The Ministry of Agriculture and Rural Development (MARD) reported that the agricultural export turnover in May 2024 reached $5.06 billion, up 11.2% compared to the same period last year. Rice, fruits, coffee, wood, and wood products have maintained stable growth, helping the total sector turnover exceed $24 billion.

In the first five months, most commodity groups saw increases, with total export turnover reaching $24.14 billion. Specifically, agricultural products accounted for $13.11 billion, up 27.7%; forestry products $6.58 billion, up 22.7%; seafood $3.5 billion, up 3.6%; and livestock $199 million, up 5.6%.

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

One of the most impressive export groups in the past five months has been wood and wood products. In May alone, turnover increased by 22.8% compared to May 2023. MARD expects that due to recovering demand in major markets, the export of wood and wood products may achieve the target of $17.5 billion for 2024.

Traditionally, market demand, especially for wooden furniture, tends to increase significantly in Q4, the festive season with cyclical replacement of furniture and completed housing markets.

The three largest export markets, the United States, China, and Japan, continue to be maintained, with the value of exports to the U.S. accounting for 20.6%; China 19.2%; and Japan 6.7%.

Additionally, due to consistent and proactive directives from MARD in exploring market signals, the average export prices of many agricultural products have increased. Notable examples include rice at $638/ton, up 20.5%; coffee at $3,482/ton, up 49.9%; rubber at $1,504/ton, up 8.8%; and pepper at $4,308/ton, up 39.3%.

If there are no abnormal weather events, natural disasters, or diseases until the end of the year, rice and fruit production should meet planned targets in terms of area, yield, and output. The quantity of commercial rice for export is expected to reach about 7.6 million tons.

Regarding production results, MARD reported that after five months, the country has planted 4.22 million hectares, a 1% decrease compared to the same period last year, but with an average yield of 6.76 tons/hectare, up 0.12 tons/hectare. Production from harvested areas reached 17.8 million tons, up 2%.

Currently, MARD is working closely with localities, international organizations, and businesses to implement the Sustainable Development Project of 1 million hectares of high-quality, low-emission rice cultivation associated with green growth in the Mekong Delta region by 2030.

Forest fire prevention has been emphasized, particularly in high-risk areas such as the Northwest, Central Highlands, and Southern regions. The forest area damaged in May was 204.9 hectares, down 42%, with a cumulative total of 652.3 hectares in the first five months, down 27% compared to the same period last year.

MARD has also directed and urged localities to implement Directive No. 32-CT/TW dated April 10, 2024, of the Party Central Committee and the Government’s action plan and plan on enhancing the Party’s leadership in combating Illegal, Unreported, and Unregulated (IUU) fishing and sustainably developing the fisheries sector. The National Planning Period 2021-2030 for the protection and exploitation of aquatic resources has been approved by the Prime Minister.

Source: Vietstock