[January 3rd] Vietnam targets agricultural exports of $26B by 2030

Vietnam targets exports of agricultural produce such as fruits, rice, cashew, and timber worth over US$26 billion a year by 2030.

Its crop development strategy for until 2030 envisages annual growth in output of 2.2-2.5% and in processing of 8-10%.

The land area meeting VietGAP standards will increase by 10-15% a year and organic farming standards, by 1%.

By 2050 the strategy seeks to modernize farming and make the country among the world’s top agricultural producer.

By then rice will be grown on 3.56 million hectares with annual paddy output topping 35 million tons.

Vegetables will be grown on a large area with big yields and origin traceability.

Growing and processing certain fruits such as mango, banana, dragon fruit, and pineapple will be prioritized.

In the first 11 months of 2023 the country’s farm exports were worth $24.3 billion, a year-on-year rise of 17%.

Exports of six items — coffee, rice, vegetables, cashew, shrimp, and wood and wood-based products — were each worth over $3 billion.

Source: VN Express