Selling agricultural products to China, Vietnamese businesses must give up the seasonal habit

Published 2021년 9월 13일

Tridge summary

Vietnam's agricultural exports experienced a decline in August but showed overall growth in the first eight months of 2021. The country's main export markets, the US and China, continue to present significant growth opportunities. However, the industry faces challenges such as container shortages, increased freight rates, and difficulties in obtaining support credit and transporting agricultural products. The Ministry of Agriculture and Rural Development is taking steps to negotiate market opening and quality control measures with China, and is advocating for tax reductions and the development of a mechanism to allow social activities for individuals who have received the Covid-19 vaccine to maintain agricultural production and circulation.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In August, export turnover was estimated at nearly $3.4 billion, down 21.6% compared to August 2020 and down 22.0% compared to July 2021. Accumulated in the first 8 months of the year, total export turnover is estimated at 32.13 billion USD, up 21.6% over the same period last year. In which, the export of main agricultural products is estimated at over 13.9 billion USD, up 13.6%; main forest products reached about 11.2 billion USD, up 42.7%; seafood reached over USD 5.6 billion, up 7.1%; livestock production was estimated at 296 million USD, up 15.9%. The US is currently the number one export market for Vietnamese agricultural products. In 2020, the export of agricultural, forestry and fishery products to the US will reach US$11.1 billion, accounting for 26.2%. In the first 8 months of 2021, despite the negative impact of the Covid-19 pandemic, Vietnam's agricultural, forestry and fishery exports to the US achieved an impressive growth rate, reaching US$ 9.3 billion, up 47. 1% ...

Source: Danviet