Latest news with #MinistryofAgricultureandEnvironment
The Star
6 days ago
- Business
- The Star
Vietnam targets US$4.5bil in cashew exports for 2025
HANOI: Vietnam is aiming to export cashews worth US$4.5 billion in 2025, up 2.7 per cent year-on-year, according to the Ministry of Agriculture and Environment. To hit this target, the sector must generate around $2.2 billion in the second half. Figures from the first six months show cashew exports reached 346,800 tonnes, earning $2.36 billion, a drop of 2.7 per cent in volume but a surge of 20.4 per cent in value annually. The rise was largely attributed to a significant increase in export prices, which helped offset lower shipment volumes. The average export price in the first half stood at more than $6,805 per tonne, up 23.8 per cent compared to the same period in 2024. China, the US and the Netherlands remained Vietnam's top three cashew buyers, accounting for 22 per cent, 21.6 per cent, and 8.4 per cent of total export value, respectively. Compared to the similar period last year, cashew export revenues rose by 41.2 per cent to China, 0.1 per cent to the US, and 22.4 per cent to the Netherlands. To sustain growth, the ministry is calling for stepped-up efforts to tap into emerging markets with strong demand but limited Vietnamese presence, including the UAE and Saudi Arabia. The EU, now Vietnam's third-largest cashew market, has also shown consistent growth in recent years. A further boost to the industry is the recent decline in raw cashew prices, down from $1,450 to $1,350 per tonne, which offers cost advantages for manufacturers ahead of the peak export season around year-end festivals and the Lunar New Year. The Vietnam Cashew Association has forecast the global market to grow at an annual average rate of 4.6 per cent between 2022 and 2027. In 2024, Vietnam exported a record 730,000 tonnes of cashews, earning $4.37 billion, a year-on-year increase of 20.2 per cent. — Vietnam News/ANN
The Star
11-07-2025
- Business
- The Star
Vietnam's 2025 coffee exports hit target, set for record US$7.5bil
HANOI: Coffee has once again emerged as a star performer among agro-forestry-fishery exports in the first half of 2025, with both volume and value registering strong growth despite ongoing global challenges in supply and climate conditions. According to the Ministry of Agriculture and Environment (MAE), Vietnam exported an estimated 953,900 tonnes of coffee worth US$5.45 billion in the first six months of 2025, increasing by 5.3 per cent in volume and 67.5 per cent in value compared to the same period in 2024. The average export price surged by 59.1 per cent year-on-year, reaching $5,708.3 per tonne. Germany, Italy and Spain remained Vietnam's top three coffee importers, accounting for 16.3, 7.9, and 7.4 per cent of total exports respectively. Notably, export value to Germany more than doubled in the first five months of the year, while Italy saw a 45.1 per cent rise and Spain 55.8 per cent. Among Vietnam's top 15 export markets, the most significant increase came from Mexico, with export value soaring 71.6 times, while China recorded the lowest increase at 22.9 per cent. Deputy Minister Phung Duc Tien highlighted that Vietnam has already met its original 2025 coffee export target of $5.5 billion in just six months. With several months still ahead, the country is now expected to reach $7.5 billion in coffee exports by year-end, an increase of 36.9 per cent year-on-year. 'The bulk of coffee production typically occurs between December and April,' he said. 'So, exports in the second half of the year are not expected to be as high as in the first half. But if Vietnam earns $2 billion in the final six months, the $7.5 billion target is well within reach,' Tien said. The outlook for Vietnam's coffee sector remains favourable despite some production concerns. The US Department of Agriculture (USDA) has forecast that global coffee production in the 2024–25 season will reach 174.4 million bags, up 2.98 per cent compared to the previous crop. Meanwhile, global consumption is expected to be only 169.36 million bags, creating a potential surplus of more than nine million bags. Major producers are expected to boost output, with Brazil reaching 65 million bags, Indonesia 11.25 million bags (up 2 per cent) and Vietnam 31 million bags after October 2025 (up 6.9 per cent), expected to be harvested from October 2025. Meanwhile, global coffee prices maintained their upward momentum. Robusta prices on the London exchange on July 9 rose sharply, with September 2025 futures reaching US$3,568 per tonne (up $42 per tonne), while Arabica prices on the New York exchange climbed to 285.60 cents per pound for the same delivery month (up 2.6 per cent). Looking ahead, Vietnam's coffee sector sees opportunities to strengthen its presence in premium markets. The United States, the world's largest coffee consumer, remains a key target for Vietnam's high-quality, processed and instant coffee products. Brazil continues to dominate supply to the US, but Vietnam's robusta coffee is gaining traction in specialty and value-added segments. Meanwhile, the European Union – currently the largest export market for Vietnamese coffee – is tightening sustainability standards under its new anti-deforestation regulation (EUDR). Vietnam is classified as a 'low-risk' country under the EU's forest-risk commodity categorisation, which significantly reduces inspection rates on its exports to just 1 per cent instead of 3 per cent for the "medium-risk" group or 9 per cent for the "high-risk" group. Nguyen Do Anh Tuan, director of the MAE's International Cooperation Department, emphasised that full traceability and data transparency are critical for Vietnamese exporters to comply with the EUDR. He added that local-level data collection must be synchronised and secure, yet accessible for both State management and enterprise reporting. Deputy Minister Hoang Trung urged swift action to move from the pilot stage to full implementation of the EUDR, ensuring that all export data, documentation, and technical requirements are completed before the January 1, 2026, enforcement deadline. He believes that Vietnam's compliance with EU standards opens up new avenues for cooperation not only within Europe, but also in Asia and the Middle East. In particular, the coffee sector is encouraged to explore further opportunities in Northeast Asia – notably China, Japan and South Korea, as well as India – where competitive pricing and low transport costs favour Vietnam's exports. — Vietnam News/ANN
