Vietnam: Agricultural exports increased by 50%, the first 2 months of the year reached nearly 10 billion USD, rice prices peaked at 699 USD/ton

Market & Price Trends
Published Mar 2, 2024

Tridge summary

Vietnam's agricultural export turnover in February 2024 reached 4.48 billion USD, marking a 21.8% increase from the same period last year, with a total turnover of 9.84 billion USD in the first two months. Key export products such as wood, coffee, fruits and vegetables, rice, and cashew nuts all saw higher export values, with coffee and rice seeing significant price increases. Vietnam's coffee exports are predicted to reach a record high of 4.5 - 5 billion USD in 2024. Meanwhile, Vietnam's rice exports to the Philippines, a major importer, are expected to reach 1.75 billion USD in 2023, a 17.6% increase from 2022, amidst competition from Thailand.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Specifically, according to the latest report of the Ministry of Agriculture and Rural Development, agricultural export turnover in February 2024 reached 4.48 billion USD, up 21.8% over the same period last year and down 16.5%. compared to January 2024. Of which, main agricultural products reached 2.34 billion USD (up 21.6% compared to February 2023), main forest products reached 1.34 billion USD (up 40.3%), and aquatic products reached 620 million USD (up 1.9%), livestock 34 million USD (up 6.2%), production inputs 142 million USD (down 7.4%). In the first 2 months of the year, all export commodity groups increased compared to the same period last year, so export turnover increased, reaching 9.84 billion USD. Achieving this encouraging figure is because most key export products achieved higher export value than the same period last year. For example, wood products reached 1.68 billion USD (up 59%), coffee reached 1.38 billion USD (up 85%). Fruit and vegetable group reached 970 ...
Source: Danviet
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