the official channel, including medicinal herbs, coconuts, frozen fruit, and watermelon, which will greatly contribute to Vietnam’s agricultural export revenue.

According to statistics from the General Department of Customs, Vietnam’s fruit and vegetable export turnover reached an estimated $5.6 billion last year, an increase of 66% compared to the previous year. Durian had the highest export value, surpassing dragon fruit.

Rosy Huong