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Markets are in favour of agricultural product exports

   10/6/2010

As reported by the Ministry of Agriculture and Rural Development (MARD), the export value of agricultural, forestry and fishery products in August is estimated at USD 1.75 billion. Exports of agricultural products in 8 months made good results, particularly in the mid-years when the world market factors were beneficial to food items. Total export turnover in 8 months is estimated 12.2 billion USD, increasing by 20.1% over the same period in 2009. In particular, main agricultural products reached USD 6.5 billion, increasing by 16.6%; fishery reached USD 2.95 billion , increasing 12.9%; forest products reached USD 2.28 billion , increasing by 35.8% . The advantage of markets for agricultural exports is reflected in the price increases in many items. Specifically, the average export price of rice during 7 months reached 485 USD per ton, an increase of 4.8% over the same period in 2009. With this evolution, rice exports in eight months are estimated at 5 million tonnes with a turnover of USD 2.4 billion, increasing by 8.2% in volume but increased by 12.8% in value over the same period last year ago. According to the Ministry of Agriculture and Rural Development (MARD), as unfavorable weather changes in many places and rising wheat prices led many African countries to buy rice, the rice demand on world markets increased accordingly. However, the rice export target was nearly reached, so from now until the end of the year, exporters will not sign more contracts. However, the strongest price increase was found in rubber goods. Consumers’ demand continues to increase rubber export prices in Vietnam to more than 2 times over the same period last year, average prices in seven months reached USD 2,752 per ton. Estimated volume of rubber exports in the first 8 months was estimated about 417 thousand tons worth USD 1.15 billion, just in volume but approximately 89% increase in turnover over the same period in 2009. In contrast, the export price of coffee is slightly reduced, the average in first 7 months the price is only USD 1,415 / ton, reduced by 4.6% over the same period in 2009. The coffee price decrease does not stimulate exports of this product. The total volume of coffee exported in 8 months of 2010 is estimated at 840 thousand tonnes with a turnover of USD1.2 billion, reduced by 1.3% in volume and by 4.7 % in value over the same period. The remaining agricultural exports changes in general price increases. Tea export in 8 months in 2010 is estimated at 85 thousand tons worth USD124 million, increasing by 2.5% in volume but the value increased by 14.9% over the same period last year; the cashew export volume of first 8 months was about 120 thousand tons returning USD 656 million, increased by 5.2% in volume and by 25% in value (25%) compared with 2009. In past 8 months pepper exports reached 94 thousand tons with the total turnover of USD 312 million, although decreased by 2.9% in volume but increased by 35.1% in value over the previous year. Compared with goods items of the largest turnover - forest products and furniture, MARD said that exports of this product group this year also have more advantages upon the economy’s recovery, major import markets are growing from 10-200% over the same period in 2009. Meanwhile, seafood export has recorded strong growth of shrimps, which are supported by price increases over the same period. Shrimp exports in 7 months in 2010 reached 110.3 thousand tons with a value of USD 929.2 million, increasing by 15.5% in volume and by 19.9% in value over the same period in 2009. At the same time, exports of tra and basa fish are affected by falling prices, though volume increased. After seven months, Vietnam has exported 361 thousand tonnes of tra and basa fish, worth USD 774 million, increasing by 11.3% in volume and by 5.6% in value over the same period in 2009 Also in eight months of the year, the total value of imports of agricultural, forestry, fisheries and supplies raw materials to reach USD 8.5 billion, increasing by 28.9% over the same period in 2009. Thus, the agricultural sector continues to export surplus of about USD 3.7 billion in 8 months of this year.

CIS-MARD
10/6/2010

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