Can Tho city posts strong export growth in nine months
Businesses in the Mekong Delta city of Can Tho have enjoyed good export growth, with sharp rises in shipments of rice and aquatic products which make up more than 70% of local total export value.
According to the Can Tho Department of Industry and Trade, the city’s goods and services export revenue reached US$1.27 billion in January-September, up 16.3% year on year. Of that sum, goods exports were estimated at 1 billion USD, up almost 17% from a year earlier.
About 638,100 tonnes of rice worth US$261.9 million were shipped abroad, respectively increasing 22% and 19.6% year on year. Meanwhile, 117,000 tonnes of aquatic products were exported, bringing home US$378.7 million, up 15% and 4.8% respectively.
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Deputy Director of the municipal department Duong Nghia Hiep said on September 20 that poor rice export figures in the first half of the year were attributable to fierce competition with Thai rice. However, the situation has improved since June, especially in September.
Many Can Tho businesses have won contracts to ship rice to the Philippines, Singapore and Indonesia, he noted, forecasting a positive export outlook in the rest of the year as several companies are negotiating new contracts.
Exports of catfish and shrimp products have also been growing rapidly since early September. Many shrimp processors face a material supply shortage and have to import raw materials from Bangladesh and India to fulfill their contracts.
Meanwhile, catfish exports have thrived thanks to China, a new and undemanding market with considerable demand, Hiep said.
He predicted that catfish and shrimp exports to European countries are likely to increase strongly after September to satisfy demand at year-end holidays.