Farm export projected at US$26.5 bil. in 2012
By Thuy Dung - The Saigon Times Daily
HCMC – Despite facing more technical barriers in importing countries, Vietnam expects to obtain US$26.5 billion from the exportation of agro-fishery-forestry products, a 6% year-on-year increase, said Diep Kinh Tan, deputy minister of Agriculture and Rural Development.
The country earned more than US$13 billion in agro-aqua-forestry products exports in the year’s first half, up 10% year-on-year. Agro-products accounted for US$7.4 billion of the total while seafood and forestry items contributed US$2.9 billion and US$2.3 billion respectively.
All key agro-products but pepper declined in export price in the six-month period. In particular, rubber tumbled 33% in the first quarter but bounced back in the second quarter but was still down 28.5%, at a little more than US$3,000 a ton.
Pepper scored a 39.3% surge in export price in the first quarter and rose to US$6,771 a ton in the following quarter whilst there was a slight decline in export prices of other commodities such as cashew, coffee, tea and rice.
Meanwhile, agricultural material import increased by 7% to US$8.1 billion in January-June. For instance, the country imported 1.4 million tons of fertilizer worth US$654.8 million and spent US$344.5 million on pesticide and material imports.
With the world economy forecast to improve in the second half, the agriculture ministry expects agro-fishery-forestry products export will bring in US$26.5 billion in all of 2012.
The ministry is seeking Government approval for a policy that supports struggling husbandry and seafood farming. It has also urged commercial banks to offer low-interest loans for agriculture businesses.
Farm products sales on the local market stayed low in January-June, leading inventories to further build up, according to the ministry.