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Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.

 

Vietnam's agro-forestry-fishery export earnings rise in first 7 months

Tuesday, July 29, 2014 > 09:17:56
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(Global Post)

Vietnam's agriculture-forestry- fishery sector is forecast to earn some 17.43 billion U.S. dollars from exports in the first seven months, up 11.8 percent year-on- year, Vietnam's Ministry of Agriculture and Rural Development ( MARD) said on Monday.

Of the agricultural export items, during the period, Vietnam is likely to ship abroad some 3.86 million tons of rice, worth 1.75 billion U.S. dollars, a decrease of 7.9 percent in volume and 4.8 percent in value compared to the same period in 2013, the ministry said in a monthly report posted on its website.

The prices of Vietnamese rice for exports continued to increase during the past weeks. The website of Vietnamese government on Monday quoted the information from the Vietnam's Industry and Trade Information Center (VITIC) under Ministry of Industry and Trade as saying that as of July 25, export price of Vietnamese rice hit the two-year record high.

Specifically, Vietnam's five-percent broken rice increased over six percent over the previous week to 445-460 U.S. dollars per ton.

During the first six months, the average export price posted at an average of 452 U.S. dollars per ton, up 2.4 percent over the same period in 2013.

China remained Vietnam's biggest rice importer during the period with 39.11 percent of market share, followed by the Philippines with 21.03 percent, Ghana 4.59 percent and Singapore 3. 5 percent, said MARD.

Like rice, during the first seven months, Vietnam also witnessed a decrease in rubber exports, with 10 percent down in volume and 32.3 percent down in value year-on-year.

Average rubber export price during January-June stayed at 1,870 U.S. dollars per ton, a decrease of 25.76 percent year-on-year.

The volume of rubber exported to China and Malaysia, the biggest markets for Vietnam's rubber, saw declines of 23.6 percent and 13.41 percent, respectively, during six-month period.

Rubber export value to the two markets also decreased by 42.61 percent and 41.32 percent, respectively, said MARD.

Exports of other agricultural products including coffee, cashew nut and pepper are expected to post increases in volume (26.9 percent, 15.7 percent, and 28.6 percent, respectively) and in value (21.9 percent, 17.5 percent, and 41.8 percent, respectively) over the same period last year.

In overall, exports of major agricultural products during the first seven months of 2014 are forecast to reach 8.31 billion U.S. dollars, up 5.9 percent year-on-year, said MARD.

Meanwhile, export revenue of forestry products in seven-month period is likely to reach 3.52 billion U.S. dollars, up 13.2 percent year-on-year.

Most of Vietnam's wood markets, including the United States and Japan--the two biggest importers, witnessed increases, while exports to China fell by 1.38 percent year-on-year.

The United States, Japan and China made up over 66 percent of Vietnamese wood exports during the period.

In the first seven months, fishery sector is expected to bring in revenue of 4.2 billion U.S. dollars, up 24.5 percent over the same period in 2013.

The United States remained the biggest importer of Vietnamese fishery products, accounting for 22.65 percent of the market share.


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