US to increase imports of Vietnam’s farm produce
Breakthrough in the exports of agricultural products
Despite a sharp increase in volume, export turnover was just equal to last year’s first four-month figure.
Fishery products in April hit US$550 million, bringing total export value in four months to US$1.9 billion (up 16.4 percent). Most of them were shipped to major markets such as the US, Japan, and the Republic of Korea.
However, domestic production remains in the doldrums as Tra fish breeders have suffered huge losses, caused by the soaring prices of feed, not to mention that epidemics are ravaging shrimp farms.
Forestry products also showed a sharp year-on-year increase in export turnover of 23.8 percent to US$420 million in April and US$1.5 billion in the first four months.
Only farm produce declined by 6.6 percent with export earnings from two million tonnes of rice staying at US$989 million, or just 73.7 percent of last year’s figure.
Meanwhile, coffee exports in the reviewed period dropped by 5.6 percent in volume and 6.5 percent in value, to 660,000 tonnes and US$1.4 billion, respectively. The declining prices of coffee have pushed many exporters to the brink of bankruptcy.
With coffee prices likely to go up in the remaining months of this year, businesses and farmers hope to make more profits.
Rubber is another export item that increased by 30.4 percent in volume but declined 12.9 percent in value, to 258,000 tonnes and US$754 million, respectively. This was attributed to a 33.4 percent fall in price compared to the same period last year.
With rubber prices going up in the world, exports to leading markets such as Malaysia and India are expected to pick up strongly (by 300 and 500 percent).
Tea, cashew, and pepper are the only products that enjoyed strong growth in both export volume and turnover.
In the first four months of 2012, tea exports reached 39,000 tonnes and earned US$55 million, (up 19.1 percent in volume and 16.3 percent in value) while cashew exports hit 53,000 tonnes and earned US$369 million (up 30.6 percent in volume and 25.4 percent in turnover).
Pepper exports saw the sharpest rise of 54.2 percent in value to US$326 million in the first four months of 2012.
Judging from the above mentioned figures there is high hope that agro-forestry-fishery exports will achieve considerable growth in the remaining months of the year.