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Tuesday, June 18, 2024

Jan-May farm exports grow strongly

By T. Dao

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HCMC – Vietnam’s exports of agro-forestry-fishery products have soared by 21% in the first five months of this year to an estimated US$24.14 billion, according to the Ministry of Agriculture and Rural Development.

The ministry said the sector has recorded a trade surplus of US$6.53 billion during this period.

Agricultural exports alone have picked up by 27.7% year-on-year to US$13.11 billion. Forestry exports have increased by 22.7% to US$6.58 billion. Fisheries exports have edged up by 3.6%, and livestock exports by 5.6%.

Major export items have made substantial gains. Wood and wood products have picked up by 23.6%, coffee exports 44.1%, rice 38.2%, cashew nuts 19.3%, and fruit and vegetables 28.1%.

Export prices of some commodities have also inched up. The price of rice has leapt by 20.5% to US$638 per ton. Coffee prices have shot up by 49.9% to US$3,482 per ton, and pepper prices have soared 39.3% to US$4,308 per ton.

Exports to major markets have increased during this period. Shipments to Asia have risen by 17.5%, to the Americas 23.1%, and to Europe 39.4%. The U.S., China, and Japan have remained the largest importers of Vietnamese agricultural products, with respective growth rates of 23.9%, 8.6%, and 6.6%.

In May alone, the export value of agricultural, forestry, and fishery products has reached US$5.06 billion, up by 11.2% from the same period last year. Agricultural exports have improved by 14.3%, forestry by 17.9%, and livestock by 10.2%, while fisheries exports have fallen by 3.5%.

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