Vietnam's rice, fruits, vegetables exports saw remarkable growth in Q1

 Vietnam's economy is continuously growing at very rapid speed. Vietnam's exports are continuously booming. A noticeable amount of increase was observed in Vietnam's agri exports. During the first quarter of FY 2023, Vietnam's rice, vegetables and fruits exports to China saw a considerable amount of growth. 

One of the major agricultural exports of Vietnam was rice. It is among the top 5 leading rice exporters in the world. Over the years, Vietnam's rice exports have seen an upward trend. According to the Vietnam import export data, Vietnam's rice exports were $2.9 Billion in 2021 while it rose to $3.4 Billion in FY 2022. 

Further during the first seven months of the fiscal year 2023, Vietnam had made over 4.5 million metric tonnes worth rice shipments. As per Vietnam customs data records, Vietnam's rice exports sum up to $2.4 billion with an increase of 17% as compared to the same period of FY 2022.

The major markets for Vietnam's rice exports are China, Philippines, Ivory Coast, Ghana, Malaysia, Singapore, Hong Kong, South Korea, etc. Recently, there was around a 34% surge in Vietnam's rice demand from China. Whereas per Vietnam import data, the country's rice imports were estimated around $849 million in 2022. In which Cambodia and India had the majority of share, 56% and 38% respectively. 

Recently, India had imposed a ban on the rice exports to fulfil domestic market demand. This could lead to more demand for Vietnamese rice in the global market. On seeing the current performance of Vietnam's rice exports, the overall exports could yield more than 4 billion dollars in 2023. As per Experts, Vietnam can ship over 7.5 MMT of rice by the end of 2023.

Another major growing export commodity in Vietnam were fruits and vegetables. On analyzing the Vietnam export data, there was around 60% increase in the exports of fruits and vegetables from Vietnam. The major fruits exports from Vietnam include bananas, durian, jackfruit, tropical fruits, etc. 

China and Laos have emerged as the top buyers of fruits and vegetables from Vietnam. In 2023, Vietnam's fruits and vegetables exports were estimated around 1.5 billion dollars with an overall increase of 20% as compared to previous year.

Vietnam's tropical fruits exports were up by significant value. The tropical fruits exports from Vietnam reached 250 million dollars in 2022. The major destinations for Vietnam's tropical fruits exports were China, South Korea, Russia, United States and United Arab Emirates.

Vietnamese to expand its fruits exports by 2025. The plan is to achieve 5 billion dollars worth of fruits exports by 2025 and 6.7 billion dollars worth fruits exports by 2030. Vietnam is focusing on expanding its production for most exported fruits including mango, banana, lychee, dragon fruit, orange, longan, pomelo, rambutan, pineapple, custard apple, etc.

Through an expert trade intelligence platform like Exim GTIS, Vietnamese agri business owners can double their sales from the international market. Exim GTIS is the leading market research database with import export data reports of over 200+ countries. 

It provides in-depth and accurate global import export information of the global agri business industry. You can discover top traded food items in the global market. And discover top genuine importers. You can analyze their buying behaviour and convert them into your prospects. It is the most affordable yet powerful research tool that could give you a competitive edge and drive more revenue.