One of the largest supermarkets in the US wants to buy a variety of Vietnamese agricultural products

The US imports a lot of wood products and seafood from Vietnam

In the first four months of 2022 alone, Vietnam's agricultural, forestry and fishery exports to the US reached nearly US$4.9 billion (accounting for 27.3% of the market share), of which the export turnover of wood and wood products account for 68.2% of Vietnam's agricultural, forestry and fishery export turnover in this market.

The Chinese market has dropped to second place with an export turnover of over $3.2 billion (accounting for 18.1% of the market share), with rubber exports accounting for 22.4% of the turnover. export of agricultural, forestry and fishery products.

Among agricultural products, the US is buying the most cashew nuts, seafood, wood and fruits from Vietnam.

One of the largest supermarkets in the US wants to buy a variety of Vietnamese agricultural products - Photo 1.

During Prime Minister Pham Minh Chinh’s visit to the US from May 11 to 17, Minister Le Minh Hoan had a meeting with Walmart Group to connect Vietnamese agriculture with this global supermarket chain. Walmart representative said they want to buy all Vietnamese agricultural products if they meet all requirements. Photo: fool.com.

For example, with cashew nuts, in April 2022, the US bought 15,392 tons of cashew nuts from Vietnam, worth $86,857 million; In the first 4 months of 2022, Vietnam exported 50,334 tons of cashew nuts to the US, worth 285.9 million USD. The US is the largest buyer of cashew nuts from Vietnam.

Vietnam's fruit and vegetable exports to the US are currently second only to China. In the first four months of 2022, Vietnam's fruit and vegetable exports to the US reached US$87.04 million, up by 51.4% year-on-year.

Notably, seafood exports to the US are experiencing impressive growth, ranking first among Vietnam's seafood import markets.

In April 2022, the US spent 275 million USD to buy all kinds of seafood from Vietnam, up 84.6% over the same period in 2021. Generally in the first 4 months of 2022, seafood exports to the US reached $849.8 million, increasing up to 75%.

However, the most impressive growth is the export of wood products and wood products to the US. According to that, in April 2022, the export turnover of wood and wood products from Vietnam to the US reached 935 million USD, up 13.3% year-on-year. Accumulated in the first 4 months of the year, Vietnam's exports of wood and wood products to the US reached US$3.33 billion, up 6.6% over the same period.

According to the Import-Export Department (Ministry of Industry and Trade), Vietnam has surpassed China to become the largest wooden furniture supplier for the US since 2020. In 2021, the import value of wooden furniture of the US from Vietnam reached 10.4 billion USD, up by 28.1% compared to 2020.

An American retail supermarket wants to buy all agricultural, forestry and fishery products from Vietnam if it meets all requirements

During the visit to the US by Prime Minister Pham Minh Chinh from May 11 to 17, Minister Le Minh Hoan had a meeting with Walmart Group to connect Vietnamese agriculture with this global supermarket chain.

Mr. Paul Dick, Vice President of Walmart Group, said that Walmart relies heavily on the supply ability of its partners to build its strength in business. About a third of Walmart's goods are sourced from foreign suppliers.

Walmart plans to buy all kinds of agricultural, forestry and fishery products from Vietnam to serve Walmart's consumers if the above requirements are met.

Therefore, future opportunities are unlimited if the suppliers of agro-forestry-fishery products in Vietnam grasp and apply the above-mentioned standards well.

Minister Le Minh Hoan highly appreciated Walmart's position in the global market as well as Walmart's approach in applying standards, ensuring the interests of consumers.

The Ministry of Agriculture and Rural Development is strengthening its role in coordinating the supply of raw materials, developing codes of planting areas, livestock and aquaculture establishments. Through that they aim to ensure food safety, quality, and environmental standards.

This is the basis to connect Vietnam's agricultural, forestry and fishery products with Walmart's hypermarkets globally, minimizing the risks of market fluctuations and disruption of the global supply chain.

The Minister suggested that Walmart work closely with the Ministry to build a forum to provide information and guidance to Vietnamese agro-forestry-fishery suppliers on Walmart's standards and requirements. On that basis, the two sides will together form  material zones, packaging, preservation and processing facilities to ensure Walmart's standards, thereby bringing Vietnamese agricultural, forestry and fishery products to be distributed in the whole Walmart system. methodically and sustainably.

Khanh Nguyen

Dan Viet News