Agro-forestry-fisheries products export gains 7.6 billion USD

According to the latest report of the Ministry of Agriculture and Rural Development, export turnover of agricultural, forestry and fisheries products in March is estimated at 2.9 billion USD, bringing the total export value in the first 3 months of this year to 7.6 billion USD, up 7.6% over the same period in 2016.

In the first quarter of 2017, the value of exports of main agricultural products was estimated at 4.2 billion USD, up 13.5% against the same period in 2016.

Export value of aquatic products reached 1.5 billion USD, up 3, 6% over the same period last year. The export value of key forestry products valued at USD 1.8 billion USD, up 12.4% over the same period a year ago.

During the period, rubber, tea and wooden furniture maintained a good growth rate, while export of other items such as rice, coffee and cashew nut witnessed a decrease.

The ministry's statistics showed that in March, Vietnam exported about 542,000 tonnes of rice, valued at 251 million USD, bringing the country's total export to 1.28 million tonnes in the first three months of 2017, earning 570 million USD, down 18% in volume and 17.3% in value compared to the same period last year.

China remains Vietnam’s largest rice importer, with a market share of 36%, followed by the Philippines with nearly 25% market share.

The export drops were strongest in Ghana, Hong Kong and Malaysia.

Currently, the price of Vietnam’s 5-percent broken rice ranges from 350 USD to 355 USD per tonne, down 5 USD against last week (according to FOB prices at Saigon Port). This decreasing price is due to a larger winter-spring crop.

At the beginning of this year, the Ministry of Industry and Trade repealed regulations limiting rice exporters because they were considered detrimental to the growth of the rice export sector.

The ministry expects to create a healthy market for enterprises investing in rice production and trade, and to ease farmers’ difficulties by boosting high-quality rice exports.

Meanwhile, the import value of agro-forestry-fisheries products is estimated at 1.96 billion USD in March, bringing the total import value in the first quarter of the year to 6.01 billion USD, up 14.3% over the same period last year.

The import of major agricultural products was estimated at 4.51 billion USD, up about 20.1% over the same period in 2016.

Translated by Phuong Dung

Source: Thien Tu-kinhtedothi