Asia is Vietnam’s largest pepper export market in the first quarter of 2024.

16:07 - 25/04/2024

News 1

Asia is Vietnam’s largest pepper export market in the first quarter of 2024.

According to data from the President of Customs, in March 2024, the rattan, bamboo, sedge, and carpet product group set the highest record in the past 2 years, reaching 85 million USD, an increase of 79,9% compared to February 2024 and increase by 35,4% over the same period in 2023. Overall, exports of rattan, bamboo, sedge, and carpet products were 212.07 million USD in the first three months of 2024, up 28.3% over the same period in 2023.

In the past period, rattan, bamboo, sedge and carpet products were exported to 59 markets; Of which mainly exports to the United States reached 2.57 million USD, an increase of 8,4%; UK reached 2,75 million USD, up 30,4%; Japan reached 2,26 million USD, up 3,1%; Spain reached 2,19 million USD, up 9,1%...

Thanks to the contribution of rattan, bamboo. sedge, and carpet products, exports of wood and wood products in the first quarter of 2024 reached 3,4 billion USD, an increase of 18,9% over the same period in 2023. Currently orders at many businesses have recovered 80-90%. The businesses already have orders until mid-2024. In 2024, global trade development is forecasted to not really flourish. However, positive signs of recovery from some energy markets such as the US, EU… have brought optimism to Vietnam’s wooden furniture and handicraft export industry.

Image: Duc Phong bamboo and rattan lantern, a product recognized with 5 national OCOP stars

View other information at: Quý I/2024, xuất khẩu mây, tre, cói thu về 212,07 triệu USD

News 2 : The Red Sea crisis threatens the global supply chain

The IMO secretary-general said that the attacks in the Red Sea have a negative impact on global trade and economy, as shipping accounts for more than 80% of the total volume of trade in goods. The attacks caused cargo ships to divert through the Cape of Good Hope in South Africa, increasing freight rates, while increasing emissions from ships having to travel longer routes, while the IMO is working to reduce these emissions.
Previous to this, Red Sea tensions had caused the Suez Canal's earnings to drop by more than 50% since the year's commencement, according to Egyptian Prime Minister Mostafa Madbouly,emphasizing that Egypt has seen serious repercussions as a result of maritime insecurity.
The Houthis of Yemen have attacked commercial ships close to the vital Bab Al-Mandeb Strait in the Red Sea on multiple occasions. Many shipping lines were compelled to halt operations in the Red Sea due to security concerns, opting instead to take a longer and more costly sea route that circumnavigates the southernmost point of Africa, the Cape of Good Hope.