TTO – The export of agricultural, forestry, and fisheries goods generated 36.3 billion USD in the first eight months of this year, with 7 groupings of products reaching export values of over 2 billion USD.
The export turnover of agricultural, forestry, and fisheries goods was projected at US$4.4 billion in August, up 32% from the same month the previous year, according to the Ministry of Agriculture and Rural Development. In which the primary group of agricultural products totals more than 1.8 billion USD, the primary group of forest products exceeds 1.4 billion USD, the primary group of aquatic products totals 893.8 million USD, the primary group of livestock totals 41.6 million USD, etc.
Export turnover in the first eight months was estimated to be close to USD 36.3 billion, up 13.1% from the same period last year. The export of primary agricultural products was estimated to be close to USD 15 billion, primary forest products to be close to USD 11.8 billion, seafood to be close to 7.5 billion USD, animal husbandry to be close to USD 258.6 million, and input production to be close to 1.7 billion USD.
Coffee, rubber, rice, vegetables, cashews, shrimp, and wood products were among the 7 items or product groupings with export values of over USD 2 billion in the first eight months of the year. Numerous commodities had significant price increases compared to the same time last year, including coffee (40%), pangasius (82%), shrimp (22%), and fertilizer (163%).
Despite exceeding 2 billion USD, numerous things declined over the same period, including produce down 13.9%, cashew nuts down 10%, timber down 3.4%, and livestock down 12.3%.
With over 9.6 billion USD (or 26.4% of the market) in exports last year, the US remained the top export market. With a market size of roughly 6.5 billion USD (or 17.8% of the market), China comes in second, followed by Japan and South Korea.
According to the Ministry of Agriculture and Rural Development, efforts have been made to improve online marketing and advertising for goods that have been opened for business and legally exported to important markets including China, the United States, and the United States. EU, Russia, and the Middle East’s perspective markets are actively exploited, as are those of Japan, Korea, ASEAN, Australia, and New Zealand.
Increase value and high-quality export items, such as popular fresh fruits like mango, dragon fruit, passion fruit, longan, and litchi that are already shipped to several nations, while also aggressively seeking new markets. Market expansion for livestock products,
The Ministry of Agriculture and Rural Development announced that it will conclude talks to open the market for longan shipped to Japan in September and the final months of this year.
Prepare well-informed technical paperwork, engage in active negotiations, and open the market for agricultural goods for official export to major markets like China (swallow’s nest, avocado, pomelo,…), Japan (longan, pomelo, passion fruit, export heat-treated poultry), Korea (shrimp, pomelo, custard apple, passion fruit, longan, litchi, rambutan, processed poultry, processed chicken eggs), America, and others (lemon, coconut),…
The agriculture industry targets an export goal of 55 billion USD for 2022. However, due to rising inflation in other nations and a decline in buying power, it is anticipated that the export of agricultural, forestry, and fisheries goods would encounter problems in the latter months of the year.
