Global Agriculture

Agro-product Exports in the First 3 Months Increased Nearly 100%

In the first three months of 2024, the agricultural sector achieved good growth, productivity and output of many key products increased, ensuring enough supply of food and essential goods, contributing to the overall growth of the economy.

01 April 2024, VN: The growth rate of agricultural, forestry and fishery production value in the first quarter of 2024 is estimated to reach 2.9 – 3% compared to the same period in 2023. Of which, crop production increases by 2.02%; livestock increased by 4.34%, aquaculture increased by 3.46%; Forestry increased by 4.11%.

Total agricultural, forestry and fishery export turnover is estimated at 13.53 billion USD, up 21.8% over the same period last year; Trade surplus was 3.36 billion USD, an increase of 96.5%.

March reached 4.85 billion USD, up 6% over the same period last year, including main agricultural products 2.75 billion USD (up 31.1% compared to March 2023), main forestry products 1.22 billion USD (down 0.3%), fisheries 653 million USD (down 14.6%), livestock 43.6 million USD (up 8.3%), production inputs 173 million USD (up 0.2%).

Overall, in the three months, all export commodity groups increased compared to the same period last year, so export turnover reached $13.53 billion USD. Specifically, agricultural products reached 7.46 billion USD, an increase of 31.1%; forest products 3.61 billion USD, up 18.8%; seafood 1.86 billion USD, up 1.9%; livestock 113 million USD, up 4.8%; production input 481 million USD, an increase of 8.3%. There were 4 items with an export value of over 1 billion USD: Wood 2.32 billion USD (up 26.8%); Vegetables and fruits 1.23 billion USD (up 25.8%); Rice 1.37 billion USD (up 40% with 2.07 million tons, up 12%); Coffee 1.9 billion USD (up 54.2% with 799 thousand tons, up 44.4%).

The average export price of rice products reached 661 USD per ton, an increase of 5%; coffee 2,373 USD per ton, up 6.8%, rubber 1,462 USD per ton, up 5.1%; pepper 4,153 USD per ton, an increase of 35.6%. Cashew nuts alone are 5,329 USD per ton, down 8.6%; tea 1,616 USD per ton, down 2.2%; fertilizer 412 USD per ton, down 9.1%…

Export value to all markets increased. Of which exports to Asia were 6.27 billion USD (up 16.6%); Americas 2.96 billion USD (up 27.2%); Europe 1.85 billion USD (up 34.8%); Oceania 188 million USD (up 22.9%) and Africa 192 million USD (up 21.6%). China, the United States and Japan continue to be the three largest export markets; Export value to China accounted for 20.2%, an increase of 18.3%; The United States accounted for 19.9%, an increase of 28.3% and Japan accounted for 7%, an increase of 4.6%.

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