The Ministry of Agriculture and Rural Development (MARD) reported that agricultural export revenue in May 2024 reached USD 5.06 billion, up 11.2% year-over-year. Rice, fruits and vegetables, coffee, wood, and wood products have maintained stable growth, pushing the total export revenue of the sector to over USD 24 billion.

For the first five months, most commodity groups experienced growth, with total export revenue reaching USD 24.14 billion. Specifically, agricultural products totaled USD 13.11 billion (up 27.7%); forestry products USD 6.58 billion (up 22.7%); seafood USD 3.5 billion (up 3.6%); and livestock USD 199 million (up 5.6%).

Key commodities showed positive signals: wood and wood products USD 6.14 billion (up 23.6%); coffee USD 2.9 billion (up 44.1%); rice USD 2.65 billion (up 38.2%); cashew nuts USD 1.55 billion (up 19.3%); fruits and vegetables USD 2.59 billion (up 28.1%); and shrimp USD 1.3 billion (up 7.5%).

One of the impressive export categories in the past five months has been wood and wood products, with May’s revenue increasing by 22.8% compared to the same period in 2023. MARD expects robust growth in this sector due to recovering demand in major markets, with a projected target of USD 17.5 billion for 2024.

Annually, the demand for wooden furniture typically spikes in the fourth quarter due to festive seasons, which drives replacement cycles and completes housing markets.

The top three export markets—America, China, and Japan—remained strong, with exports to the US accounting for 20.6%, China 19.2%, and Japan 6.7%.

Thanks to consistent and proactive guidance from MARD in market signal exploitation, average export prices for many agricultural products have increased. For example, rice prices rose to USD 638/ton (up 20.5%); coffee to USD 3,482/ton (up 49.9%); rubber to USD 1,504/ton (up 8.8%); and pepper to USD 4,308/ton (up 39.3%).

Provided there are no unusual weather, natural disasters, or disease outbreaks, production of rice, vegetables, and fruits is expected to meet planned areas, yields, and volumes. Specifically, rice for export is estimated to reach around 7.6 million tons.

Regarding production results, MARD reported that after five months, the country has planted 4.22 million hectares, a 1% decrease from the previous year, but with an average yield of 6.76 tons/hectare, up by 1.2 tons/hectare. The total production from harvested areas is 17.8 million tons, a 2% increase.

MARD is closely collaborating with local authorities, international organizations, and businesses to implement the Sustainable Development Plan for 1 million hectares of high-quality low-emission rice and green growth in the Mekong Delta by 2030.

Forest fire prevention efforts are focused, particularly in high-risk areas like the Northwest, Central Highlands, and Southern regions. In May, forest area damage was 204.9 hectares, a 42% decrease, and for the first five months, 652.3 hectares, a 27% decrease from the same period last year.

MARD is also directing local authorities to implement Directive No. 32-CT/TW dated April 10, 2024, from the Central Committee and the Government’s action plan to enhance the Party’s leadership in combating illegal, unreported, and unregulated (IUU) fishing and sustainably developing the seafood industry. The national plan for 2021-2030 on the protection and exploitation of aquatic resources has been approved by the Prime Minister.

Source: Vietstock