Eight groups of agricultural products with over 2 billion USD in export value

According to the Ministry of Agriculture and Rural Development, the total import-export turnover of agricultural, forestry and fishery products in the first 11 months of 2022 reached approximately 90.26 billion USD, which is an increase of 9.5% over the same period in 2021. Most notably, the export of agricultural products reached 49.04 billion USD, an increase of 11.8%; imports reached 41.22 billion USD, an increase of 6.9%; trade surplus reached 7.82 billion USD, an increase of 47.8%. Subsequently, the export value of agricultural products in the first 11 months of 2022 has surpassed the 2021 record figure of 48.6 billion USD.

The export turnover of agricultural, forestry and fishery products in November 2022 was estimated at over 4.27 billion USD, a decreaes of 4.8% compared to November 2021 and 0.2% compared to October 2022. Namely, the export of main agricultural products was 2.13 billion USD, an increase of 10.3% compared to November 2021; main forest products reached 1.2 billion USD, down by 15.2%; aquaculture products reached 750 million USD, down by 17.5% and animal husbandry products reached 31.7 million USD, down by 13.5%.

Throughout the first 11 months of 2022, the main group of agricultural products reached over 20.73 billion USD in export value, an increase of 6.6%; main forest products reached15.59 billion USD, an increase of 8.2%; aquaculture products reached 10.14 billion USD, an increase of 27%; livestock products reached 361.4 million USD, a decrease of 8.4%; production input reached over 2.2 billion USD, an increase of 38.1%.

So far, there are 8 agricultural products and product groups that have reached an export value of over 2 billion USD, including coffee, rubber, rice, vegetables, cashews, shrimp, pangasius, and wood products.

Many products have achieved a higher export value compareed to the same period in 2021, namely: coffee reached 3.5 billion USD, an increase of 31.5%; rubber reached over 2.9 billion USD, an increase of 3%; rice reached over 3.2 billion US, an increase of 6.9%; pepper reached 895 million USD, an increase of 3.2%; cassava and cassava products reached over 1.2 billion USD, an increase of 16.4%, pangasius reached 2.2 billion USD, an increase of 62%, shrimp reached 4.1 billion USD, an increase of 14.6%, timber and other wood products reached 14.6 billion USD, an increase of 9%.

In terms of export markets, Asian markets account for 44.7% of the market share, the United States 27.4%, Europe 11.3%, Oceania 1.7% and Africa 1.7%. The United States continues to be the largest export market, reaching 12.3 billion USD in export value, accounting for 25% of the market share; followed by China at nearly 9.3 billion USD, accounting for 18.9% market share. The third largest export market is Japan with a value of 3.9 billion USD, accounting for 7.9%.

According to Minister Le Minh Hoan, although the agricultural sector has not achieved the desired expectations, and many challenges remain, the results of the first 11 months of 2022 extremely encouraging.

Regarding outlook for the market towards the end of the year, Minister Le Minh Hoan said that the growth of agricultural products increases sharply every November and December due to the high demand as a result of the year-end festival.

However, due to the 2022 global inflation, overall consumption will decrease, and the market will be less active. Consequently, the Minister suggested the agricultural sector prepare and be proactive in face of the difficulties forecasted in late 2022 and early 2023.

Outlook for the agricultural sector in 2023 is challenging

At the meeting summarizing the results of November and the first 11 months of 2022, and implementing the tasks assigned by the Ministry of Agriculture and Rural Development in December 2022, Deputy Minister Phung Duc Tien remarked that although the agricultural sector achieved great results in 2022, the current world economic will cause considerable challenges in 2023.

Deputy Minister Phung Duc Tien noted that with the current global situation, the agricultural sector needs primarily focus on preventing food shortages, which can lead to social instability.

“In addition to plant protection, the veterinary field in 2022 has secured production safety. Most notably, the value of pig production has increased by 12.4%, poultry production by 5.4%, beef cattle production by 3.5%. It is necessary to encourage the participation of businesses in promoting exports and sectoral restructuring", Deputy Minister Phung Duc Tien emphasized.

According to Deputy Minister Nguyen Hoang Hiep, the Politburo has issued Conclusion No. 36-KL/TW dated June 23, 2022 on water security and safety of dams and reservoirs until 2030, with a vision towards 2045. The General Department of Water Resources is recommended to speed up the implementation of the key tasks under the action plan on water security and relevant issues.

“Additionally, the General Department of Irrigation also needs to issue a report on the water situation in 2023 at least 6 months in advance. On the other hand, the Department needs to make a decision regarding the situation of drought and salinity in the Mekong Delta as well as utilizing water in the winter-spring crop production; so that an production plan can be promptly established", noted Deputy Minister Nguyen Hoang Hiep.