January sees 10 percent fall in farm exports
Export turnover of farm products nationwide for the very first month of this year reached a modest US$2.32 billion, reducing by 9.7 percent from one year ago, according to the Ministry of Agriculture and Rural Development.
Several export staples such as coffee, rubber, tea, pepper, and cassava have plunged with rubber exports seeing the steepest reduction of 32.8 percent to hit US$199 million.
However, the situation may be better next month as exports to some major markets including India , Malaysia and China are increasing.
Coffee exports during the month were estimated at 165,000 tonnes, raking in US$323 million, down 24.7 percent in volume and 29 percent in value.
On the other hand, the export of rice hit 517,000 tonnes, earning US$243 million, up 16.4 percent in volume and 19.5 percent in value.
China took the lead in importing rice from Vietnam, accounting for 31.1 percent of the country’s total rice export whilst many traditional markets including Malaysia and the Philippines saw falls in both volume and value.
The export of aquatic products during the month maintained its rising momentum with US$552 million, up 13.9 percent against last year.
Given the overall fall, the Agriculture and Rural Development Ministry has guided relevant sectors in boosting exports with the focus on heightening quality and added value in parallel with ensuring supply for the domestic market, particularly in the upcoming Tet holiday when demands for food and foodstuff surge.