Farm export profits rise 11.4%
Vietnam has earned US$22.66 billion in profits from the export of farming, forestry and seafood products in the first nine months of 2014.
The Ministry of Agriculture and Rural Development (MARD) said the profits represented an 11.4% year-on-year increase, with farming products bringing in US$12.7 billion or a 9.8% increase; forestry products, US$4.41 billion or 13.2%; and seafood products, US$5.65 billion or 21.6%.
The ministry said the farming, forestry and seafood sector achieved a US$6-billion trade surplus for the first three quarters of the year even as the sector spent US$16.11 billion on imports, an 18% year-on-year increase.
It added that in the first nine months, coffee exports experienced a 31.9% year-on-year surge in volume to 1.35 million tonnes and a 27.9% year-on-year surge in value to US$2.81 billion.
The coffee crop for the calendar year 2013 to 2014 is expected to post a 15% year-on-year increase in volume to 1.6 million tonnes and a 9%year-on-year increase in value to US$3.27 billion.
Pepper exports achieved a 24.5% year-on-year surge in volume to 140,000 tonnes and a 41.9% year-on-year surge in value to US$1.06 billion. The price of pepper exports posted a 12.3% year-on-year increase to US$7,459 per tonne.
Cashew exports posted a 19.6% year-on-year surge in volume to 225,000 tonnes and a 21.8% year-on-year surge in value to US$1.46 billion.
The price of rice exports posted an increase of 3.3% to US$453.7 per tonne, but posted a 5.2% decline in volume to 5.02 million tonnes and a 1.6% decline in value to US$2.29 billion.
Since mid-September, the domestic rice industry entered into new export contracts with the Philippines and Indonesia, leading to an increase in the export production volume and domestic price of the staple.
According to the Plantation Department, Vietnam has enough rice for export, including commercial varieties from the autumn-winter crop and the existing inventory.
Rubber exports likewise suffered a 2.4% decline in volume to 705,000 tonnes and a 21.9% decline in value to US$1.25 billion, as well as a 24% down in price to US$1,800 per tonne.
China and Malaysia remained the two largest export markets for rubber, but the ministry said it was expecting a reduction in rubber exports to both markets.
Wood and wooden products exports witnessed a rise of 13.5% in value to US$4.41 billion. The value of forestry products exports to the United States rose by 14.41% while those to Japan were up 23.71%, but those to China dropped 1.96%.
The key export markets of the US, Japan and China accounted for 62.33% of total national export value. Meanwhile, fisheries products exports jumped 21.6% in value to US$5.65 billion. The US remained the largest export market for Vietnamese seafood, accounting for 22.8% of total export value, followed by Japan with 14.58%.