With a sharp fall in the export of timber and timber products to established markets such as the US and the EU, India and the Middle East are emerging as new hopes for Vietnamese timber exporters.

Vietnam’s rice export prices have continuously set new records over recent times and exceeded the US$550 per tonne mark following India's official ban placed on rice exports.

According to information from the Vietnam Timber and Forest Product Association (Viforest), the U.S. Department of Commerce (DOC) will issue its final determination on the anti-circumvention inquiry of anti-dumping and countervailing duties on hardwood plywood imports from Vietnam, following a prolonged delay.

Following the release of a notice by the Việt Nam Cashew Association (Vinacas) warning cashew businesses about potential fraud concerning the export of cashew kernels to Dubai, United Arab Emirates (UAE), the Vietnamese Ministry of Industry and Trade's (MoIT) Asia-Africa Market Department has confirmed swift action.

Despite the advantages of free trade agreements, slashes in global demands and many countries using technical barriers to protect domestic production, are making it difficult for Vietnam to expand exports this year and ensure state budget revenues.

Vietnam’s agricultural, forestry and fishery exports to the European Union (EU) market reached 2.1 billion USD in the first six months of 2023, down 16.6% over the same period in 2022, according to the Ministry of Agriculture and Rural Development.

The Ministry of Trade and Industry's Import-Export Department urged rice exporters to ensure price stabilisation and food security in the domestic market after India restricted rice exports which is forecast to have a significant impact on the global rice market.

Vietnam’s merchandise exports are still struggling but have seen positive signs in the past two months, and both exporters and state management agencies are working hard to regain growth momentum.