Home Coffee Business VIETNAM – Agr...

VIETNAM – Agriculture export earnings up 1.5% despite slump in coffee prices

HANOI – Export earnings from agricultural, forestry and fisheries products in the first 11 months of the year recorded a 1.5 per cent increase year-on-year, reaching US$25.2 billion.Nguyen Viet Chien, director of the Ministry of Agriculture and Rural Development’s Informatics and Statistics Centre, said the situation was not all positive because of a sharp drop in key exports, such as rice, coffee and rubber.

However, exports of pepper, cashews, timber and aquatic products had grown higher.

In the period, export turnover of key agricultural staples was estimated at $12 billion, a fall of 11.3 per cent from last year. Fishery exports rose 9.1 per cent and forestry products, 19.2 per cent.

The export of tea fell 5.3 per cent to 128,000 tonnes while the value was down 0.1 per cent at $206 million.

Pakistan remained Viet Nam’s largest tea importer, but its imports fell 10.7 per cent in volume and 6.5 per cent in value. Taiwan bought 2 per cent more tea than it did in the same period one year ago.

The volume of coffee exports fell 14.4 per cent during the period to reach 1.18 million tonnes worth $2.51 billion, a 24.4 per cent year-on-year decrease.

Germany and the United States continued to be Viet Nam’s largest coffee importers, accounting for 13 per cent and 10.8 per cent respectively.

Coffee exports to Russia grew 4.7 pert cent; to Britain, 4.7 per cent; and to Japan, 4 per cent from last year.

Source: VNS