Can Tho City posts strong 9-month export growth
Can Tho City posts strong 9-month export growth
Businesses in the Mekong Delta city of Can Tho have enjoyed good export growth, with sharp increases in the shipments of rice and aquatic products.
These products make up more than 70 per cent of local total export value.
According to the Can Tho Department of Industry and Trade, the city’s goods and services export revenue reached US$1.27 billion in January-September, up 16.3 per cent year-on-year. Of that sum, goods exports were estimated at $1 billion, up almost 17 per cent from a year earlier.
Some 638,100 tonnes of rice worth $261.9 million were shipped abroad, up 22 per cent in volume and 19.6 per cent in value year-on-year. Meanwhile, 117,000 tonnes of aquatic products were exported, bringing home $378.7 million, up 15 per cent and 4.8 per cent respectively.
Other products with good growth included processed agricultural products ($55.4 million, up 24.4 per cent), steel products ($17.3 million, 46.7 per cent) and pharmaceuticals ($12.8 million, up 33.7 per cent).
Deputy director of the municipal department Duong Nghia Hiep said on Wednesday that poor rice export figures in the first half of the year were attributed to fierce competition with rice from Thailand. However, the situation has improved since June, especially in September.
Several Can Tho businesses have won contracts to ship rice to the Philippines, Singapore and Indonesia, he noted, forecasting a positive export outlook for the rest of the year as several companies are negotiating new contracts.
The export of catfish and shrimp products have also been growing rapidly since early September. Many shrimp processors face a material supply shortage and have to import raw materials from Bangladesh and India to fulfill their contracts.
Meanwhile, catfish exports have thrived thanks to China, a new and undemanding market with considerable demand, Hiep said.
He predicted that catfish and shrimp exports to European countries are likely to increase strongly after September to satisfy demand during the year-end holidays.
