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| Illustrative photo (Photo: VNA) |
Chairman of the Vietnam Coffee and Cocoa Association (VICOFA) Nguyen Nam Hai said that during the 2023-2024 crop year, Vietnam exported about 1.46 million tonnes of coffee, a 12.1% decrease compared to the previous crop year.
Despite the reduced volume, the export value soared by 33.1%, reaching 5.43 billion USD, marking the highest level ever in a coffee season.
This was also the first time that Vietnam’s coffee exports in a single season surpassed the 5 billion USD mark, Hai said, attributing the value increase to the hiked prices.
According to the General Department of Customs, in September alone, the average export price of Vietnamese coffee reached 5,469 USD per tonne, the highest ever so far, up 5.8% from the previous month and 68.7% compared to September 2023.
For the entire 2023 - 2024 crop year, the average export price was 3,673 USD per tonne, nearly 50% higher than in the previous year. With such price, coffee is the export product with the strongest price rise among Vietnam’s major agricultural exports.
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| Illustrative photo (Photo: VNA) |
The European Union (EU) remained Vietnam’s largest coffee export market during the 2023-2024 crop year as it imported 563,000 tonnes worth 2 billion USD, down 8.6% in volume but up 41% in value.
Germany, Italy, and Spain were Vietnam's top three individual coffee export markets in the past season, with export values of 607 million USD, 417 million USD, and 413 million USD respectively, reflecting growth rates of 37%, 30%, and 75% compared to the 2022-2023 crop year.
Other major markets also saw strong growth in export value despite declining volumes, such as Japan (up 38%) and Russia (up 20%).
Vietnamese artists win three gold awards at Asia Pacific Arts Festival 2024
Artists of Hanoi-based Le Ngoc Theatre won a Gold Plus and two gold awards at the 2024 Asia Pacific Arts Festival held in Singapore from October 19 – 20, reported Vietnam News Agency.
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| People’s Artist Le Ngoc (central) performs “Co doi thuong ngan” (Goddess of Forest) at the 2024 Asia Pacific Arts Festival. (Photo: nguoihanoi.vn) |
The Gold Plus went to People’s Artist Le Ngoc with the “Co doi thuong ngan” (Goddess of Forest) performance while the two gold awards were presented to Meritorious Artists Nguyen Van Hai and Pham Thi Hong for “Beo dat may troi” (When Earth and Sky Unite) folk song performance.
The two performances featured Vietnam’s cultural heritage recognised by the United Nations Educational, Scientific and Cultural Organisation (UNESCO) - the Vietnamese beliefs in the Mother Goddesses of Three Realms and the Quan Ho Bac Ninh folk songs.
Dancers from the theater were also awarded a commemorative award for their outstanding supporting dance performance.
International artists and audiences were impressed by Vietnamese artists’ performances raising awareness of preserving cultural heritage and the origins of culture.
The Asia Pacific Arts Festival, which was first held in 2013, aims to promote harmony, peace, and global friendship through diversified cultural exchanges, workshops, and performing arts.
China emerges as largest export market for Vietnamese seafood
China has surpassed the United States to become Vietnam’s largest seafood export market with turnover reaching US$1.33 billion during the nine-month period, reported the Voice of Vietnam according to statistics from the Vietnam Association of Seafood Exporters and Producers (VASEP).
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| Photo: VOV |
Statistics indicate that the country earned more than US$7.2 billion from seafood exports over nine months, up 9% year on year.
The five largest export markets for local seafood brought in US$5.1 billion, accounting for 70% of the total seafood export turnover throughout the reviewed period.
China and Hong Kong (China) became Vietnam’s largest seafood export markets with a turnover of US$1.33 billion, followed by the US - US$1.32 billion, Japan - US$1.1 billion, the EU - US$781 million, and the Republic of Korea - US$568 million.
Most notably, shrimp and pangasius exports surged by 11% and 8% to reach US$2.8 billion and US$1.5 billion, respectively, in the initial nine months of the year.
Meanwhile, Vietnamese tuna exports rose by 18% to US$728 million, while crabs and other crustaceans exports soared by 67% to US$228 million.
In contrast, the export value of squid and octopus decreased by 3% to US$463 million compared to the same period last year
Experts pointed out that with robust growth enjoyed in September, seafood exports are likely to bring back US$9.5 billion this year, up 7% year on year.
Peru’s mega-port to open opportunities for Vietnam's import-export, logistics
The US$3.5 billion mega-port of Chancay in Peru, set to be completed this year and expected to become a key logistics hub in Latin America, will open new opportunities for Vietnam's logistics industry by enhancing maritime transport connections and facilitating trade between the two regions, reported the Voice of Vietnam.
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| Photo: VOV |
According to experts, designed to handle 1.5 million TEUs annually, Chancay is poised to play a vital role in boosting economic and trade relations between the Southeast Asian nation and its Latin American peers. Forecasts suggest that trade between Vietnam and Latin America could grow by up to 10% on a yearly basis, provided that improvements in logistics and transport connections are made.
Leveraging the mega-port as an optimal logistics solution, Vietnam could significantly increase its import-export turnover with Latin American partners, especially in sectors such as industry, agricultural goods, and energy. As a result, Chancay is expected to become a crucial link for economic and trade relations between Vietnam and Peru in particular and Latin America in general.
The former will be better positioned to capitalise on existing trade agreements with countries in the region, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Vietnam-Chile and Vietnam-Cuba free trade agreements.
Vietnam's import-export turnover with Latin American countries reached US$20.6 billion last year. Its major exports to the region include farm produce, garments-textiles, footwear, processed foods, wood products, electronics, and components. Meanwhile, Vietnam primarily imports raw materials, agricultural products, wood, garment accessories, and animal feed.
With new maritime routes connecting Chancay and Vietnam, Vietnamese businesses can optimise both time and transport costs. It is estimated that the port could reduce shipping times from the country to Latin America by up to 30%, or even 50%, which could help firms involved save up to 20% in logistics costs compared to traditional routes.
This would enable Vietnam to export key products like textiles, electronics, and agricultural goods (such as rice and coffee) to and import minerals, agricultural products, and petroleum from Latin American countries at more competitive costs.