Update on Vietnam's agricultural export situation in the first 8 months of 2023

Vietnam's agricultural exports increased by 11.5% over the same period last year, focusing mainly on the markets of China, the US and Japan. Join WTPAgri to find out details through the article below!

Vietnam's agricultural product export situation in the first 8 months of 2023

In August 2023, export turnover of the crop industry increased by 11.5% compared to August 2022, estimated at 2.16 billion USD.

In the first 8 months of 2023, the export value of agricultural products reached 16.9 billion USD, an increase of 11.5%. Agricultural products contribute 50.9% of total agricultural, forestry and fishery export turnover (total turnover is estimated at 33.21 billion USD)

The total export value of agricultural products is contributed by the export value of fruits and vegetables of 3.45 billion USD, an increase of 57.5%; rice 3.17 billion USD, up 36.1%; cashew nuts 2.23 billion USD, up 8.9%; coffee 2.94 billion USD, up 2.3%)

Regarding markets, in the first 8 months of 2023, China, the US and Japan continue to remain the three largest export markets of our country's agricultural products.

Regarding prices, there were generally no unusual fluctuations in August, and the supply of essential goods was guaranteed. Particularly, the price of paddy and rice continues to increase due to the impact of the world market, causing demand to increase, on average increasing by 200 - 800 VND/kg. Fruit prices in some southern provinces tend to increase due to reduced supply as the main season passes.

In the first 8 months of 2023, the Ministry of Agriculture and Rural Development has drastically removed obstacles and opened the market for Vietnamese agricultural products, even for the warehouse market; promote signing of new orders; coordinate to promote negotiations to diversify agricultural products officially exported to many markets.

Besides, there are still some limitations such as: total export turnover of agricultural, forestry and fishery products in the first 8 months of the year still decreased by 9.5% compared to the same period last year due to a deep decrease in the first months of the year.

The state's orientation on exporting Vietnamese agricultural products in the coming time

In the coming time, the Ministry of Agriculture and Rural Development will continue to monitor and grasp the price situation and supply of essential food items. Coordinate with localities to support connection and promote the processing and consumption of agricultural products during the harvest season.

Promote the development of domestic consumption and export markets. Continue to handle market issues to create favorable conditions for agricultural exports, especially to the markets of China, the US, the EU, the Eurasian economic union... Take advantage of FTAs, especially are the CPTPP and EVFTA Agreements to promote the export of agricultural products and support businesses in signing new export orders. Coordinate support for trademark and geographical indication protection for Vietnam's potential export products abroad.

WTPAgri - Your gateway to Vietnamese agricultural excellence

In the heart of Vietnam's agricultural export landscape, WTPAgri stands as a symbol of reliability and innovation. With dedicated experience, WTPAgri has firmly established itself as an outstanding company in the field of agricultural trade consulting. With a steadfast commitment to quality and a diverse portfolio, the company has brought trust to many foreign partners. In August 2023, the export turnover of the crop industry surged by 11.5% compared to the previous year, reaching an impressive 2.16 billion USD. This success is part of WTPAgri's broader story of elevating Vietnam's agricultural exports on the global stage. As the industry evolves, WTPAgri remains your trusted partner in navigating the dynamic world of agricultural trade.

If you are looking for a reliable partner to invest in the Vietnamese agricultural market, please contact us immediately. WTPAgri will ensure to bring you satisfaction during the cooperation process with the highest goodwill and quality.

Contact our team at crm@wtp.vn or call us at +84971279099. And remember that we can also provide tailored service if you need it.