Vietnam’s agro-forestry-aquatic product exports likely to set new record

Hanoi, November 2 (VNA) – Vietnam’s agro-forestry-aquatic product exports are likely to achieve a record high of 62 billion USD in 2024, said Deputy Minister of Agriculture and Rural Development Phung Duc Tien.

Tien said that in the first ten months of this year, the sector’s export revenue reached 51.74 billion USD, an increase of 20.2% compared to the same period of last year. With this growth momentum, the country's agro-forestry-aquatic product exports will see a new record in 2024, he said.

The official said that typhoon Yagi and its circulation caused damage of about 30.8 trillion VND to Vietnam's agricultural production. However, drastic measures were taken quickly to recover agricultural production in storm-hit localities and speed up production at localities that were not affected.

During the January-October period, export values of many product groups surged, for examples, aquatic products up 12%, forestry products up nearly 20%, and agricultural products up nearly 26%. Thus, the target of 54-55 billion USD in agro-forestry-aquatic product exports is surely exceeded. There are two months left, and if the country rakes in 5.5 billion USD from agro-forestry-aquatic product exports each month, the whole year's earnings will reach 62 billion USD - the highest amount so far, according to the Deputy Minister.

Regarding Vietnam’s efforts in expanding market, Tien said that Vietnam has signed three more protocols on exporting frozen durian, fresh coconut and crocodile to China.

Meanwhile, Vietnam also eyed to promote exports to Halal markets. Halal markets are very demanding ones and countries do not recognise each other's Halal certifications, which poses difficulties for Vietnam. Recently, Vietnam has had many products exported to Halal markets, including veterinary medicine, vaccines, and chicken.

Vietnam will gradually conquer the markets with high requirements and great potential like Halal markets, which expectedly push export values.

Regarding rice exports, the official said that in 2023, Vietnam exported 8.13 million tonnes of rice. In the first ten months of this year, Vietnam exported nearly 7.8 million tonnes. With the export growth and domestic production capacity, rice exports will reach over 8 million tonnes for the whole year.

Recently, India has resumed its export of 5% broken rice, which had a certain impact on Vietnam’s rice exports. However, in the supply chain of high-quality rice, Vietnamese rice still maintains relatively good export prices./.