New challenges predicted for industrial plant products in 2024
After a successful year in 2023, the production and export of products from industrial crops are forecast to face new challenges in 2024, requiring flexible response of each industry from the stage of production to processing and market development.
Hanoi (VNA) – After a successful year in 2023, the production and export of productsfrom industrial crops are forecast to face new challenges in 2024, requiring flexibleresponse of each industry from the stage of production to processing and marketdevelopment.
Last year, theexport revenue of agricultural products hit 25 billion USD, with greatcontributions from industrial plants such as coffee, cashew, peppercorn, teaand rubber. Two products with export turnover of over 3 billion USD werecoffee (4.18 billion USD) and cashew nuts (3.63 billion USD).
According to the Agency of Foreign Trade under the Ministry of Industry and Trade, in 2023,Vietnam benefited from a price hike of Robusta coffee. The country shipped abroad 1.61 million tonnes of coffee, with an average price of 2,834 USD a tonne, up 14.1% year on year.
In 2024, the coffeesector is forecast to continue to benefit from the high price of Robustacoffee, which is predicted to hit a new record due to concerns about a supplyshortage.
For the cashew sector, last year, growth was seen in alltraditional markets of Vietnam despite teh economic crisis.
According to the Vietnam Cashew Association (Vinacas), salesof this healthy product is forecast to increase in 2024, while productivity andoutput are predicted to remain stable.
Meanwhile, in 2023, despite an increase in export volume,the value of peppercorn exports saw a drop of 6% compared to 2022, mostly dueto a sharp drop of 19.4% in prices.
However, Nguyen Tien Dung, Sustainability Manager of Dak LakSeptember 2 Import-Export Company Limited, held that this year, the biggestchallenge facing the coffee sector is sustainable development criteria,especially the EU Deforestation Regulation (EUDR).
Head of the Vietnam Peppercorn Association (VPA)’s Office LeViet Anh underlined that Vietnamese peppercorn is also encountering greatbarriers from increasing technical standards of markets, especially in terms of qualityand food safety.
At the same time, the cashew sector is facing pressure from greenproduction transition to meet increasingly strict requirements in terms ofenvironment and social responsibilities in foreign markets, especially the USand European countries./.
The prices of Vietnamese coffee are forecast to continue to increase next year due to severe supply shortage, according to the Vietnam Coffee-Cocoa Association (Vicofa).
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A farmer is harvesing coffee. (Photo: VNA) 
