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Vietnam sees 50% y-o-y increase in agro-forestry-fishery exports in January-February

Vietnam sees 50% y-o-y increase in agro-forestry-fishery exports in January-February

Friday, March 01, 2024, 15:01 GMT+7
Vietnam sees 50% y-o-y increase in agro-forestry-fishery exports in January-February
Vietnamese Minister of Agriculture and Rural Development Phung Duc Tien. Photo: Chi Tue / Tuoi Tre

Vietnam shipped an estimated US$9.84 billion worth of agro-forestry-fishery products overseas during the first two months of the year, marking a 50-percent rise against the same period last year, according to the Ministry of Agriculture and Rural Development.

The country also enjoyed a trade surplus of $2.68 billion, improving nearly 2.9-fold year on year, Deputy Minister of Agriculture and Rural Development Phung Duc Tien told a press briefing on Thursday.

The outbound sales of agro and forestry items both inched up almost 60 percent versus last year, reaching $5.18 billion and $2.9 billion, respectively; while that of fishery products stood at $1.37 billion, up 29 percent compared to the 2023 figure.

Most of the staple products like wood, coffee, vegetables, rice, cashew nuts, and shrimp saw their export value up between 20 percent and 85 percent.

Meanwhile, tra fish (pangasius) exports dipped slightly by almost one percent at $224 million.

Vietnam also recorded increases in the average export prices of several agro items. For instance, its rice and coffee sold for $699 and $3,153 per metric ton, rising 32 percent and 45 percent, respectively.

These encouraging figures signify a promising beginning for the local agriculture sector in 2024.

The sector aims to achieve approximately $55 billion in export revenue throughout the year, according to Tien.

He added that the U.S. and China were the two biggest buyers of Vietnamese agro-forestry-fishery products, accounting for $2.1 billion and $2.065 billion, respectively, followed by Japan, the Philippines, and South Korea.

Aside from the said major markets, the ministry will seek measures to approach markets in the Middle East, Africa, and those consuming Halal products to promote the agro-forestry-fishery products of Vietnam.

Halal refers to food products and services that adhere to Muslim law. The food is processed, manufactured, and transported under stringent Islamic rules.

The ministry has tasked the Vietnam business of the Netherlands-based animal nutrition company De Hues with focusing on exporting chicken to Halal-consuming markets, with firm expected to sign cooperation deals with two countries this May to export the meat, Tien said.

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Hong Ngan - Chi Tue / Tuoi Tre News

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