Vietnam's exports of fruits and vegetables strive to hit $5 billion
Vietnam's exports of fruits and vegetables strive to hit $5 billion
Vegetables are the agricultural sector's greatest export segment, due in part to the increased demand from China.
According to the General Statistics Office, fruit and vegetable exports were in the spotlight in the first half of 2023, reaching an estimated $2.7 billion – up 64.2 per cent from the same period in 2022.
Phung Duc Tien, Deputy Minister of Agriculture and Rural Development, stated at a July 3 press conference that, given the present development momentum, fruit and vegetable exports are certain to surpass $5 billion in 2023.
According to the Ministry of Agriculture and Rural Development (MARD), China's increased purchases account for the significant increase in fruit and vegetable exports, particularly dragon fruit, durian, mango, and jackfruit.
In the first half of 2023, vegetable and fruit products, coffee, grains, and macadamia nuts – which have been the mainstay of agricultural and forestry exports – rose by 6.1 per cent over the same period in 2022.
According to Tien, Vietnam's fruit and vegetable exports could reach $10 billion in the future if greater processing investments are made and the market potential is fully exploited.
The deputy minister stated, "Vietnam still has numerous opportunities to export agricultural products to the global market. Based on the situation and product structure, MARD's operations will be adaptable to any new context. It is projected that the GDP growth rate for the entire industry will reach 3-3.5 per cent in 2023."
Tien feels that export growth must be sustained for commodities with strong export potential, such as vegetables, rice, and animal feed. All technical, phytosanitary, and food safety requirements must be met, and contracts must be properly enforced.
According to Vu Ba Phu, director of the Vietnam Trade Promotion Agency (Vietrade), the month of June's exceptional export volume demonstrates that trade promotion solutions have produced clear results. Vietrade intends to directly promote Vietnam's leading brands and agricultural products to Chinese importers and consumers through trade promotion conferences in numerous regions, including Guangxi and Hainan.
To improve the efficiency of import and export in the future, Vietrade is intent on trade promotion activities in emerging markets, such as India, Africa, the Middle East, Latin America, and Eastern Europe, as well as markets less affected by inflation and positive growth, such as ASEAN.
Vietrade continues to exploit free trade agreements (FTAs). It is facilitating the improvement of digital transformation in the issuance of preferential certificates of origin, enabling businesses to take advantage of FTA deals. Given that they have spanned almost all key markets and still have tremendous growth potential, utilising them continues to provide businesses with ample opportunities.
