AGRICULTURAL SECTOR:

Grains, rice, coffee beans, cashew nuts,...

1. Sector Overview
2. EU Regulations
3. Recent Happings

A. Sector Overview

VIETNAM AGRICULTURE EXPORT GROWTH

Vietnam's agricultural sector performed strongly in the first nine months of 2024, achieving a total export value of $46.28 billion, a 21% increase year-on-year. This resulted in a trade surplus of $13.86 billion, a substantial 71.2% increase. Key export sectors saw significant growth:

• Wood and forest products: Exceeded $12.4 billion, up 20.3%.
• Fruits and vegetables: Reached a record $5.6 billion, up nearly 34%, and projected to surpass $6 billion by year-end.
• Coffee: Exported over 1.1 million tons, generating $4 billion, a 30% value increase despite a slight volume decrease.
• Rice: Exports reached $4.37 billion (up 23.5%) with over 7 million tons shipped (up 9.2%), and projections suggest over 9 million tons will be exported by the end of 2024.

The US became the largest importer of Vietnamese agricultural products ($9.72 billion), followed by China ($9.26 billion) and Japan (over $3 billion). Exports to all three markets grew by 10-20% compared to the same period in 2023. This success is attributed to government initiatives promoting exports to major markets and active efforts to secure new trade deals.

B. EU Regulations

NEW EU FOOD SAFETY REGULATIONS POSE CHALLENGE FOR VIETNAMESE AGRICULTURAL EXPORTS:

Starting in 2025, Vietnamese agricultural exports to the EU will face significant challenges due to stricter food safety regulations, including drastic reductions in maximum residue levels (MRLs). Key exports like coffee, pepper, and vegetables will be heavily impacted, necessitating improved production technologies and quality control.