Ministry of Industry and Trade's commerce information centre forecasted that the country's export of rice, coffee and rubber in the remaining months of this year could continue falling in both value and quantity.
In the last two months, rice export is estimated at 700,000 tonnes worth US$287 million, a two fold increase in quantity and value against the same period of 2007, averaging at US$410 a tonne, down 35% compared with the average export price of January-October. Thus, the whole year's rice export will reach about 4.8 million tonnes, up 245,000 tonnes year-on-year. Due to a stagnation in the global demand, the price of agricultural products will reduce while the supply from Thailand and Vietnam will surge sharply, leading to a reduction in export prices.
Between November and December, Vietnam's coffee export will be 180,000 tonnes earning US$275 million, a drop of 16.7% in output and 25.8% in value against 2007. In the first ten months of 2008, the country exported 805,000 tonnes of coffee for US$1.67 billion, down 21% in output but up 9.2% in value y-o-y.
Rubber export in the last two months is estimated at 125,000 tonnes worth US$250 million, decreasing by 14.8% in output and 20.5% in value from 2007, with the average export price of US$2,000 a tonne, falling by 6.4% compared with 2007 and 26% compared with the average level of the first ten months. In January-October, Vietnam exported over 510,000 tonnes of rubber, bringing in nearly US$1.4 billion.
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