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Trade Trends News
26-10-2023
In the first nine months of this year, Vietnam's agricultural exports to China reached a record $6.2 billion, including fruits, rice, cashew nuts and coffee.
According to the Ministry of Agriculture and Rural Development, durian exports alone were worth up to $1.5 billion.
Other major exports included rice worth $500 million, cashew nuts worth $434 million and coffee worth $101 million.
If forestry and fishery products are included, exports amounted to $8.71 billion, an increase of 16.7 percent.
Overall, the country exported $38.48 billion, down 5.1 percent, with China, the US and Japan as the three major markets.
Dang Phuc Nguyen, general secretary of the Vietnam Fruit and Vegetable Association, said the record exports of agricultural products to China were due to the recent signing of an export agreement between the two countries, under which certain fruits, such as durians and vegetables, can be exported through an official quota rather than through a quota. just the border trade that has taken place so far.
Nguyen Dinh Tung, CEO of the Vina T&TT Import and Export Service Trading Company, said Vietnam's durian exports to China could reach US$2 billion this year.
The ministry expects more record exports of agricultural products, especially fruits, in the fourth quarter as people spend more during the holiday season.
In the near future, Vietnam will export fresh coconuts to China under an official quota.
However, some Vietnamese products, such as dragon fruit, pomelo and longan, will have to compete fiercely with similar fruits grown in China and imported from other countries, Dong said.
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