Export market

Harvesting dragon fruits for export in Long An Province. Việt Nam hopes to be allowed official export of dragon fruit to China this year. — VNA/VNS Photo China is the largest export market of Vietnamese fruits and vegetables, accounting for nearly 65 per cent of the total fruit and vegetable export value, according to Đặng Phúc Nguyên, general secretary of the Việt Nam Fruit and Vegetable Association. Besides durian, Việt Nam hopes to be granted official export permission for jackfruit and dragon fruit to this market from now to the end of this year. With increasing quality, Vietnamese fruits are popular among Chinese consumers. The fruit exports are forecast to maintain growth, especially with increasing demand during the holiday season. Last year, Việt Nam signed fruit protocols with China, bringing many advantages to Việt Nam's fruit and vegetable export activities. Phùng Đức Tiến, Deputy Minister of Agriculture and Rural Development, said that Việt Nam would continue … [Read more...] about China is the largest export market of Vietnamese fruits and vegetables

Vietnam exported wood and woodworking products worth over US$1.1 billion in August, showing positive signs of recovery after dropping steadily earlier, according to the General Department of Vietnam Customs. This marks a 10-percent rise from the July figure, which stood at more than $1 billion. Speaking at the opening ceremony of the 15th Vietnam International Woodworking Industry Fair held in Ho Chi Minh City on Wednesday, vice chairman of the Ho Chi Minh City Handicrafts and Wood Industry Association Phung Quoc Man attributed the increase to several positive trends observed in the global wood export market. In particular, there is a gradual decline in inflation in the U.S., a better consumer need, a reduction in furniture stockpiles, and a rebound in the construction sector. Man said Vietnam is the world’s fifth largest exporter of wooden products and has substantial demand for woodworking machinery and components. Imports of such machinery have topped US$240 million a … [Read more...] about Vietnam’s wood exports surpass $1.1bn, signaling recovery

Packaging coconut for export. Việt Nam achieved a coconut export turnover of US$700 million in 2022. —VNA/VNS Photo Huỳnh Phúc Hậu Việt Nam is optimistic about increasing its coconut exports as several countries are welcoming Vietnamese coconuts. The US, Bangladesh, and Israel have opened their markets to fresh coconuts from Việt Nam. Additionally, Vietnamese durian products will not be subjected to quotas when exported to Japan and South Korea. There's a possibility that China will soon officially permit the import of coconuts from Việt Nam. These favourable shifts in the export markets are motivating coconut farmers to enhance their plantations and collaborate with enterprises to boost coconut exports. Following the US's green light to import Vietnamese coconuts, Nguyễn Đình Tùng, the general director of Vina T&T Group Import-Export Company, reported that they have already shipped four containers of the fruit to the US market. Tùng stated that Việt Nam possesses … [Read more...] about Việt Nam sees many opportunities in coconut exports

Illustrative photo (Photo: VNA) Hanoi (VNA) – Vietnam’s coffee exports in the third quarter of this year will slow down because supply is no longer abundant, according to the Agency of Foreign Trade under the Ministry of Industry and Trade. However, the exports will benefit from prices because the world's consumer tastes tend to shift to Robusta coffee. In the 11 months of the 2022 - 2023 crop year from October 2022 to August 2023, Vietnam exported more than 1.6 million tonnes of coffee, a decrease of 2% compared to the same period of the previous crop year. The output in this crop is forecast to be only about 1.5 - 1.6 million tonnes, down 10 - 15% compared to the 2021-2022 crop. There is not much coffee for export now. The supply is expected to improve from November until the new harvest season 2023-2024. However, low inventories pushed export coffee prices in August to a new record of 3,054 USD per tonne, up 8% over the previous month and up 30% compared to the same … [Read more...] about Vietnam’s coffee exports to slow down in Q3

An investor watching the market's movements on her cellphone at an office of Bảo Việt Securities Company. — VNA/VNS Photo The Vietnamese stock market logged the second straight weekly fall last week, with the VN-Index breaking below the key psychological level of 1,200 points. The bearish trend is expected to extend this week, said experts. On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index only gained on September 20 and lost for the rest of last week. The index closed the week at 1,193.05 points. Similarly, the HNX-Index on the northern bourse, the Hà Nội Stock Exchange (HNX), experienced the same trend and was last traded at 243.15 points. For the week, both benchmark indices posted a weekly loss, with the former down 2.8 per cent and the latter down 3.8 per cent. Liquidity on the two main exchanges also declined over the previous session. In particular, on HoSE, liquidity slid 11.1 per cent in value to VNĐ118.5 trillion (US$4.86 billion), while it decreased 5.5 per … [Read more...] about Market may continue trading negatively this week: experts

