Vietnam's Agro-Forestry-Fishery Exports Increase by 5.7% in February 2023

The main agricultural group reached $1.79 billion, an increase of 25.9%, while animal husbandry hit $29 million, up by 46.5%, and aquatic products reached $662 million, up by 4%, The Ministry of Agriculture and Rural Development released the report.

However, the export of the main forestry products decreased by 10.7%, reaching nearly $872.1 million, and input production reached $158 million, down 5.2%.

In the first two months of 2023, the total export and import turnover of agro-forestry-fishery products was approximately $11.99 billion, a decline of 16.8% compared to the same period in 2022. 

The trade surplus is $559 million, which is a 68.5% decrease from the same period last year. The United States and China remain the biggest markets for Vietnamese agro-forestry-fishery products, accounting for 20.2% and 19% of the market share, respectively.

According to the Department of Quality, Processing, and Market Development for Agro-Forestry-Fishery Products, in 2022, the export turnover of fruits and vegetables reached $3.37 billion. 

In the first two months of 2023, the export turnover of fruits and vegetables reached $592 million, an increase of 17.8% compared to the same period in 2022. 

Vietnam produces vegetables and fruits throughout the year and has been participating in free trade agreements, which eliminate most of the export taxes on vegetables and fruits, creating opportunities to increase the export turnover of vegetables and fruits and processed products.

Despite the favorable conditions, Vietnamese vegetable and fruit exports face the challenge of meeting increasingly high market standards. Mr. Le Thanh Hoa, Deputy Director of the Department of Quality, Processing, and Market Development of Agricultural Products, said that the lack of information on market demand and access to distribution channels of importing countries poses a challenge. 

There are also potential types of fruit that has not been granted import permits by the market while exporting fresh fruits faces obstacles due to long transport times and difficult preservation. 

Mr. Hoa believes that producers and exporters must innovate cultivation methods, improve product quality, and promote vegetable and fruit processing to enhance the value of agricultural products.

Source: VnEconomy