According to the Ministry of Agriculture and Rural Development, which contributes to the export results of agricultural, forestry and fishery products in the first 6 months of 2023, there are 7 products and product groups with an export value of over USD 1 billion, including: Coffee , rubber, rice, vegetables, cashews, shrimp, wood products.

VEGETABLES, RICE, AMAZING THINGS

Vegetables, rice and cashew nuts are products that increase both the volume and value of exports. Specifically: vegetables increased by 80%; Rice (up 22.2% in volume and 34.7% in export value), cashews (up 10.5% in volume and 7.7% in export value) compared to the same period last year.

The export of vegetables and fruits is estimated to bring in nearly US$0.95 billion in June 2023, 2.6 times that of June 2022. In the first 6 months of 2023, the export turnover of fruits and vegetables is estimated at 2, Estimated $8 billion.

The Department of Agriculture and Rural Development said rice exports brought in $300 million in June 2023. Over a six-month period, rice exports were 4.2 million tons and sales were $2.32 billion. The average export price of rice in the first five months of 2023 is estimated at USD 517/ton, up 5.8% from the same period in 2022 (USD 489/ton).

In the first half of 2023, the Philippines is Vietnam’s largest rice consumption market with a market share of 42.4%; Compared to the same period last year, volume increased by 40.6% and value by 53.4%. China’s rice imports from Vietnam also rose 93.2% in volume and 116% in value compared to the same period last year.

Vietnamese rice has been exported to 156 countries and territories, the market structure is increasingly diversified, the structure of exported rice varieties has changed positively towards increasing the proportion of quality and value-added products. high, penetrate many high-end rice markets.

According to the Vietnam Food Association, the export price of Vietnamese rice is equal to and higher than that of Thailand and India. Specifically, Vietnam’s 5% broken rice price was USD 503/ton on June 23, an increase of USD 5/ton compared to the previous 10 days, which is in line with the price of 5% broken rice in Thailand and around USD 15/ton is higher. tons compared to Indian rice of the same variety.

Vietnam’s 25% broken rice as of June 23 was also up $5/ton to $478/ton, $8/ton more than rice of the same grade from Thailand and about $25/ton more than rice. India.

Cashew nuts also saw impressive growth in the first half of 2023, reaching US$1.6 billion, a 7.7% increase in value compared to the first 6 months of 2022. The average export price of Vietnamese cashew nuts in the second quarter of this year in 2023 is estimated at 5,805 USD/ton, down 2.3% compared to the first quarter and down 5% compared to June 2022 .

In general, the average export price of Vietnamese cashew nuts is estimated at USD 5,850/ton in the first 6 months of 2023, down 2.4% compared to the same period in 2022. Vietnam mainly exports W320 cashews, W240, W180, accounting for 62.3% of the total volume and 69.5% of the total export turnover of cashews of all kinds. Therefore, the export growth of the above kinds of cashews has had a positive impact on the whole industry.

For coffee alone, the volume fell (reached 1.02 million tons, down 2.2%), but thanks to the average export price up 5.2%, the export value reached $2.4 billion, up 3 % compared to the first half of 2022.

With other agricultural products export turnover in 6 months: rubber 1.05 billion USD; shrimp $1.56 billion; $4.07 billion worth of wood products…all down from the same period last year.

In terms of export markets, China, the United States and Japan remain the top three export markets for Vietnam’s agricultural, forestry and fisheries products. The export value to China accounted for 21.4% of the total export turnover of agriculture, forestry and fisheries and increased by 7.7% compared to the same period last year; Exports to the United States accounted for 20.2% of the industry’s total sales but fell 32.9%, and exports to Japan accounted for 7.7%, down 5.3% from the same period last year

FULL OUTLOOK POSITIVE GROWTH

The Ministry of Agriculture and Rural Development said it expects exports of agricultural, forestry and fisheries products to solve the problem of decline in sales, aiming to achieve 0% growth in three quarters. From there, the fourth quarter will grow positively and reach $55 billion for the full year, up 3.4% compared to 2022.

For the fish industry, the export turnover in the first six months was only US$4.13 billion, down 27.4% compared to the first half of last year. The main products have fallen sharply.

Shrimp has export sales of $1.56 billion, down 32% from $2.3 billion in the first 6 months of 2022. For Pangasius, exports continued to register negative growth in June 2023, resulting in a 40% decline in sales in the first 6 months of 2022 compared to the same period last year, reaching only USD 840 million.

According to the Ministry of Agriculture and Rural Development, pangasius production and export suffer from high input costs, as well as tighter credit and high interest rates, making it difficult for companies to raise capital.

As for the outlook for seafood exports in the second half of 2023, the Association of Seafood Exporters and Producers (VASEP) is forecasting a rebound, with prospects for the US market gradually improving.

According to VASEP, Vietnam’s seafood exports to the United States nearly halved in the first half of this year compared to the same period in 2022, with all major product segments seeing sharp declines of 30-60%. The two main products, shrimp and pangasius, fell the most, namely 42% and 62% less than in the same period last year.

However, looking at month-to-month export sales, this market is showing signs of improvement. Aside from the inflation factor leading to a drop in consumer demand in the US, a big reason for the still negative growth in Vietnamese seafood exports to the US is a major inventory problem after foreign importers massively increased their purchases in the first half of 2022 with stock sentiment and market forecast of a supply shortage over the past year.

US importers are forecast to release all inventories in the third quarter. In the fourth quarter, when stocks are depleted, and in the high demand season at the end of the year, importers will recover the progress of orders from Vietnam.

In order to restore positive growth for exports in agriculture, forestry and fisheries, the Ministry of Agriculture and Rural Development said that in the second half of the year, the Ministry will work closely with the Ministry of Industry and Trade to establish mechanisms and Policies for exports to implement country. With the work of trade promotion, negotiations to open and develop markets, quickly solve problems and promote exports of agricultural, forestry and fisheries products. It will also promote circulation and border trade, implement urgent congestion relief measures, and promote the export of agricultural products at the northern border gates.

In the third quarter of 2023, the Department of Agriculture and Rural Development will negotiate the export of fresh coconuts to the United States; agreed with Japan new stamps for export of fresh Vietnamese mangoes and dragon fruit to Japan from August 1, 2023; Discussed with the General Customs Office of China to finalize the draft protocol on import requirements for chili and traditional fresh fruits of Vietnam (except bananas).