A farmer in Ea Kao, Buôn Mê Thuột City, harvests coffee beans. Japan is currently Việt Nam's fourth-largest export market. — VNA/VNS Photo Việt Nam's coffee exports to Japan are displaying positive trends, buoyed by rising selling prices amidst Japan's reduced coffee imports from global sources. According to data from the General Department of Customs, in August, Việt Nam shipped 9,100 tonnes of coffee to the Japanese market, valued at US$28.5 million. This marked a 3.1 per cent decrease in volume and a 2.3 per cent dip in value compared to July 2023, but a notable increase of 6.5 per cent in volume and a 37.6 per cent rise in value compared to August 2022. In August 2023, the average export price of Vietnamese coffee to Japan reached $3,132 per tonne, up 0.9 per cent month-on-month and a significant 29.3 per cent surge compared to August 2022. Over the first eight months of 2023, Việt Nam's coffee exports to Japan amounted to more than 78,700 tonnes, worth $218.9 million, … [Read more...] about Việt Nam’s coffee exports to Japan surge amid import slow

According to the Ministry of Industry and Trade, 72 countries recognize Vietnam as a market economy, including Canada, Australia, Japan, and South Korea. The UK did so recently with an official letter to the effect. Speaking to VnExpress , a Trade Remedies Authority Department official said since its first anti-dumping investigation case against Vietnam in 2002 the U.S. had been considering the country a non-market economy. In a meeting with the U.S. Secretary of Commerce Gina Raimondo in Washington last Tuesday, Prime Minister Pham Minh Chinh proposed the U.S. to soon recognize Vietnam’s market economy status . The need for recognition of Vietnam's market economy status was also in the joint statement between General Secretary Nguyen Phu Trong and President Joe Biden on upgrading the two countries' relations to a Comprehensive Strategic Partnership. The EU also sees Vietnam as a non-market economy. In 2015, while free-trade agreement negotiations were underway, the EU … [Read more...] about Significance of Vietnam being a market economy

Vietnam expects to earn 10 billion USD from exports of aquatic products in 2023 (Photo: Vietnam Plus) Hanoi (VNA) – Vietnam's aquatic and forestry exports are likely to rebound and realise the targets set for 2023 in the remaining months of the year, thanks to signs of gradual recovery from export markets. If the two sectors complete their yearly plans, the agro-forestry-aquatic export goal of 54.55 billion USD in 2023 is certain to be fulfilled, said an official from the Ministry of Agriculture and Rural Development (MARD). According to the ministry’s statistics, Vietnam earned 29.13 billion USD from agro-forestry-aquatic product exports in the first seven months of 2023, down 9.1% year-on-year. Notably, the agricultural export value reached nearly 14.99 billion USD, increasing by 13.2%. This growth is attributed to the increases in the export value of vegetable and fruit , rice, cashew nuts, and coffee, rising by 68.1 %, 29.6%, 9.8%, and 6%, respectively. … [Read more...] about Vietnam strives to hit agro-forestry-aquatic export targets

There has been shrinking demand for exports in many of Vietnam’s key markets, photo Le Toan The most updated figures from the Ministry of Industry and Trade (MoIT) show that Vietnam’s goods export turnover in August reached $32.4 billion, up 7.7 per cent on-month. Vietnamese exporters raked in $8.43 billion, up 8.7 per cent, and foreign exporters fetched $23.9 billion, including crude oil exports, up 7.3 per cent. This hints at domestic exporters performing better than foreign ones. “August is the month with the highest export turnover over the past year, and it has marked the fourth consecutive month with export growth,” said Deputy Minister of Industry and Trade Phan Thi Thang. Vietnam’s export turnover has been bouncing back, at $27.86 billion in May, $29.4 billion in June, and $30 billion in July. It is expected that the export situation will continue improving from now until the year’s end, with global demand for exports to increase on the back of the Christmas period, … [Read more...] about Export boost paramount for recovery

Wood product packaging for export (Photo: VNA) Binh Duong (VNA) – The southern province of Binh Duong's export turnover went down by 13% year-on-year to 23 billion USD in the first nine months of this year as its key exports faced difficulties due to lack of orders . According to the provincial People’s Committee, its traditional export markets all reported decreases compared to those in the same period last year. Notably, the US, which accounts for 34.4% of Binh Duong’s exports, recorded a year-on-year decline of 16.8%, the EU 3.4%, Japan 20.2%, China 7.7%, and the Republic of Korea 8.7%. The declines were attributed to a fall of 20-50% in orders received by local businesses. Although rosy signs were seen at the end of the third quarter, the number of new orders remained modest. Over the past time, Binh Duong has actively coordinated with the Ministry of Industry and Trade and Vietnam trade offices abroad to carry out a lot of trade promotion programmes. … [Read more...] about Binh Duong’s key exports lack orders