
Vietnamese Agricultural Exports: Breaking Records in 2024
Vietnam’s agricultural industry is witnessing an unprecedented surge in exports, with several billion-dollar items breaking records in 2024. According to the Ministry of Agriculture and Rural Development (MARD), the total export turnover for the first 11 months of 2024 reached an impressive $56.74 billion, a 19% increase compared to the same period in 2023.
A Snapshot of Vietnam’s Export Achievements
Vietnam is increasingly asserting its position as a leading player in agricultural exports, supported by a diverse product portfolio, robust growth, and strategic initiatives. The nation’s ability to adapt to global market demands and maintain high standards has helped it stand out in the competitive agricultural landscape. The agricultural sector recorded significant gains across multiple categories:
- Agricultural Products: $29.78 billion, up 23.2%
- Livestock Products: $475.5 million, up 4.4%
- Fisheries: $9.2 billion, up 11.8%
- Forestry Products: $15.59 billion, up 19.6%
Key export items such as fruits, rice, coffee, and pepper are leading the charge, solidifying Vietnam’s position as a major agricultural powerhouse.
🍎 Fruits and Rice: Leading the Billion-Dollar Club
Fruits and Vegetables
In the billion-dollar agricultural segment, fruits and vegetables maintain their lead. In November alone, fruit and vegetable exports reached $500 million, pushing the 11-month total to $6.66 billion, up 28.2% year-on-year.
- China dominates as the largest importer, accounting for 66.5% of Vietnam’s fruit and vegetable exports, valued at $4.1 billion.
- Exports to Germany saw the highest growth at 73.6%.
Vietnam’s durian exports have been a game-changer, particularly during off-seasons when global competition is minimal.
Rice Exports
Vietnam’s rice exports have reached 8.5 million tons, generating $5.31 billion, a 22.4% increase in value compared to 2023. The average export price for rice rose to $627.9/ton, reflecting global demand for high-quality Vietnamese rice.
☕ Coffee and Pepper: Value Over Volume
Coffee – The “Brown Gold”
Despite a 15.4% decrease in export volume, coffee exports generated $4.84 billion, a 32.8% increase in value.
- The average price soared to $4,037/ton, a staggering 56.9% increase.
- Major growth markets include Malaysia and the Philippines, with exports doubling in value.
The coffee market remains sensitive to global policies, particularly the EU’s upcoming deforestation regulation (EUDR), which could impact supply chains in 2025.
Pepper – The “Black Gold”
Pepper exports also saw a 4.4% drop in volume but a 46.5% increase in value, reaching $1.22 billion.
- Average export prices rose to $5,198/ton, driven by strong demand in the US, Europe, and the Middle East.
- Despite a dip in Chinese demand, the market is optimistic for a rebound in 2025.
🔮 Future Opportunities for Vietnam’s Agricultural Exports
Vietnam’s strategic positioning in global markets continues to shine, supported by favorable trade agreements like the EVFTA and UKVFTA.
Key growth areas include:
- Expanding organic farming to meet international quality standards.
- Diversifying product offerings for premium markets in Europe, the US, and Asia.
- Strengthening supply chains to meet evolving regulations such as EUDR.
With agricultural exports contributing to a $16.46 billion trade surplus in 2024, Vietnam is set to achieve new heights in the global market.
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