Vietnam’s agricultural exports are reaching out to many new markets

Market Information
icon date25/07/2023

In the first 5 months of 2022, exporting agricultural products achieved many achievements in terms of output and quality, and at the same time received good news about market expansion opportunities.

Vietnam welcomes good news in agricultural export industry
According to the Ministry of Agriculture and Rural Development, in the first 5 months of 2022, the export turnover of agricultural products is estimated at over 23.2 billion USD, up 16.8% over the same period last year. This figure shows that the export volume of Vietnamese agricultural products is very large.
The major export markets of Vietnam are: the US, China and Japan, respectively. The most popular agricultural export products with a value of over 1 billion USD are: coffee, rubber, rice, cashew, vegetables, pangasius, shrimp, wood products…
According to the report of the Directorate of Fisheries, the total seafood production could reach 8.73 million tons and export turnover reached 9 billion USD in the whole year of 2022.
Moreover, according to the representative of the Vietnam Association of Seafood Exporters and Producers, commented: Currently, the EU’s seafood industry is facing a shortage of supply, this is one of the golden opportunities for Vietnamese pangasius and products to increase market share in this country.
If previously estimated the price of pangasius exported to Europe was only 2.7 USD/kg, in the first 6 months of 2022, the export price to this region reached an average of more than 3.45 USD/kg. This is one of the great news in Vietnam’s seafood industry.
With agricultural export products, the European Union (EU) is a strong market that is forecasted to open up many opportunities for Vietnam. Especially with the tariffs brought by the EVFTA and the huge amount of goods each time they are exported to a large market.
In particular, since the EVFTA officially took effect on August 1, 2020, many industries such as footwear, textiles, seafood, wood, and vegetables have made good use of it and increased export turnover. In which, Vietnam’s agricultural export products grew very high, at 20-30% per year and were not restricted in terms of types and output.
Some difficulties in the consumption of agricultural products
Despite receiving a lot of good news in the process of exporting Vietnamese agricultural products, there are still some limitations and difficulties in the consumption of agricultural products:
According to the Ministry of Agriculture and Rural Development, from the beginning of the year to the present time, the situation of exporting agricultural products has faced many difficulties. In which many difficulties come from the stage of animal and plant quarantine, food safety and hygiene, packaging, traceability…
The export of Vietnamese agricultural products still faces technical barriers even in markets with large export turnover such as China, because this country is currently applying control measures for imported frozen goods due to concerns about the risk of Covid-19 disease transmission.
Not only due to the impact of the Covid-19 problem, but our country’s agricultural products also face many difficulties. According to Mr. Ho Thanh Binh, Dean of the Faculty of Agriculture – Natural Resources: For many years, processing has added value to Vietnamese agricultural products. However, investment in processing technology has not been commensurate with the development speed of the agricultural sector.
The upcoming orientation for the agricultural export industry
Understanding the above difficulties, our Party and State have set many oriented goals for the agricultural product industry in the coming time, which are:
Firstly, to avoid the situation of devaluation or problems due to the covid 19 epidemic, we need to increase consumption, especially through the online system to avoid stagnation and inventory of agricultural products. At the same time, online consumption of products needs to solve the problem of reliability through product quality.
Secondly, it is necessary to side with the manufacturer to strictly ensure the process, ensure the quality of prestige to create products with a good reputation. Therefore, when bringing this product to consumers, it will ensure the trust of consumers.
Thirdly, in terms of trade organization, it is not only limited to businesses but also requires the participation of many ministries, sectors and local authorities to facilitate the circulation of goods without having to go through many inspection steps, causing product congestion.
Fourth, it is necessary to prepare the best conditions for production, to meet the requirements of quality, traceability, food hygiene and safety, etc. to ensure that goods are not affected by technical barriers.
Fifth, people participating in the circulation should be given priority to vaccinate. Because it is necessary to have a unified management nationwide so that traffic is not congested at quarantine stations in other localities. The Government, relevant ministries and agencies must have specific regulations and guidelines, so as not to have the situation where each place sets its own requirements, making it difficult for traffic.
Although there are still many challenges posed in the process of exporting agricultural products, Vietnam is still reaching out to many new markets and fulfilling the mission in the orientation of the Party and State.