The Star
11-07-2025
- Business
- The Star
Vietnam unlocks carbon credit market with legal reforms
HANOI: Vietnam holds significant potential for generating carbon credits, but implementation has been hindered by the shortage of clear regulations, especially concerning payment levels and the costs associated with emissions measurement, reporting, verification and dispute resolution. This highlights the pressing need for a well-defined legal framework to guide forest carbon projects and the issuance of carbon credits, ensuring an equitable distribution of benefits among the State, forest owners and other stakeholders. High potential, limited progress According to the Ministry of Agriculture and Environment, the country's forests hold substantial economic and environmental value. As of now, there are over 14.87 million hectares of forest, including more than 10.1 million hectares of natural forest and 4.7 million hectares of planted forest. The national forest coverage rate stands at approximately 42 per cent. With this expansive forest area and rich biodiversity, Vietnam has the potential to earn considerable revenue through carbon credit trading, ecotourism development, and sustainable forest product harvesting. For instance, the mangrove forests in Can Gio alone could generate between 1 to 5 million carbon credits annually. Recognising this, in 2022, the Government issued Decree No 107/2022/NĐ-CP on the pilot transfer of emission reduction results and financial management of emission reduction payment agreements in the north central region. The pilot phase began upon issuance and will run through December 31, 2026. Nearly three years into implementation, the pilot programme has proven to be a promising new source of revenue for long-term forest protection and development. However, several challenges remain, especially in managing revenue from carbon credit transfers by organisational forest owners and identifying eligible beneficiaries. Notably, there is still no specific regulation on payment rates or cost coverage for essential tasks such as measurement, reporting, verification or carbon monitoring. International partners are now actively working with the Ministry of Agriculture and Environment to discuss agreements on carbon credit exchanges. Several localities have been approved by the Prime Minister to pilot forest carbon absorption and storage service schemes. Yet these projects remain stalled due to the absence of a national legal framework for transferring and exchanging verified emission reduction results or forest carbon credits. On June 9, 2025, the Government issued Decree No 119/2025/ND-CP amending and supplementing Decree No 06/2022/ND-CP, outlining procedures for developing, appraising and approving carbon projects. The new decree stipulates that only organisations may register carbon projects. However, it does not yet specify which authority is responsible for implementing forest carbon projects. This presents a challenge given the 2017 Forestry Law, which recognises multiple types of forest ownership including state-owned, organisational, household, individual and community based. As such, clearer rules are needed to determine which agencies, organisations or individuals may develop forest carbon projects under these diverse ownership structures. To address these challenges, the Ministry of Agriculture and Environment is currently seeking public feedback on a draft decree governing forest-based carbon sequestration service. The proposed decree provides detailed guidance on Article 63 of the Forestry Law, covering eligible participants, payment mechanisms, financial management and service delivery conditions, along with principles for ensuring transparency, accountability and equitable benefit-sharing. Harmonising interests According to the draft decree, service providers offering forest-based carbon absorption and storage must register and implement carbon forest projects in compliance with legal requirements. This includes conducting emissions reduction activities and managing the full measurement, reporting, and verification cycle before receiving forest carbon credits. These projects must contribute to Vietnam's nationally determined contributions (NDCs) on emissions reduction and may deliver services through contracts or transactions on the domestic carbon exchange. Service users must be legally recognised organisations in Việt Nam and commit to fulfilling their contractual obligations or abiding by the operational rules of the domestic carbon market. They are also required to meet all relevant financial obligations under Vietnamese law. The draft decree emphasises that forest carbon services must be provided and used transparently and responsibly, with a focus on balancing the interests of the State, forest owners and other stakeholders, while upholding Việt Nam's international commitments on greenhouse gas reduction. Once forest carbon credits or verified emissions reduction results have been traded, whether through contracts or