Vietnam’s agri export revenue rises in 8 months

Vietnam’s agri export revenue rises in 8 months

Ministry of Agriculture and Rural Development (MARD) reported to gain $18.1 billion of total export revenue from green products – forestry products – maritime products, up 9.7 percent year-on-year. The export output from rice in the first 8 months was estimated to reach 5.5 million tonnes, equal to $2.48 billion, up 0.5 percent in quantity and down 8.5 percent in value year-on-year.

MARD shared that the current rice export market has changed much, of which export revenue from China was 5.2 times in quantity and 4.4 times in value higher than that last year and became the largest export market of Vietnam while other big markets including the Philippines, Indonesia and Singapore decreased in both quantity and value.

According to the latest figures, export revenue from green -forestry – maritime products in the 8 months in 2012 tended to increase in comparison with the same period in 2011. Particularly, coffee export output in 8 months was estimated to reach 1.26 million tonnes, reaching revenue of $2.66 billion, up 31.9 percent in quantity and 26.3 percent in value year-on-year.

“Two biggest coffee importers of Vietnam which are the US (accounting for 12.5 percent) and Germany (12.4 percent) quite well increased in both quantity and value. Indonesia and Mexico market also sharply increased with respectively 9 times and 3.5 times higher than that in the same period in 2011,” MARD said. However, they also said that coffee export in the near future will decrease due to shortage of suppliers and resume at the start of 2012′s harvesting season.

About rubber products, MARD said that although its export quantity increased in some big markets, export value did not increase much due to low rubber export price. Rubber export output in the first 8 months was 595,000 tonnes, equal to $1.78 billion, up 34.5 percent in quantity and 29.1 percent in value.

According to the Ministry, Vietnam’s tea export situation is much brighter and Pakistan is the largest market with 16.5 percent of market shares. Tea export output in 8 months was 92,000 tonnes with revenue of $140 million, up 9.6 percent in quantity and 9.2 percent in value. The average tea price was $1,493 per tonne, approximately the export price for the same period last year ($1,492 per tonne).

Forestry products export revenue in 8 months was estimated to reach $435 million leading to a hit of $3.15 billion of total export revenue in 8 months, up 19.8 percent on year.

Maritime products export revenue in 8 months reached $4 billion, up 6.4 percent compared with the same period in 2011.

VnEconomy