Agricultural revenues on the up in Champassak
Agricultural revenues on the up in Champassak
Champassak province's Industry and Commerce Department is expected to reach export values of 1.32 trillion kip this fiscal year 2014-15, targeting markets in neighbouring countries.
Authorities are confident that agricultural products will play a significant role in gaining huge incomes for the province.
In the value of exports, they have set a target of 1.32 trillion kip from all exports of processed and unprocessed products.
This will include timber and processed wood products, valued at around 16.20 billion kip while non-timber forest products will be able to earn over 815 million kip for the rest of the year.
Most importantly, agricultural products will be the main income earner for the province, expected to bring in around 969 billion kip. Of this figure the income from coffee products will be over 807 billion kip.
In addition, contract farming products will also earn income of 145 billion kip while industrial products will earn at least 340 billion kip, according to a report from the department.
The department also noted that if compared to the last fiscal year, export value appears to have increased by almost 400 billion kip, after a figure of 935.7 billion kip (more than US$116.96 million) was recorded in the year 2013-14.
Coffee exports have been the bulk of exports from Champassak for many years now.
More than 6,770 tonnes of coffee bean was exported in the first six months of the 2013-14 fiscal year but the figures for the last six months are not yet available.
The province boasts the largest area of coffee growing land with more than 49,000 hectares in total. It has the capacity of producing more than 64,000 tonnes of coffee beans for both domestic and international markets.
Coffee products are mainly sold to Europe, Japan and Vietnam, meanwhile the other products such as rubber are sold to Vietnam, and rice is exported to the EU, China, Singapore and Indonesia, while vegetable products are selling in neighbouring Thailand.
As part of the endeavour to achieve the plan, the province is working alongside the industry and commerce offices of each district that shares borders with neighbouring countries in an effort to boost border trade.
At the same time, the department also pays attention to the management of imports and exports within the province in a bid to uphold the efficiency of trade facilities.
In addition, the department also provides Certificate of Origins (CO) as part of the stricter management of imports and exports.
COs are an international trade document proving that goods in a particular export shipment are wholly obtained, produced, manufactured or processed in a particular country.
