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The agricultural sector keeps the export target at USD 40 billion despite the complicated developments of Covid-19

12/08/2020

According to information of the Ministry of Agriculture and Rural Development, rice exports in the first seven months of 2020 reached nearly 4 million tons, worth USD 2 billion. Currently, Vietnam is the country with the 2nd highest rice export volume and value in the world in the context of the global fight against the Covid pandemic.

The Ministry of Agriculture and Rural Development has just sent a document to the Ministry of Planning and Investment, emphasizing that the industry's export target for this year remains USD 41 billion, despite complicated global developments of the Covid-19 pandemic.

According to the document of the Ministry of Agriculture and Rural Development, the rice production in the first months of 2020 is still guaranteed and maintained as in the same period in 2019.

Rice exports in the seven months reached nearly 4 million tons, worth USD 2 billion, decreased by about 1.5% in volume over the same period, but increased by about 11% in value of revenue. Currently, Vietnam is the country with the 2nd highest rice export volume and value in the world in the context of the global fight against the Covid pandemic.

In terms of food production, all food groups increased, from poultry, beef to seafood.

Particularly for dairy products, China has officially licensed two enterprises to export through official channels to the Chinese market (will coordinate to soon license 4 more enterprises) and by 2020, Vietnamese dairy products will be exported to over 50 countries, including high-end markets such as the United States, Korea, EU, China, etc.

Agricultural product exports in the first seven months reached USD 22.3 billion (down 2.8% over the same period) but with a huge surplus of USD 5.2 billion (an increase of 3.8% over the same period). In this report, the Ministry of Agriculture and Rural Development emphasized that, if with high level of efforts and no major changes in the world situation, there is a high possibility of achieving the export target of over USD 40 billion (USD 40- 41 ​​billion).

The Ministry of Agriculture and Rural Development expects that by 2020, the growth of the whole industry will strive to reach 2.6 - 3%, of which, agriculture will increase by 2.85%; seafood increased by 3.0%; forestry increased by 2.57%.

The Ministry of Agriculture and Rural Development also forecasted that in the upcoming time period, there will be huge challenges and difficulties. One of the leading causes is the impact of the Covid-19 epidemic globally, including Vietnam.

In addition, unpredictable weather events, especially the upcoming rainy season, will continue to threaten production and life; The consumption market for agricultural products amid the impact of the Covid-19 pandemic will be much more difficult for the whole exporting sector.

In the upcoming period, the Ministry of Agriculture and Rural Development will pay more attention to strongly developing export markets. In addition to traditional markets, attention will be paid to expanding potential markets; limiting dependence on a number of markets.

 

Kylie Nguyen

© 2019 Vietnam Bank for Agriculture and Rural Development No. 2 Lang Ha street, Ba Dinh district, Hanoi, Vietnam
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