Agro-forestry-fishery export picks up 9.1% in 11 months
The total export value of agro-forestry-fishery products from January-November expanded 9.1% year-on-year to reach USD 36.3 billion.
According to the Agro Processing and Market Development Authority (AgroTrade) under the Ministry of Agriculture and Rural Development, Vietnam was estimated to earn USD 18.1 billion from its main farming products (up 3.1%), US$8.1 billion from seafood (up 6.8%), US$0.51 billion from husbandry (up 13%), and USD 8.6 billion from main forestry products (up 18%).
In the period, some 5.7 million tonnes of rice were shipped abroad, bringing in USD 2.9 billion, increasing 5.6% in volume and 17.7% in value compared to the same period in 2017.
Although rice exports to China fell sharply (30%), the neighboring country remained the largest rice importer of Vietnam as it amounted to 24.1% of the market share.
Rice exports are likely to hit 6.15 million tonnes for the whole year, stocked up by rising purchase demands in some countries. Recently, Vietnam clinched a deal to ship 118,000 tonnes of 25% broken rice to the Philippines in its tender for imports of 500,000 tonnes of rice to refill its exhausted reserves.
Regarding coffee, the country raked in USD 3.3 billion from selling 1.73 million tonnes of the beans abroad, up 23.4% in volume and 3.2% in value year-on-year.
Coffee price in November fluctuated in line with the global trend. The price is forecast to experience a brief lulling period as Brazil’s bumper conilon robusta coffee crop is able to supply 4-5 million sacks for exports.
Pepper price continued to fall during the period, making export turnover slide 32.5% year-on-year to USD 718 million despite an increase in export volume. The same trend was seen in shipments of rubber and cashew.
Meanwhile, fruit and vegetable exports posted USD 3.5 billion, up 11.6% year-on-year.
The AgroTrade also said that Vietnam splashed out USD 28.8 billion importing agro-forestry-fishery products in the period, soaring 13.6% from the same period in 2017.