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MY 2023/24 coffee production is lowered 3.8 million bags to 27.5 million bags due to unfavorable weather conditions as a result of climate change and El Nino climate patterns.
Vietnam is a growing market for beef and beef products, with demand driven by numerous factors including a growing population, economic growth, widening integration with global economies through free trade agreements, rising income per capita, and expanding modern retail and food service channels.
This report provides updated information about the adoption of agricultural biotechnology in Vietnam. In the first six months of 2023, Vietnam approved six outstanding biotech corn hybrids for cultivation after the country suspended its appraisal process since 2017.
Vietnam's total retail sales in 2022 rose 13 percent year-on-year to $192 billion driven by a rebound in domestic consumption along with record-high gross domestic product (GDP) growth at 8.02 percent, according to Vietnam’s General Statistical Office.