Việt Nam’s durian export is heading for US$3.5 billion in revenue this year after jumping by 5 times to finish at more than $2 billion in 2023.
Government approves national strategy on crop cultivation development.
Vietnam exported 267,000 tonnes of pepper worth US$912 million last year, representing an increase of 16.6% in volume, but a decrease of 6.0% in value compared to figures from 2022, according to details given by the Ministry of Industry and Trade.
Vietnam strives to achieve a value of livestock product export value of around US$1-1.5 billion by 2025.
Regarding the shipping industry as a whole, Tien Phong Securities Company believes that the outlook for 2024 will be more positive due to the gradual cooling down of global inflationary pressures and an increase in demand for goods transportation.
The year 2024 is forecast to remain a challenging year for wood industry, given several issues affecting the sustainability of production and export, according to experts.
Foreign firms contributed 259.95 billion USD or 73.1% of Vietnam’s total export revenue in 2023, statistics show.
Vietnam aims to produce 1.7 million tonnes of commercial tra fish and earn 2 billion USD from exporting the products in 2024, according to Deputy Minister of Agriculture and Rural Development Phung Duc Tien.
Vietnam targets exports of agricultural produce such as fruits, rice, cashew, and timber worth over US$26 billion a year by 2030.
Experts have pointed out 10 problems that are hindering the development of the rice value chain, though Vietnam has great advantages for production.
With a total export turnover of up to US$2.2 billion, Vietnam’s durian export boomed in 2023, bringing a good harvest season for durian farmers and exporters.
Vietnam’s good imports and exports in 2023 have fallen short of the 700-billion-USD mark achieved in the previous year, estimating at 683 billion USD, down 6.6% year on year.
Amazon’s Vice President Eric Broussard said global retail e-commerce has opened up many opportunities and created a new movement for sellers from many countries, including Vietnam.
Mobile phones and components, computers, electronic products and spare parts have become the two largest foreign currency earners, bringing in more than US$50 billion each as of mid-December, according to the General Department of Vietnam Customs.
The Plant Protection Department under the Ministry of Agriculture and Rural Development announced that to date it has coordinated with importing countries to issue 6,997 growing area codes and 1,613 packaging facility codes for export.
The Ministry of Industry and Trade said that according to a press release from the Singapore Food Agency (SFA), the private company Viet-Sin Grocery, registered for business in Singapore since 2020, has been fined SGD$36,000 on the grounds of illegally operating two cold storage warehouses and illegally importing some meat and seafood products from Việt Nam.
Vietnam has shipped approximately 2.22 billion USD worth of durian products overseas in 2023, with increasing demand noticed in non-traditional markets.
Việt Nam this year continued to achieve a trade surplus for the eighth consecutive year, being estimated at US$26 billion, three times higher than in 2022. This is a trade surplus record for many years.
Vietnam dominates the global catfish market, ranking No 1 in both output and export volume. However, its market share has dropped because of the strong rise of rivals.
With estimated output of 43 million tons in 2023 and historic high export prices, Vietnamese farmers have made a high profit. Every $1,000 invested in each hectare of rice earned $3,000-3,500.