Agricultural sector aims for US$43 billion in exports during 2019

The agricultural sector has set a target of achieving its annual growth rate of 3% and some US$43 billion from exports in 2019, said the Ministry of Agriculture and Rural Development.

The agricultural sector has set a target of achieving its annual growth rate of 3% .

Last year, the sector achieved some noticeable milestones in terms of restructuring and export.

The structure of agricultural production in 2018 attached more importance to improving the quality and value of farm produce, particularly with regards to exports.

Of note, the proportion of aquatic items, fruit and vegetables, and wooden products rose while those that suffered from oversupply in previous years were reduced. More attention was paid to increasing the production of high-quality products.

The ministry reported that the export of agro-forestry-aquatic products was estimated to have brought in US$40.5 billion in 2018, up nearly 10% on year. This made Vietnam the world’s 15th largest exporter of farm produce.

Agro-forestry-aquatic production, which accounted for 8.7% of gross domestic product (GDP) growth, managed growth of 3.76% last year, at peak levels over the previous past seven years.

News outlet Enternews reported that the agricultural sector is facing some major challenges in boosting growth in 2019.

Agricultural restructuring has yet to be implemented simultaneously across nationwide localities while the renewal of production models has been carried out but fails to meet the requirements for sustainable development.

The sale of farm produce remains another issue as there are still some inadequacies in market forecasts, particularly regarding the supply of pork.

The processing and preservation of farm produce has improved sluggishly, but it has yet to satisfy the requirements for large-scale production and international integration.

Another challenge is how to remove the yellow card warning imposed by the European Commission (EC) on Vietnamese seafood.