Vietnam’s export revenue of vegetables and rice in the first 10 months of this year surpassed the figure reported in the whole 2022 by 2 billion USD, reaching a record amount of 8.9 billion USD, according to Vietnam+.

In the January-October period, vegetable exports hit 4.92 billion USD, up 79% year on year, while that of rice reached 4 billion USD, a rise of 35%.

The result considerably contributed to the export revenue of 40 billion USD of the agricultural sector and 291 billion USD of the whole economy in the first 10 months of 2023.

Affected by the Chinese market, Vietnam suffered a drop of 5.1% in vegetable exports in 2022. However, since the beginning of this year, Vietnam has received a large number of orders, especially for high-value products of durians, mangos, and jackfruits.

According to the Vietnam Fruit and Vegetable Association (Vinafruit), the re-opening of the Chinese market as well as protocols signed with the largest market of Vietnamese fruits and vegetables were among motivations for growth of fruit and vegetable exports.

Meanwhile, rice sector also reaped good results in exports in the period thanks to increase in prices.

According to Nguyen Van Don, Director of the Viet Hung JSC in the Mekong Delta province of Tien Giang, India’s ban and restriction of rice exporting has created a chance for other exporters like Vietnam, the third largest rice supplier in the world.

With an expected output of over 43 million tonnes this year, the Ministry of Agriculture and Rural Development estimates that after ensuring supply for domestic demand, Vietnam can ship abroad 7.5-8 million tonnes of rice in 2023. The ministry held that in the last two months of this year, Vietnam is likely to earn additional 850-900 million USD from rice exports, raising the total figure for this year to 4.7-4.8 billion USD.

Experts held that in the rest of the year when the festive season comes, demands for fruits and vegetables will continue to surge, especially in the Chinese market.

Vinafruit General Secretary Dang Phuc Nguyen said that in the last two months of 2023, Vietnam can earn about 1.2 billion USD, or at least 600 million USD each month from fruit and vegetable exports. In a higher scenario, the figure may reach 1.5 billion USD thanks to increase in orders from the Chinese market, especially for Vietnam’s strong products such as dragon fruits, bananas, jackfruits, passion fruits and durians, he predicted.