Durian, rice record export breakthroughs in 2024

Durian, rice, coffee, and forestry products made strong impressions in terms of exports in 2024, driven by a strategic approach to production, market expansion, and record price hikes.

In 2024, export revenue of agricultural, forestry, and fishery products reached $62.4 billion, an 18.5% increase from the previous year, surpassing the $54-55 billion target set by the government.

The standout performer was the fruit and vegetable segment, particularly durian.

As a "rising star," durian accounted for 40-42% of Vietnam's total fruit and vegetable export revenue in 2024, helping this category achieve $7.2 billion. Remarkably, this figure pushed fruits and vegetables ahead of rice, historically Vietnam’s leading agricultural export.

Although trailing durian in revenue, rice continues to be a cornerstone of Vietnam’s exports, generating nearly $5.8 billion in 2024, an increase of 21%.

Vietnam exported nine million tons of rice in 2024 at an average price of $620 per ton, the highest ever, outpacing competitors like Thailand and India.

Major buyers included the Philippines, Indonesia, and China, with Indonesia doubling its imports to bolster food reserves. The agriculture ministry anticipates continued growth in rice exports through 2025, supported by sustainable farming practices and high-quality products from the Mekong Delta.

The coffee sector also experienced a banner year, with revenue reaching $5.5 billion, a 32% increase year-over-year. While production fell 15% due to weather-related challenges, average prices rose 57%, reaching $4,037 per ton, the highest on record. Germany, the U.S, and Italy remain the largest markets, alongside growing demand from South Korea and Japan.

Nguyen Quoc Manh, deputy director of the Department of Crop Production, highlighted the role of replanting programs in boosting quality, meeting international standards and expanding market share.

Forestry exports hit $17.3 billion, a 19.4% increase. Wood products and furniture were key drivers, with strong demand from the U.S., EU, Japan, and South Korea. Emphasis on sustainable production and eco-friendly materials has also opened opportunities in the Middle East and Africa.

Asia remained the largest consumer of Vietnamese agricultural, forestry, and fishery products, accounting for 48.2% of total export revenue, followed by the Americas (23.7%) and Europe (11.3%).

Exports to Europe saw the highest growth (30.4%), followed by the Americas (23.6%) and Asia (16.1%). Major destinations like the U.S., China, and Japan continued to dominate. Revenue from exports to the U.S. grew 24.6%, while China and Japan saw increases of 11% and 5.5%, respectively.

The Center for Information on Agricultural and Rural Development (Agroinfo) identifies the U.S. and China as the most promising markets for Vietnamese products, driven by robust demand for coffee, cashew nuts, pepper, and tropical fruits.

Additionally, Japan offers significant potential for organic and sustainable products, underscoring Vietnam’s commitment to meeting evolving global standards.