Agricultural product imports surge

Agricultural product imports surge

The import value of agricultural products in the first nine months of this year saw a year-on-year surge of 10 per cent to US$13.6 billion, said the Ministry of Agriculture and Rural Development.

Importers of cashew, fertiliser products and animal food have had a particularly successful year so far.

Raw cashew imports recorded a year-on-year surge of 78.1 per cent in volume to 495,000 tonnes and 67 per cent in value to $466 million, including 37,000 tonnes in September, earning $66 million.

During the first nine months of this year, the imports of animal food products experienced year-on-year growth of 39 per cent in value to $2.42 billion from Argentina, India and the US.

The increase in animal food imports was due to rising demand on the local market, where the domestic production of those products is still confronted with many limitations, the ministry said.

In the first nine months of this year, Viet Nam imported 1.33 million tonnes of corn worth $431 million, an increase of 2.7 per cent in volume and 8.7 per cent in value against the same period last year.

However, imports of some farming products saw reductions, including wheat, seafood and soybeans. The import volume fell 45 per cent for wheat, 3.1 per cent for seafood and 0.7 per cent for soybeans year-on-year.

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