At the ministry's regular press conference on the morning of June 17, Deputy Minister of Agriculture and Environment Dang Ngoc Diep reported that exports of agricultural, forestry and fishery products continued to expand during the first five months of the year, contributing to a sector-wide trade surplus exceeding US$7 billion.
The Ministry of Agriculture and Environment data show that China remains Vietnam's largest export market for agricultural, forestry and fishery products, accounting for 20.8 percent of total export turnover. The United States ranks second with 18.8 percent, followed by Japan with 6.9 percent.
Responding to questions about the potential impact of geopolitical developments on agricultural trade, Deputy Minister Dang Ngoc Diep said that the ministry has developed contingency plans for various scenarios. These include measures to address disruptions lasting three months, six months, or longer in an effort to minimize impacts on production and exports.
The Deputy Minister noted that Vietnam still imports more than US$2 billion worth of fertilizers and around US$8 billion in raw materials for animal feed production each year. As a result, the ministry has already devised plans to help secure essential agricultural inputs in the event of prolonged market instability.
Regarding export markets, he said Vietnam's agricultural exports to the Middle East remain relatively modest. To reduce potential risks, the ministry is working to expand exports to key markets such as China, the United States and Japan.
The ministry believes that contingency planning, together with stronger product traceability systems and market diversification efforts, will help maintain export growth momentum in the coming months.
