Update news vietnam agriculture
Agro-forestry-aquatic product exports were estimated at 20.26 billion USD in the first five months of 2023, down 11.1% year on year, according to the Ministry of Agriculture and Rural Development (MARD).
The circular economy and organic agriculture are being adopted by many enterprises. Agricultural waste is now being re-used in farming.
Animal feed prices are escalating and fertilizer prices are staying at high levels. Meanwhile, prices of many kinds of farm produce are decreasing sharply, causing farmers to incur big losses.
The difficult market, coupled with a sharp increase in loan interest expenses, caused the profits of many agriculture enterprises to fall in the first quarter of 2023, with some large corporations even recording heavy losses.
While other countries have successfully built brand ecosystems valued at tens of billions of dong, Vietnam’s farm produce is still mainly exported in the raw state.
Large-scale farming will open up a new way of development, helping to remove bottlenecks in agricultural production, which is small and fragmented, thus making it difficult to organize production and apply mechanization.
Twelve out of 13 provinces in the region have signed up for the plan. They have committed to reaching 200,000 ha next year, 719,000 ha in 2025, and over one million ha in 2030.
Vietnam’s fruits have entered a number of choosy markets recently, which shows the sustainable growth of the sector. But there are still things that need to be done to increase added value and gain export revenue of $6.5 billion.
By 2030, aquaculture production is expected to reach 7 million tonnes with export revenue of US$12 billion per year, while the growth rate of aquaculture value is expected to reach an average of more than 4.5 per cent a year.
The agricultural sector targets attracting 25 billion USD in foreign direct investment (FDI) by 2030, along with 5 billion USD in loans and 1 billion USD in grants.
In the digital era, next-generation farmers can fertilize and water their fields in Binh Phuoc from afar, even in a different country.
In 2023, the agricultural sector will promote negotiation to open more foreign markets for local farming commodities, said Hoang Trung, director of the Plant Protection Department under the Ministry of Agriculture and Rural Development.
The agricultural sector is anticipated to rake in US$54 billion from export next year built on its impressive US$53 billion export turnover recorded in 2022, according to the Ministry of Agriculture and Rural Development (MARD).
It took over a year to build the brand "Ruby plum," which caused the price and sales to immediately skyrocket to be on par with similar products imported from the US and Australia.
Vietnam has set a target to double the amount of foreign investment in agriculture to 34 billion USD by the end of 2030.
The optimal requirement of farm produce is safety, and without it, sales would be low.
The Ministry of Agriculture and Rural Development (MARD) has set a target of raising the proportion of organic fertilizer products authorised for circulation to 25% in 2025.
When the trend of consuming organic products is increasingly popular, the development of organic material sources has become an urgent requirement. Protecting these sources has become a great concern of producers in many countries around the world.
Vietnam’s agriculture is experiencing a restructuring in order to increase seafood and fruit production, and to decrease rice production.