the domestic exchange, they cannot be re-sold or transferred to other users. Revenue from these trades belongs to the forest owner and must be reinvested in forest protection and development. Nguyen Tuan Quang, Deputy Director of the ministry's Department of Climate Change, said that on Jan 24, 2025, the Government approved a master plan for developing Vietnam's carbon market. The ministry is now finalising implementation guidelines. The market will include two components: a compliance market (for emissions quota trading) and a voluntary market (for carbon credit transactions). From 2025 to 2026, the market will target three high-emission sectors, electricity, steel and cement, which together account for roughly 40 per cent of the country's total emissions. Current priorities include establishing a national carbon credit exchange, as well as a registration and issuance system to enable international market linkages from 2028 onward. Vietnam is also encouraging domestic organisations and businesses to develop carbon credits under voluntary mechanisms aligned with Article 6 of the Paris Agreement. The ministry is working with the Ministry of Finance to draft a separate decree regulating international carbon credit transactions. Additionally, the country is supporting the growth of privately operated voluntary carbon credit exchanges. A notable example is the Asean Carbon Credit Exchange, which connects buyers and sellers under both international and domestic standards. However, Quang cautioned that carbon credits must meet strict technical and legal requirements before they can be officially recognised and traded. Projects must comply with a robust system to ensure environmental integrity. The Department of Climate Change, he added, will continue providing technical and legal support to help businesses participate in the pilot market in 2025. Vietnam is currently prioritising green economic development, energy transition and environmental protection. The country aims to begin piloting the carbon credit market by the end of 2025. – Vietnam News/ANN
The Star
08-07-2025
- General
- The Star
Laos to release over 65 million fish fingerlings in 2025 to support biodiversity
VIENTIANE (Xinhua): The Lao government plans to release more than 65 million fish fingerlings and other aquatic species into rivers across Laos in 2025, as part of its efforts to conserve biodiversity and support sustainable ecosystems. The plan is a part of celebrating the Lao National Aquatic and Wildlife Day on July 13. Speaking at a press conference on Monday, Lao Deputy Minister of Agriculture and Environment Chanthakhone Boualaphanh highlighted the significance of the day and emphasized the government's commitment to the sustainable management, protection, and development of aquatic resources, which are vital to the livelihoods of the Lao people. Laos is home to over 500 fish species, which play a vital role in maintaining the country's ecological balance and represent an important part of its natural heritage. Each year, nationwide activities are held to raise public awareness, especially among young people, about the importance of conserving aquatic life and protecting ecosystems. In 2024, over 64 million fish and aquatic animals were released across Laos, supported by local communities, businesses, and international organizations. Building on that effort, the Ministry of Agriculture and Environment will partner with local authorities nationwide in 2025 to launch a fish and aquatic animal release campaign aimed at restoring natural ecosystems and water sources. In addition, the ministry is working with its partners to strengthen the fisheries sector, aiming to promote the sustainable development of the country's fisheries industry. - Xinhua
NDTV
03-06-2025
- Business
- NDTV
Vietnam To Sign Agriculture Deals With US Worth $2 Billion
Hanoi: Vietnam is expected to sign deals with the United States to buy more than $2 billion worth of agricultural products, Hanoi said on Tuesday, as it tries to slash President Donald Trump's threatened 46 per cent tariff. The announcement came as a delegation from the Ministry of Agriculture and Environment led by Minister Do Duc Duy visited the United States. Vietnam has the third-biggest trade surplus with the United States of any country after China and Mexico and is anxious to address the imbalance to head off the tariff threat. The deals announced on Tuesday include five memorandums of understanding (MOUs) to buy products worth around $800 million from the state of Iowa over three years, the agriculture ministry said in a statement on its website. This is up from the current average of $44 million of agricultural exports per year from Iowa to Vietnam, the statement said. The new deals include the purchase of soybean meal, corn, wheat, dried soybeans and dried distillers grains (DDGS), it added. Vietnam is due to head into a third round of trade talks with the United States in the coming days. Last month it said "positive progress" has been made following three days of discussions in Washington. The Vietnamese team sought help during its time in the United States from US tech and industry giants, including Lockheed Martin, SpaceX and Google. It also signed an agreement with US company Westinghouse Electric on nuclear power development. Mr Trump's real estate group broke ground last month in Vietnam on a $1.5-billion luxury resort and golf course 40 kilometres (25 miles) southeast of the capital Hanoi. His son, Eric Trump, an executive vice president of The Trump Organization, and his wife Mrs Lara attended the event, as well as local partner the Kinhbac City Development Corporation (KBC). He has also been scouting locations for a potential tower project in Ho Chi Minh City, Vietnam's southern business hub.
