International Business News – According to statistics from the Ministry of Agriculture and Rural Development of Vietnam, in the first six months of 2022, Vietnam’s planting industry accounted for 43.27% of the total value of agriculture, forestry and aquaculture; the export value was 11.37 billion US dollars, accounting for 40.8% of the total industry export value.
In the first half of 2022, Vietnam’s rice export volume was about 3.52 million tons, an increase of 16.2%; the export value was 1.72 billion US dollars, a year-on-year increase of 4.6%. In terms of price, the price of rice is still at a low level at present. Rice with 5% broken rice is priced at $420 a tonne, well below the $470 a tonne price in 2021. On the market side, stable demand from the Philippines, China, Africa and Cuba contributed to the export performance in the first six months of 2022. Rice exporters said they expect market demand to remain good in the second half of 2022.
In addition, in the first half of the year, the Ministry of Agriculture and Rural Development of Vietnam issued certificates for nearly 200 rice varieties that are exported to Europe with preferential tariff quotas. Vietnamese passion fruit, durian and other fruits can also be exported to China. The output and export value of some perennial cash crops have increased. For example, the output of pepper exceeded 280,000 tons, and the export value was 125,000 tons; the sales volume was US$566 million, and the export value increased by 14%.
Vietnam’s Ministry of Agriculture and Rural Development stated that the current epidemic is still complicated, the conflict between Russia and Ukraine has pushed up logistics costs, the prices of gasoline, fertilizers and raw materials have risen, and supply chain disruptions have put pressure on agricultural planting. In the future, Vietnam will promote the production of input raw materials; adjust the structure, improve quality and reduce production costs through the application of technology and digital transformation. The Ministry of Agriculture and Rural Development of Vietnam pointed out that climate change has brought challenges to national production, and each region should take the initiative to formulate specific production plans; at the same time, a working group should be set up to urge production to proceed as planned; while improving quality, it should also reduce costs to improve competitiveness.