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October 27, 2021, 2:23 am

Agricultural exports increase by 12 percent in eight months

(16:28:52 PM 27/08/2014)
(Tinmoitruong.vn) - Vietnam has generated 20.22 billion USD in revenue from its farming, forestry and seafood exports in the first eight months of 2014.

 This represents an 11.9 percent increase from that of the same period last year, with exports in August accounting for 2.47 billion USD, according to a Vietnam Economics Times newspaper report quoting figures from the Ministry of Agriculture and Rural Development. 


The figures also revealed a year-on-year increase in the value of exports from the farming sector by 5.7 percent, to 11.4 billion USD. The same was true for the fishing sector, which registered a 25.4 percent year-on-year increase to 4.95 billion USD, and the forestry sector, which posted a 12.7 percent year-on-year increase to 3.87 billion USD.

Ministry officials revealed that in the first eight months of the year, the average export price of Vietnamese rice rose by 3.1 percent to 452.3USD per tonne compared with that of the same period last year. 

But the average export volume of rice fell by nine percent to 4.44 million tonnes, and the average export value of the commodity likewise fell by 5.3 percent to 2.01 billion USD.
 
 
Agricultural exports increase by 12 percent in eight months
 
 
During the period, Vietnam experienced a sudden increase, estimated to be 2.8 times more in both volume and value, in its rice exports to the Philippines, making the latter its second largest export market at 23 percent of total export volume.

China is still the largest export market for Vietnamese rice, accounting for 36.18 percent of total export volume in the first eight months of the year.

Ministry officials revealed that rice exports passing through the border to China slowed down in the past two months after the latter tightened its restrictions on rice imports, thereby sparking an increase in the price of the country's rice exports.

The Vietnam Food Association said rice exports to China via large contracts were ongoing since the early part of this year and were expected to reach a total of 1.1 million tonnes.

The association predicted the national export volume of rice to reach 1.9 million tonnes in the third quarter, 1.4 million tonnes in the last quarter and 6.3 million tonnes for the entire year, as a result of the high demand for rice exports in the Philippines, Indonesia and Malaysia.

The ministry reported that coffee exports in the first eight months gained a year-on-year increase of 26.8 percent in volume to 1.22 million tonnes and 22.3 percent in value to 2.53 billion USD.

But the export volume represented only half of that in May, and this was attributed to a low supply of coffee from farmers and enterprises since April.

Meanwhile, exports of cashew achieved a year-on-year surge of 13.9 percent in volume to 188,000 tonnes and 15 percent in value to 1.22 billion USD. The US, China and Netherlands remained the three largest cashew export markets for Vietnam.

In the first eight months, pepper exports also jumped by 23.9 percent in volume to 126,000 tonnes and 38.2 percent in value to 926 million USD compared with that of the same period of last year. The four largest export markets for Vietnamese pepper are the US, Singapore, United Arab Emirates and India, accounting for 45.73 percent of total export value.

The exports of seafood products reached 4.95 billion USD in the first eight months, or 25.4 percent more than that of the same period of last year.

The US remained the largest export market for seafood products, with a total export value at 973.8 million USD, a 38.6 percent year-on-year increase. Other large seafood export markets such as Japan, the Republic of Korea and China also saw an increase in value for the first eight months, the ministry said
VNA
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