Vietnam’s export turnover of agro-forestry fisheries products gains nearly $3.6b in Jan-Feb

Thanks to the high export prices, Vietnam’s export turnover of agro-forestry fisheries products is estimated to reach $1.5 billion in February, bringing the total figure in Jan-February to approximately $3.6 billion, rising 50.7 percent against the same period last year, according to the Ministry of Agriculture and Rural Development.

In details, the country’s seafood product export reached $400 million and the figure in Jan-February at $835 million, up 54.4 percent year-on-year.

Wood and wooden product export fetched about $200 million in February and it was $548 million in Jan-Feb, a year-on-year rise of 17.6 percent.

Vietnam’s big buyers are still the US, Japan, China and Korea with about 63.7 percent of the country’s total export turnover.

Vietnam’s export turnover for key agricultural products earned $816 million in February and it was $2 billion in first two months of this year, up 57.5 percent year-on-year.

Coffee is posting the highest growth in export value after two years of facing hardships. Currently, the export coffee price is at the record during past 13 years. Thus, Vietnam’s coffee export increased only 2.2 percent in volume but growth in value at 40.4 percent from the same period last year. Particularly, in February, the country exported 80,000 tonnes of coffee, earning $155 million, and the figure during the first two months this year at 225,000 tonnes for $438 million. The average coffee export price is at $1,946 per tonnes, increasing 38.5 percent against the same period last year. By the end of this year, the country’s coffee export turnover is expected to reach $2.4-$2.5 billion. During the first half of February so far, the coffee price in the domestic market has always been at high level of 43,000 dong per kilogram.

Following coffee, rubber is also showing the growth prospect.
Vietnam’s rubber export in February is estimated at 30,000 tonnes worth $135 million and the figures in Jan-February were at 106,000 tonnes valued at $467 million, rising 38.2 percent in quantity but 2.4 fold increase in value from the same period last year.

Meanwhile, Vietnam’s rice export in February reached 600,000 tones for $310 million and in first two months this year, the figures were 1.1 million tonnes valued at $592 million, rising 55.6 percent in quantity and 44.5 percent in value year-on-year. The average rise export price slipped slightly 3.2 percent y-o-y.

The country’s export of pepper and cashew still kept the growth momentum thanks to the selling price increased strongly to the record high. The pepper export price is approaching to $5,000 per tonne and the cashew export price exceeded the threshold of $7,000 per tone. In February, Vietnam’s cashew export is estimated to reach 6,000 tonnes, earning about $30 million, bringing the total figures in Jan-February to 11,000 tonnes for $53 million, falling 22.6 percent in quantity but increasing 23.4 percent in value year-on-year.

The pepper export price is also at the record of $4,905 per tone, a year-on-year rise of 57.5 percent. Vietnam’s three big buyers are still the US (accounting for 18.3 percent), Germany (13.7 percent) and Netherlands (8.9 percent). In first two months this year, Vietnam exported 24,000 tonnes of cashew nut worth $166 million, up 16 percent in quantity and 55.2 percent in value y-o-y. The price of cashew nut reached $7,129 per tonne, rising 32.1 percent y-o-y and up over $1,000 per tone against the average price in 2010.

Meanwhile, Vietnam’s import spending on materials, fertiliser and agro-forestry and fisheries in February was $1 billion, bringing the total figure in Jan-February to $2.3 billion.
Thus, the country’s export surplus for agro-forestry and fisheries products sector in Jan-February was $1.3 billion.

 

Category: Business