Vietnam gains high farm export sales

30-May-2012 Intellasia | Saigon Times Daily | 7:01 AM Print This Post

The nation has this month earned an estimated $2.3 billion in agro-aqua-forestry products exports, taking the total in the first five months to nearly $10.9 billion, up by 10.1 percent year-on-year, the government said on its website (chinhphu.vn).

According to the Ministry of Agriculture and Rural Development, except for rice and rubber that are slightly down in export volume and value, other agri-products have seen a pickup in demand of foreign buyers.

Farm produce exports in the year to date have fetched $6.1 billion, a year-on-year rise of 2 percent. For instance, the volume of rice export in January-May has reached around three million tonnes worth $1.4 billion with the average export price of $470 a tonne.

Rice export markets have changed considerably, with China emerging as the biggest buyer. The volume shipped to China has surged by 4.4 times in volume and around four times in value versus the same period last year.

Local exporters have been trying to seek new importers to replace the present traditional markets. Africa, including Ivory Coast, Ghana and Senegal, has become a key consumer of the country’s low-grade rice.

Coffee exporters over the past five months have shipped 860,000 tonnes worth roughly $1.8 billion, a pickup of 7.8 percent in volume and 3 percent in value compared to the year-ago period. Germany and the US, Vietnam’s two biggest coffee markets accounting for 13.9 percent and 12.8 percent of the country’s total export volume respectively, have increased imports from Vietnam.

Meanwhile, rubber consumption by big foreign buyers has remained strong, with shipments to China adding 16.8 percent in January-May, Malaysia with a three-time rise and Taiwan with a surge of 61 percent. However, rubber prices have dipped to a five-month low, thus affecting the nation’s export value.

Over the past five months, the country has exported 317,000 tonnes of rubber valued at $952 million, up by 35.2 percent in volume but down by 7.2 percent in value. The average export price stands at $3,000 a tonne, dipping by $1,365 year-on-year.

Exports of other products such as tea, pepper and cashew have remained stable.

Even though exporting seafood to European countries is facing many difficulties, exporters this month have brought home $500 million, raising the total in the year to date to $2.3 billion, up 9.8 percent year-on-year.

 


Category: Economy

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