Vietnamese agricultural exports to Russia surge by nearly 50%

Vietnamese agricultural exports to Russia have seen a substantial increase, with a 48.7% rise over the past five months. Key exports include coffee, seafood, cashew nuts, and fruit and vegetables.

Preliminary statistics from the General Department of Customs indicate that, by late May 2024, agricultural export turnover to Russia reached US$331.3 million, reflecting a 49.7% increase from the same period last year.

Coffee led the exports to Russia, achieving a turnover of US$161.6 million, marking a 39% year-on-year increase. Seafood followed with US$76.4 million, up 87.7%, cashew nuts at US$28 million, rising 81.8%, and fruit and vegetables at US$26.8 million, up 25.2%.

Additionally, rubber exports to Russia increased by 23.8%, wood and timber products rose by 47.6%, rice exports doubled, and pepper exports saw a sharp rise of 96.9%. In contrast, tea products were the only category to experience a decline, decreasing by 12%.

The Vietnam Association of Seafood Exporters and Producers (VASEP) attributes this growth to improved logistics, with direct routes from Ho Chi Minh City and Hai Phong to Vladivostok. Enhanced railway transport and tariff incentives from the 2015 Vietnam-Eurasian Economic Union Free Trade Agreement (VN-EAEU FTA) have also boosted the competitiveness of Vietnamese agricultural products in Russia.