Agricultural exports jumped by 24.4% to US$15.76 billion in the first half of 2024, with that of coffee, rubber, rice, fruits and vegetables, and cashews all exceeding $1 billion.
Coffee exports grew the most, according to the Ministry of Agriculture and Rural Development, rising by 34.6% to $3.22 billion, thanks to a massive surge in prices, as 902,000 tons were shipped.
Rice exports totaled 4.68 million tons and fetched nearly $3 billion, a 32% increase, as demand in major markets like the Philippines, Indonesia, China, and Africa saw double-digit growth.
Durian accounted for over a third of that figure at $1.32 billion, with China being the top buyer.
Export prices, most notably of durian, dragon fruit, mango, and banana, had also soared from a year earlier.
Cashew exports of 350,000 tons fetched nearly $2 billion, up 17.4%. Exports of rubber grew by a more modest 4.5% to around $1.09 billion.
According to industry associations, agricultural exports soared due to higher demand from large trade partners such as China, the U.S., the Philippines, Japan, and South Korea.
The impact of the El Niño phenomenon reduced agricultural supply globally, resulting in record-high prices for many products.
Nguyen Nam Hai, chairman of the Vietnam Coffee Cocoa Association, said coffee exports would top $5 billion this year, surpassing last year’s historic peak of $4.2 billion.
The Vietnam Food Association said major markets such as China, the Philippines, and Indonesia are all importing more rice, creating a big opportunity for Vietnam.
Indonesia plans to import 5.18 million tons of grain this year, up from an earlier forecast of 3.6 million tons.
The Philippines expects imports to increase from 3.8 million tons last year to 4.5 million tons.
Dang Phuc Nguyen, general secretary of the Vietnam Fruit and Vegetable Association, said Vietnamese products are favored by consumers in many markets.
Durian, the biggest earner of any fruit or vegetable, is gaining prominence due to low prices and short shipping times.
Its exports are expected to skyrocket in the second half driven by its harvest in the Central Highlands from July to October, Nguyen predicted.
Vietnam and China have completed technical negotiations and are about to sign a protocol for the export of frozen durian, he said.
China would also soon allow the export of other frozen fruits, coconut, and some medicinal herbs, he added.
Source: VnExpress
