Vietnam: Agri-Commodities Market Overview

Vietnam is a beautiful Asian country famous for its luscious rice fields in the north to the vibrant hustle of the Mekong Delta in the south. Vietnam is world-famous for its Agri commodities market.

Agriculture has always been quite important in Vietnam. The Red River delta, the Mekong River delta, and the southern terrace region are the major agricultural areas. The center coastline terrain, which is vulnerable to severe typhoons, is a low-productivity zone.

Vietnam has taken economic expansion seriously and now seeks to satisfy its hunger. The agriculture industry in Vietnam offers a living for rural households. It is one of the most important contributions to Vietnam’s GDP, along with forestry and fishing.

The Vietnamese government has been supporting the agriculture economy with various measures, attempting to steady production and looking for methods to assure the sector grows healthily and sustainably.

The Vietnamese federal government has been a strong supporter of agriculture for decades. There is widespread political agreement on the requirement for the land, workforce, and tax policy to enable the industry to achieve its full potential.

Vietnam maintains its world-leading position in agricultural output, producing several types of rice, wheat, cotton, meat, poultry, eggs, and fisheries items.

The new plan asks for increased efforts to secure the supply of essential farm products and the promotion of supply-side structural change and, most significantly, the enhancement of environmental sustainability, pollution control, and sewerage.

Domestic Production:

• Rice is the most significant crop in Vietnam. It is commonly cultivated in the Red and Mekong river deltas.
• Sugarcane, cassava (manioc), corn (maize), sweet potatoes, and nuts are other major food crops.
• Banana, coconut, and citrus tree farms abound clustered in the Mekong delta and the southern terrace provinces.
• Fruit trees (banana, orange, mango, jackfruit, and coconut) and vegetables are grown in fields, groves, and kitchen gardens across Vietnam.
• Vietnamese produces areca palms and betel peppers for their nuts and leaves, and mulberry plants to feed silkworms.

Export of Agri-Commodities:

• Vietnam is a significant agricultural exporter, ranked 27th around the world, with several goods in the top categories, including rice, coffee, pepper, cashew nuts, rubber, aquatic products, and woodwork.
• Presently, Vietnam’s rice exports rank third in the world following India and Thailand and are shipped overseas to approximately 150 countries and territories worldwide.
• Vietnam is the world’s second-largest coffee exporter after Brazil, exporting to over 100 nations having a turnover of more than US$ 100 million.
• After China, Kenya, India, and Sri Lanka, Vietnam is the world’s fifth-largest tea exporter. Vietnam’s key markets include Pakistan, which accounts for 37.5 percent of total revenue (US$ 81.6 million), Taiwan (US$ 28.7 million), Russia, China, Germany, the Philippines, India, the United States, Saudi Arabia, Poland, and others.
• Vietnam is also the world’s largest pepper exporter, accounting for 55-60% of the worldwide market, with black pepper accounting for 90% and white pepper accounting for 10%.
• Vietnam exports fisheries to more than 150 countries generating revenue of over US $9.01 billion.

Import of Agri-Commodities:

• Vietnam’s major import items are Animal feed and raw materials, corn, soybeans, cotton, wheat, vegetables, cashews, milk, and dairy products.
• Vietnam is a leading fishery exporter despite this it imports fishery for processing and other needs.
• Vietnam currently imports fishery from 86 countries, including India, Norway, ASEAN (mainly from Indonesia), China, Taiwan, Japan, Russia, Korea, Chile, and the United States, accounting for 73.8% of Vietnam’s total fishery imports.
• Vietnam imports Corn mainly from Argentina and Brazil. Australia, Canada, and Russia are the wheat suppliers of this country.
• United States, Brazil, and Canada are the major soybean import sources for Vietnam.
• It imports fruits and vegetables from Thailand, China, India, Myanmar, Chile, Australia, South Korea, South Africa, and the United States.
• Major fruits and vegetables that Vietnam imports are mangoes, rambutan, dragon fruit, jackfruit, durian, longan, cabbage, carrot, kohlrabi, cauliflower, potato, plum, apple, pear, yellow melon, pomegranate, grape, tangerine, and flowers, apples, pears, grapes, cherry, kiwi, etc.

Top Commodity Export Destinations From Vietnam in 2020:

(Percent Market Share)

Vietnam’s Country-Wise Imports in 2020:

(Percent Market Share)

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