Farming enjoys trade surplus
Farming enjoys trade surplus
Agro-forestry-fishery recorded a trade surplus of US$7.1 billion in 2015, despite a slight reduction in export revenues.
This year, the sector exported $30 billion worth in commodities, being a slight annual decrease of 0.8 per cent. Its import value, however, was estimated at $23 billion, up 5.5 per cent year on year.
Of note, cashew and peppercorns enjoyed higher selling prices compared to 2014.
Viet Nam sold 328,000 tonnes of cashew nuts abroad, bringing in $2.4 billion. While the quantity grew just 8.3 per cent annually, the value increased by 20 per cent.
Likewise, peppercorn exports fell to approximately 135,000 tonnes, however, they saw a five-per cent revenue gain, with total revenues reaching $1.7 billion.
However, some major farming produce, such as coffee, rubber and rice, experienced falling prices in foreign markets.
According to Nguyen Nam Hai, General Director of the Viet Nam National Coffee Association, coffee suffered from highly volatile prices, which were high at the beginning of the year and have continuously fallen. Viet Nam exported 1.28 million tonnes of coffee, earning $2.5 billion, down 25 per cent in quantity and 28 per cent in value.
Rubber price also followed a downward trend in recent years without a hint of recovery.
Further, rice exports recorded a higher volume, at almost 6.7 million tonnes. However, falling prices caused a 2.9-per cent dent in revenues from last year.
Also, marine products generated $6.5 billion, down 17 per cent year on year. The fall was due to significant price decreases in major markets, such as the US, Japan and the Republic of Korea.
