Good signs for farm product exports

July 27, 2012 | 11:22

(0) user say

Despite facing shrinking global markets, agro-forestry and fishery exports rose 12.4 per cent in the past seven months to reach $15.9 billion, according to the Ministry of Agriculture and Rural Development (MARD).

Most key farm products benefitted from steady growth in exports, except for rice and rubber.

Coffee exports hit 1.2 million tonnes and generated $2.5 billion, up 31.6 per cent in volume and 25.4 per cent in value.

Germany and the US remain Vietnam’s biggest coffee consumers, making up 12.9 and 12.4 per cent of the total, respectively.

Cashewnut and pepper producers saw the highest growth in exports over the period.

Vietnam shipped 120,000 tonnes of cashewnuts abroad, earning $828 million, up 36.5 per cent in volume and 19.2 per cent in value from a year ago. The country maintained its position as the world’s largest cashew producer.

Pepper and tea exports also rose more than 20 per cent and 4.2 per cent in value to fetch $546 million and $108 million respectively.

However, rice exports fell considerably, generating $2.1 billion from 4.6 million tonnes delivered. The average export price tumbled 6.6 per cent to $458 per tonne.

Seafood exports increased 6.5 per cent to gross $3.4 billion in the year to July. The US is Vietnam’s leading seafood importer, consuming 19.5 per cent of the total. It was followed by Japan at 17.6 per cent and the Republic of Korea at 8.3 per cent.

The MARD is helping businesses and farmers expand outlets for several farm products in difficulty such as cassava, sweet potatoes, and coconuts.

MARD experts say exports of farm product are likely to increase in the remainder of the year as the global economy is expected to ride out the recession period, driving up consumer demand.

Vietnam aims to earn $26.5 percent from agro-forestry and fishery exports in 2012.

VOV

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional