agriculture

Pakistan remained Vietnam’s largest tea export market, importing US$9.98 million in November, a sharp decrease of 23.93 percent compared to October.

Year-to-date rice exports reached US$5.30 billion, with the Philippines being the top destination, accounting for US$2.47 billion. However, exports to the Philippines saw an 8.38 percent decline compared to October.

Cambodia emerged as the top importer, purchasing US$22.14 million worth of fertilisers, despite a slight drop of 4.51 percent from October. South Korea followed, with imports surging by 36.02 percent to US$9.33 million.

Year-to-date exports totalled US$6.62 billion, driven primarily by strong performance in China, which accounted for US$4.33 billion. Thailand showcased notable growth, with a 51.04 percent month-on-month increase, while other key markets like Taiwan and the Netherlands recorded steep declines of 21.36 percent and 24.90 percent, respectively.

China remained the dominant importer, accounting for US$85.65 million, a 21.93 percent increase from the previous month.

Year-to-date (YTD), the sector has attracted a total of 11 new projects and US$94.7 million in newly registered capital, reflecting solid growth for the year.

Year-on-year, the sector saw growth of 18.63 percent in November 2024 compared to the same month in 2023. Over the first 11 months of the year, the IPI recorded an increase of 17.23 percent compared to the same period last year, marking it as one of Vietnam’s fastest-growing industries.

Food and food services play a central role in Vietnam’s economy, with the sector contributing significantly to household expenditure and national GDP. The country’s diverse agricultural base supports a wide range of food products, catering to both domestic consumption and export markets.

Despite the October dip, year-to-date performance remains robust. From January to October, Vietnam exported 7.75 million tonnes of rice, generating US$4.86 billion in export value. This marks a 10.1 percent increase in volume and a 23.5 percent rise in value compared to the same period in 2023, reflecting higher global rice prices.

Year-to-date figures show mixed results. From January to October, Vietnam exported 218,732 tonnes of pepper, a 3 percent decline in volume compared to the same period in 2023. However, the export value surged by 47 percent, reaching US$1.11 billion, reflecting higher global pepper prices.

From January to October, Vietnam exported 2.09 million tons of manioc and manioc products, valued at US$955.41 million. This represents a 12.7 percent decrease in volume and a 7 percent drop in value compared to the same period in 2023.

The sector saw a 5.8 percent dip in October compared to September, likely attributable to some residual impacts of Typhoon Yagi earlier in the year–compared to October 2023, the industry showed remarkable resilience with an 18.8 percent year-over-year increase, driven by sustained export demand and domestic consumption.

The report attributes the market’s steady growth to increasing agricultural mechanisation, rising food demand, government support, and advancements in tractor technology.

Despite the October decline, year-to-date performance remains strong. From January to October, Vietnam exported fruits and vegetables valued at US$6.16 billion, representing a 27.8 percent increase compared to the same period in 2023…

Year-to-date, the sector has attracted nine projects with total capital amounting to US$91.53 million. This significant decline reflects the challenges in attracting consistent FDI in agriculture-related industries, which often depend on specific seasonal and market-driven factors.

Year-to-date figures also highlight positive performance. From January to October, Vietnam exported 1.44 million tonnes of fertilisers, generating US$590.54 million in value. This represents a 10.9 percent increase in volume and a 9.4 percent rise in value compared to the same period in 2023.

Year-to-date figures reveal even more impressive growth. From January to October, Vietnam exported 609,229 tonnes of cashew nuts valued at US$3.58 billion, reflecting increases of 17.9 percent in volume and 21.4 percent in value compared to the same period in 2023…