Robust opportunities for US exports of agricultural products to Việt Nam: USDA report

Friday, May 17, 2024 14:42

Customers shop at a supermarket in Hà Nội. The US exported $3.1 billion in agricultural products to Việt Nam in 2023, the third largest agricultural product exporter to Việt Nam behind China and Brazil. — VNA/VNS Photo Trần Việt

Robust opportunities exist for the US agricultural products to Việt Nam thanks to projected overall market growth and strong preference for high-quality, safe products, according to a recent analysis of the Foreign Agricultural Services under the US Department of Agriculture.

The report shows that Việt Nam imported US$32 billion worth of agricultural products in 2023. Imports have increased over the past three years as Việt Nam recovered from COVID-19 disruptions.

The US exported $3.1 billion in agricultural products to Việt Nam in 2023, the third largest agricultural exporter to Việt Nam after China and Brazil.

Top US agricultural product exports to Việt Nam included cotton, soybeans, distillers grains, soybean meal, tree nuts, other feeds, meals and fodders, dairy products, wheat, poultry meat and products and fresh fruit.

Many are consumer-oriented goods which show Việt Nam has a rapidly growing middle class and preference for US high-quality products, the report says.

“Vietnamese consumers demand high-quality and safe products. The US exporters of consumer-oriented products are well poised to fill this demand as both the population and the middle class continue to grow. The US products are sold at various levels – retail, hotel, and food processing– all growing industries in Việt Nam.”

For example, in 2023, the US exported US$146 million worth of dairy products to Việt Nam, including non-fat dried milk powder and fresh cheese.

Exports of fresh fruits from the US reached $105 million in 2023, a 13 per cent decrease from 2022 and consisted mainly of apples, cherries and grapes.

In total, Việt Nam has granted access for seven fresh fruits of the US origin including apples, cherries, grapes, pears, blueberries, oranges and grapefruit.

“Imported fruits will become increasingly popular as their affordability improves because of economic growth and as Vietnamese consumers adopt healthier diets,” the report says.

According to the report, with a burgeoning population and a growing middle class, Vietnamese consumers are becoming more discerning about the origin and composition of their food.

Việt Nam is a dynamic market, offering abundant opportunities for suppliers of safe and high-quality agricultural products. — VNS

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