Vietnam earns US$1.4 billion from rice exports in Q1
Vietnam is targeting $5 billion in rice exports this year. The country currently ranks third in the world in terms of rice exports.
Vietnam is targeting $5 billion in rice exports this year. The country currently ranks third in the world in terms of rice exports.
China's opening of its market to Vietnamese watermelon, frozen and processed fruits is expected to boost Vietnam’s total export turnover of farm produce to US$6.5 billion this year.
Hanoi has drawn up a plan to develop Japonica rice production and high-quality rice to meet export standards.
By the end of 2023, Vietnam had 11,054 One Commune One Product (OCOP) items, exceeding the 10% target set for 2021-2025.
The plan seeks to enhance livestock processing methods, bolster food safety measures, diversify product offerings, and broaden market and export prospects.
Vietnam’s export growth is likely to accelerate further thanks to a favorable base effect in the last two months of the year.
The development of handicraft products for export is a key policy of Hanoi, as they are a source of revenue growth.
High demand from the Chinese market and the repercussions of droughts and floods in various countries prompted an increased import of Vietnamese fruits and vegetables.
Vietnam had exported 4.83 million tons of rice by the end of July, amassing US$2.6 billion in revenue.
The move could further cement Vietnam's growing presence in the global food supply chain.
El Niño has resulted in increasing rice imports from Vietnam, enabling the country to reap US$2.32 billion in the first half.
The seedless lychee fruit is currently only available for sale in Hanoi and Ho Chi Minh City.
MSMEs in Vietnam are poised to reap significant benefits from the rapid growth of the e-commerce sector.
The Southeast Asian country holds tremendous potential to be a global trading hub.
Fruit and vegetable processors are urged to adopt advanced technologies to improve export value.
In line with the direction of sustainable development and meeting international requirements for circular economy, the regional linkage strategy between Ho Chi Minh City and other provinces and cities aims at green exports.
Vietnam's exports peaked in 2020, accounting for 82% of the country's total GDP.