Vietnam’s farm exports to hit 17.8 bln USD in first 7 months

28.07.2016

Vietnam’s farm export revenue is expected to hit 17.8 billion U.S. dollars in the first seven months of 2016, up 5.1 percent year-on-year, according to the Ministry of Agriculture and Rural Development (MARD).

During seven-month period, the country is forecast to sell 2.93 million tons of rice to world market, earning 1.32 billion U.S. dollars, down 18.4 percent in volume and 14.4 percent in value year-on-year, said the ministry in its monthly statistics report.

China continued to top Vietnam’s rice exporting markets, accounting for over 35 percent of the market share, followed by Indonesia with 11.6 percent.

Markets witnessing high growth of rice exports include Ghana (up 41 percent year-on-year) and Ivory Coast (31.3 percent).

Besides, downward trend has been seen in several markets including the Philippines (down 54.3 percent year-on-year), Malaysia (59.2 percent) and Singapore (34.6 percent).

Meanwhile, the country is estimated to earn 988 million U.S. dollars from exporting 122,000 tons of pepper, up over 9 percent in value and 26 percent in volume.

Average Vietnam’s pepper export price went down some 13 percent compared to the same period last year.

The same happens to average coffee export price, with a drop of 15.6 percent year-on-year.

However, the item sees an increase of 38 percent in export volume and 18 percent in export value.

During the seven-month period, the country pockets 1.98 billion U.S. dollars from exports of 1.13 million tons of coffee.

Concerning rubber exports, Vietnam is likely to export 564,000 tons of rubber worth 705 million U.S. dollars, up 8.8 percent in volume but down 7 percent in value year-on-year.

Similarly, in January-July period, Vietnam exports 69,000 tons of tea worth 110 million U.S. dollars, up 8.8 percent in volume and down 2.1 percent in value year-on-year.

Meanwhile, cashew nut witnesses growth in both export revenue and volume. The country is projected to ship 189,000 tons of cashew nuts to earn 1.46 billion U.S. dollars, up 2.5 percent in volume and 9 percent in value year-on-year.

In the first seven months, Vietnam earns 3.65 billion U.S. dollars from seafood exports, up 3.3 percent year-on-year.

The United States, China and Japan are major consumers of Vietnamese seafood, wood and wood products in Vietnam, said MARD.

 


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