Vietnam’s 10M agro exports at $26.4 billion


Total agriculture, forestry and fishery export turnover in October was $2.75 billion, bringing the ten-month figure to $26.4 billion, an increase of 6.3 per cent year-on-year, according to the Ministry of Agriculture and Rural Development.

Agricultural export turnover in the ten months reached $12.5 billion, up 7.8 per cent year-on-year, while fisheries totaled $5.7 billion, up 5.9 per cent up, and forestry $5.8 billion, a slender 0.1 per cent increase.

Coffee exports saw the highest increase, of 40.2 per cent in quantity and 25.4 per cent in value. October coffee exports were 121,000 tonnes worth $246 million, bringing the quantity exported in the first ten months to 1.5 million tonnes worth $2.76 billion.

Pepper also recorded strong growth, of 35.7 per cent in quantity and 15.3 per cent in value. October volumes were estimated at 12,000 tonnes worth $93 million, for ten-month figures of 159,000 tonnes and $1.29 billion.

Fishery was a bright spot for the sector as it contributed the most. Exports in October reached $687 million, for $5.7 billion in the first ten months, a 5.9 per cent increase year-on-year.

The US, Japan, China, and South Korea remained the four largest markets for Vietnam in the first nine months, accounting for 54.1 per cent of total export value. China recorded the strongest increase, of 51.1 per cent, followed by the Netherlands with 14.4 per cent, the US 14.3 per cent, and Thailand 10.8 per cent.

Products such as rubber, tea and cashew nuts increased both in quantity and value in the first ten months. Figures for rubber increased 15.8 per cent and 4.5 per cent, respectively, tea 6.6 per cent and 3 per cent, and cashew nuts 5.8 per cent and 16.6 per cent.

Rice continued to decline in the first ten months, however, by 21.2 per cent in quantity and 16.9 per cent in value. October rice exports were estimated at 368,000 tonnes worth $164 million, for ten-months figures of 4.2 million tonnes and $1.9 billion.

Export turnover in agriculture, forestry and fishery was estimated at $23.3 billion in the first nine months, a 6 per cent increase compared to same period of 2015. Export value of agricultural products was estimated at $11.1 billion, up 7.2 per cent, fishery $4.9 billion, up 4.3 per cent up, and forestry $5.1 billion, equal to the same period of last year.

In the first nine months coffee, fisheries, cashew nuts, pepper and rubber all increased in quantity and value. Conversely, main export products such as rice, wood, wooden products, and manioc products saw significant declines in quantity and value. Coffee saw the strongest growth, of 38.9 per cent in quantity and 22.1 per cent in value.


Photo: CBR Investment AG