New record set in fruit, vegetable exports
New record set in fruit, vegetable exports
Vietnam’s export revenue of vegetables and rice in the first 10 months of this year surpassed the figure reported in the whole 2022 by $2 billion, reaching a record amount of $8.9 billion.
Farmers harvest dragon fruits in the central province of Binh Thuan. Photo by VnExpress/Viet Quoc |
In the January-October period, vegetable exports reached $4.92 billion, up 79% year on year, while rice exports amounted to $4 billion, a rise of 35%.
The result significantly contributed to the export revenue of $40 billion for the agricultural sector and $291 billion for the entire economy in the first 10 months of 2023.
Affected by the Chinese market, Vietnam suffered a 5.1% drop in vegetable exports in 2022. However, since the beginning of this year, Vietnam has received a large number of orders, especially for high-value products such as durians, mangos, and jackfruits.
According to the Vietnam Fruit and Vegetable Association (Vinafruit), the reopening of the Chinese market, as well as protocols signed with the largest market for Vietnamese fruits and vegetables, were among the motivations for the growth of fruit and vegetable exports.
Meanwhile, the rice sector also achieved good results in exports during the period thanks to an increase in prices.
According to Nguyen Van Don, Director of the Viet Hung JSC in the Mekong Delta province of Tien Giang, India's ban and restriction on rice exports created an opportunity for other exporters like Vietnam, the third-largest rice supplier in the world.
With an expected output of over 43 million tonnes this year, the Ministry of Agriculture and Rural Development estimates that after ensuring supply for domestic demand, Vietnam can ship abroad 7.5-8 million tonnes of rice in 2023.
The ministry believes that in the last two months of this year, Vietnam is likely to earn an additional $850-900 million from rice exports, raising the total figure for this year to $4.7-4.8 billion.
Experts believe that in the remaining months of the year, as the festive season approaches, demand for fruits and vegetables will continue to surge, especially in the Chinese market.
Vinafruit General Secretary Dang Phuc Nguyen said that in the last two months of 2023, Vietnam can earn about $1.2 billion, or at least $600 million each month, from fruit and vegetable exports.
In a more optimistic scenario, the figure may reach $1.5 billion thanks to increased orders from the Chinese market, especially for Vietnam's strong products such as dragon fruits, bananas, jackfruits, passion fruits, and durians.
