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VietNamNews

Farm export profits rise 11.4%

Update: September, 27/2014 - 09:39
Wood products are churned out for export at Nam Dinh Forestry Products Co. The country's farming, forestry and seafood sector achieved a $6-billion trade surplus in the first three quarters. — VNA/VNS Photo Danh Lam
HA NOI (VNS)— Viet Nam has earned US$22.7 billion in profits from the export of farming, forestry and seafood products in the first nine months of 2014.

The Thoi bao Kinh te Viet Nam (Viet Nam Economic Times) newspaper quoted the Ministry of Agriculture and Rural Development (MARD) as saying the profits represented an 11.4-per cent year-on-year increase, with farming products bringing in $12.7 billion or a 9.8 per cent increase; forestry products, $4.41 billion or 13.2 per cent; and seafood products, $5.65 billion or 21.6 per cent.

The ministry said the farming, forestry and seafood sector achieved a $6-billion trade surplus for the first three quarters of the year even as the sector spent $16.11 billion on imports, an 18-per cent year-on-year increase.

It added that in the first nine months, coffee exports experienced a 31.9-per cent year-on-year surge in volume to 1.35 million tonnes and a 27.9-per cent year-on-year surge in value to $2.81 billion.

The coffee crop for the calendar year 2013 to 2014 is expected to post a 15-per cent year-on-year increase in volume to 1.6 million tonnes and a nine-per cent year-on-year increase in value to $3.27 billion.

Pepper exports achieved a 24.5-per cent year-on-year surge in volume to 140,000 tonnes and a 41.9-per cent year-on-year surge in value to $1.06 billion. The price of pepper exports posted a 12.3-per cent year-on-year increase to $7,459 per tonne.

Cashew exports posted a 19.6-per cent year-on-year surge in volume to 225,000 tonnes and a 21.8-per cent year-on-year surge in value to $1.46 billion.

The price of rice exports posted a 3.3-per cent year-on-year surge to $453.7 per tonne, but posted a 5.2-per cent year-on-year decline in volume to 5.02 million tonnes and a 1.6-per cent year-on-year decline in value to $2.29 billion.

Since mid-September, the domestic rice industry entered into new export contracts with the Philippines and Indonesia, leading to an increase in the export production volume and domestic price of the staple.

According to the Plantation Department, Viet Nam has enough rice for export, including commercial varieties from the autumn-winter crop and the existing inventory.

Rubber exports likewise posted a 2.4-per cent year-on-year decline in volume to 705,000 tonnes and a 21.9-per cent year-on-year decline in value to $1.25 billion, as well as a 24-per cent year-on-year decline in price to $1,800 per tonne.

China and Malaysia remained the two largest export markets for rubber, but the ministry said it was expecting a reduction in rubber exports to both markets.

Wood and wooden products exports posted a13.5-per cent year-on-year increase in value to $4.41 billion. The value of forestry products exports to the United States posted a 14.41-per cent year-on-year increase while those to Japan posted a 23.71-per cent year-on-year increase, but those to China posted a 1.96-per cent year-on-year decrease.

The key export markets of the US, Japan and China accounted for 62.33 per cent of total national export value. Meanwhile, fisheries products exports posted a 21.6-per cent year-on-year increase in value to $5.65 billion. The US remained the largest export market for Vietnamese seafood, accounting for 22.8 per cent of total export value, followed by Japan with 14.58 per cent. — VNS


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