Agricultural exports up

Revenue from agricultural exports in March is estimated at US$1.1 billion, raising the sector’s export turnover in the first quarter to US$3.4 billion, a year-on-year increase of 56 percent, according to the Ministry of Agriculture and Rural Development.

During the reviewed period, most agricultural products increased in both volume and value due to market and price advantages, the ministry said.

The country shipped 504,000 tonnes of coffee abroad, and earned US$1 billion, up 46.1 percent in volume and two times in value compared to the same period last year.

In the first quarter, coffee exports hit a record high of over US$1,990 per tonne, while the price of coffee in the domestic market also reached VND47,000 per kilogram.

The US, Belgium and Italy were Vietnam’s major coffee importers.

Vietnam earned US$798 million from exporting 179,000 tonnes of rubber, a rise of nearly 45 percent in volume and 2.5 times in value. The average price was US$4,466 per tonne.

The rubber industry retained its position in large markets, with China taking over 62 percent of the market share.

In the first three months of this year, the country shipped 600,000 tonnes of rice abroad, raking in US$300 million. Indonesia was still Vietnam’s largest rice consumption market, accounting for nearly 40 percent of the country’s total rice exports.

Vietnam also exported 28,000 tonnes of cashew nuts worth US$194 million, a drop of 9.8 percent in quantity and an increase of 21.7 percent in value. However, the sector is running short of raw material.

Tags: Vietnam Agricultural exports