FFA President: Not a time has agriculture sector been as thriving as it is now

Broad potential for agricultural exports

According to the Ministry of Agriculture and Rural Development, the export turnover for agricultural, forestry, and fishery products in March 2024 was USD 4.85 billion, up 6% over the same period last year. In the first three months of 2024, all export commodity groupings increased as compared to the same period last year, resulting in a total export turnover of USD 13.53 billion. Export commodities worth more than USD 1 billion include vegetables and fruits (USD 1.23 billion), rice (USD 1.37 billion), and coffee (USD 1.9 billion).

Among these, coffee had strong growth in the first three months of the year. In the first quarter of 2024, Vietnam shipped 799,000 tons of coffee, generating a record-breaking export turnover of USD 1.9 billion, an increase of 44.45% in volume and 54.2% in value over the same time in 2023.

Rice also experienced significant increase. In the first three months of 2024, Vietnam exported almost 2 million tons of rice, earning USD 1.37 billion, up 12% in volume and 40% in export turnover over the same time in 2023. Vietnam remains one of the world's top three rice exporters, alongside India and Thailand.

Export markets all reported an increase in export value. Exports to Asian countries totaled USD 6.27 billion (up 16.6%); the Americas, USD 2.96 billion (up 27.2%); Europe, USD 1.85 billion (up 34.8%); Oceania, USD 188 million (up 22.9%); and Africa, USD 192 million (up 21.6%).

Notably, Vietnam's three major export markets continued to witness a gain in export value: China (up 20.2%, or 18.3%), the United States (19.9%, or 28.3%), and Japan (7%, or 4.6%).

To attain these goals, numerous businesses have been aggressively investing in standard raw material locations, agricultural processing technology, and fostering trade relationships with foreign buyers. This has created significant economic value by not only meeting home consumption needs but also exporting to numerous places around the world.

Because to agricultural development, Vietnam's agricultural and processed food products are currently available in more than 190 nations and territories. Every year, various industries contribute more than USD 1 billion to Vietnam's agricultural export turnover, including vegetables and fruits, rice, cashews, coffee, and shrimp.

"Vietnam has a plentiful supply of agricultural raw materials, making it the world's leading supplier. In the first quarter of 2024, some processed seafood product groups had significant export increases.

Never before have rice and coffee farmers received such favorable prices. Despite droughts, Vietnam's agriculture sector has never been as prosperous as it is today. Mrs. Ly Kim Chi, President of the Ho Chi Minh City Food and Foodstuff Association (FFA), stated, "This is a fantastic opportunity for Vietnam's food and agricultural industry in general, and Ho Chi Minh City in particular, to break through in 2024."

Because of the diversity and excellent quality of agricultural products such as coffee, rice, cashews, and durian, Vietnamese businesses can leverage export opportunities in key markets such as the United States, the European Union, China, and Japan. This, together with the use of tariff rates in free trade agreements (FTA) and the optimization of the agricultural value chain through online platforms and international trade linkages, creates several potential for Vietnamese agricultural products.

Participate in global supply chains

The Ministry of Agriculture and Rural Development, the Ministry of Industry and Trade, and local governments have recently hosted several exhibitions and trade fairs to actively grow both domestic and export markets, improve competitiveness, and add value to Vietnamese firms. These events promote corporate relationships, information access, and the development of strategies for machines and sophisticated technologies in manufacturing processes, ultimately increasing competitiveness and product quality.

According to the Agricultural Trade Promotion Center (Ministry of Agriculture and Rural Development), in 2024, units will organize domestic fairs and events to support trade promotion activities, training, and product introduction, in addition to arranging for business delegations to attend international events. For example, the Gulfood Dubai 2024 Food and Beverage Fair in the UAE; the Foodex Japan 2024 International Food and Beverage Fair in Japan; the IFT Food 2024 International Food and Ingredient Fair in the USA; Food and Beverage Fairs in Singapore; international handicraft fairs in Japan; fairs in Guangdong Province, China; the Canton Fair Complex in Guangzhou, China; organizing activities to promote rural tourism in Vietnam in some European countries; and international OCOP

Regarding the Ministry of Industry and Trade, Mr. Ta Hoang Linh, Head of the European and American Market Department, stated that from June 6 to 8, the Ministry of Industry and Trade, in collaboration with the Ho Chi Minh City People's Committee, will organize the "Vietnam International Trade

At the local level, provinces and cities actively support trade promotion efforts. For example, the International Exhibition of Food and Foodstuffs 2024 will be held in Ho Chi Minh City from May 16th to May 18, bringing together many domestic and foreign firms. From April 22 to 2, Ho Chi Minh City collaborated with Binh Thuan Province to organize the "Week of Exhibition of Specialized Products and OCOP Products of Binh Thuan Province 2024" in Ho Chi Minh City. The event aims to help businesses, cooperatives, and production facilities in Binh Thuan Province promote and introduce typical agricultural industrial products, OCOP products, expand the domestic market distribution system, and boost exports.