Since the beginning of 2024, the prices of many Vietnamese agricultural products have continuously increased.
Domestic and world coffee prices continuously create new peaks. As of February 19, 2024, domestic coffee prices continue to increase, currently the average price is 81,000 VND/kg in the Central Highlands provinces, the highest purchase price in Dak Nong province is 81,400 VND/kg.
Specifically, the price of coffee purchased in Gia Lai and Kon Tum provinces is quite high at 81,000 VND/kg; In Dak Nong province, coffee is purchased at the highest price of 81,400 VND/kg.
Price of green coffee beans (green coffee, fresh green coffee) in Lam Dong province in districts such as Bao Loc, Di Linh, Lam Ha, coffee is purchased at a price of 80,300 VND/kg.
Coffee prices in Dak Lak province; In Cu M’gar district, coffee is purchased at 81,000 VND/kg, while in Ea H’leo district, Buon Ho town is purchased at the same rate of 81,100 VND/kg.
According to the Vietnam Cocoa Coffee Association (Vicofa), with the above developments, it is forecast that 2024 will continue to be a favorable year for coffee exports. The association also stated that although output may decrease, export turnover will increase and is expected to reach about 4.5 – 5 billion USD.
In fact, in January 2024, Vietnam’s coffee exports reached 210,000 tons, an increase of 48% in volume with a turnover of more than 621 million USD, an increase of 99.6% over the same period in 2023. Coffee increases in both quantity and value have pushed domestic coffee prices to high levels.
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Meanwhile, Vietnamese durian saw its price increase sharply at the beginning of the year. Grade A Monthong durian is currently being purchased by traders in Tien Giang for 200,000 VND/kg, an increase of nearly 20% compared to the end of last year. This price is equal to the old peak a year ago. At this price, according to the gardener’s calculations, even though it requires a large investment to handle off-season fruit production, the profit is up to 1 billion VND/ha.
According to statistics from the Chinese Customs Authority, this country imported 493 thousand tons of durian from Vietnam, worth 2.1 billion USD, an increase of 1,107.0% in volume and an increase of 1,035.8% in value. price compared to 2022. Vietnam’s durian market share in China’s total imports from 5% in 2022 increased sharply to 34.6%.
In addition, the Plant Protection Department (Ministry of Agriculture and Rural Development) has completed procedures and documents to request China to grant a license to import frozen durian from Vietnam. It is forecasted that frozen durian export turnover in 2024 will increase by 30%.
Besides coffee and durian, in 2023, against many commodity groups in the agricultural industry, rice products won an unprecedented victory when surpassing all forecasts and goals set at the beginning of the year, farmers said. The people ‘have a good harvest and a good price’.
In early 2024, Vietnam won a bid for 300,000 tons from Indonesia, accounting for 60% of the amount of rice the country wanted to buy. Vietnam is about to enter the Winter-Spring crop with large output but export rice prices are still maintaining 640 USD per ton, equivalent to last year’s peak. Rice exports in 2024 are predicted by many experts and managers to continue to be favorable, with rice export prices remaining high as the world market increases imports.
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According to a report from the Ministry of Industry and Trade, merchandise export turnover in January 2024 is estimated to reach 33.57 billion USD, up 6.7% compared to the previous month. Exports grew strongly and evenly in both the agricultural, forestry and fishery products group (up to 98.6%) and the processing industry group (up 38.4%).
In particular, the agricultural and aquatic products group continues to be a bright spot in the country’s export picture with an estimated turnover of 3.33 billion USD, up 9.1% over the previous month and accounting for 9.9% of the total. export turnover of the country. Continuing the momentum of success from 2023, Vietnam’s agricultural, forestry and fishery exports continue to confidently enter the new year Giap Thin 2024 with many optimistic signs.
