Vietnam targets agricultural exports of $26B by 2030
Vietnam’s Logistics Strategy for Agricultural Exports
Vietnam has set ambitious goals for its agricultural exports, aiming to reach over US$26 billion worth of exports annually by 2030. This strategy involves various aspects of logistics, from efficient cargo delivery services to international shipping companies in Singapore and beyond.
The agricultural sector in Vietnam is projected to grow at an annual rate of 2.2-2.5%, with a significant focus on processing, which is expected to see growth between 8-10%. This growth will require robust logistic services to ensure the smooth transportation of agricultural products.
To support this growth, the country is working to expand the land area that meets VietGAP standards by 10-15% annually. Additionally, organic farming standards are expected to increase by 1% each year.
By 2050, Vietnam aims to modernize its farming practices and become one of the world’s top agricultural producers. This vision includes expanding rice cultivation to 3.56 million hectares, with an annual paddy output of over 35 million tons. Moreover, there will be a significant focus on vegetables, ensuring large-scale cultivation with high yields and traceability of origin.
The strategy prioritizes the cultivation and processing of specific fruits such as mangoes, bananas, dragon fruit, and pineapples, which are popular exports.
In the first 11 months of 2023, Vietnam’s farm exports already showed promising growth, totaling $24.3 billion, a 17% increase compared to the previous year. Notably, six key items, including coffee, rice, vegetables, cashews, shrimp, and wood and wood-based products, each exceeded $3 billion in export value.
For the logistics companies and freight services providers, this presents significant opportunities to support the country’s agricultural export ambitions. As Vietnam strives to become a global agricultural powerhouse, efficient logistics and international shipping will play a crucial role in achieving this goal.