Exports of rice, coffee, vegetables and fruits… reached a record turnover, along with the recovery of seafood and forest products, helping the agricultural sector earn nearly 52 billion USD after the first 10 months of 2024.
On the afternoon of October 31, Deputy Minister of Agriculture and Rural Development Phung Duc Tien informed about the production and export situation in the first 10 months of 2024.
According to Mr. Tien, agricultural, forestry and fishery export turnover in October continued to improve compared to September – estimated at 5.91 billion USD, up 24% over the same period last year.
Overall, in the first 10 months of this year, agricultural, forestry and fishery product exports have reached 51.74 billion USD, an increase of more than 20% over the same period in 2023. A surplus of 15.21 billion USD, an increase of 62% over the same period last year .
Mr. Tien said that contributing to this result, the export of some key agricultural products increased sharply over the same period last year, such as coffee exports reaching nearly 1.2 million tons and earning 4.6 billion USD. Although it decreased by 11% in volume, it increased by 40% in value compared to the same period in 2023.
The average export coffee price in the first 10 months of 2024 is estimated to reach 3,981 USD/ton, up 57% over the same period in 2023. Germany, Italy and Spain are the three largest coffee consumption markets of Vietnam in The first 9 months of 2024.
Coffee exports grew in markets in the group of 15 largest export markets, in which the markets with the strongest increase in coffee export value were the Philippines and Malaysia.
For rice products, in the first 10 months of the year, we exported nearly 7.8 million tons and turnover reached 4.86 billion USD, exceeding the rice export value of the whole year 2023 (4.68 billion USD).
The average export price of rice in the first 10 months of 2024 is estimated to reach 626 USD/ton, up 12% over the same period in 2023.
The Philippines is Vietnam’s largest rice consumption market with a market share of 45%. Indonesia and Malaysia are the next two largest markets.
Similarly, fruit and vegetable exports after 10 months have reached 6.34 billion USD, up 31.5% over the same period in 2023 and also exceeding the export turnover of fruits and vegetables for the whole year 2023 (5.69 billion USD).
Along with that, exports of cashew products (3.6 billion USD, up 19%), pepper (1.12 billion USD, up 48%), seafood (8.33 billion USD, up 12%), forestry assets (13.18 billion USD, up 21%) all increased sharply compared to the same period last year.
“The export milestone for the whole year 2024 assigned by the Government is 54 to 55 billion USD, which is completely satisfactory to be exceeded. For the remaining months of November and December, if each month exports only reach 5.5 billion USD, we will have an additional 11 billion USD. Along with the results of the first 10 months of the year, exports for the whole year 2024 are likely to reach over 62 billion USD. USD – this is the highest export result ever,” Mr. Tien said.
According to Mr. Tien, although Vietnam faced many difficulties last year in the context of many world conflicts, input material prices, and logistics, the above results were the foundation of many years of restructuring, market system and a number of new agricultural export protocols signed with China, so we believe this year will finish with the highest number.
