Farm produce exports rise strongly

HANOI – Total farm produce export volume this month inched up compared to the same period last year but total export revenue sharply increased thanks to better prices, according to the Ministry of Agriculture and Rural Development.

The ministry said the export value of agro-products this month is estimated at some US$2.4 billion, driving the total export revenue in the January-September period to US$18.9 billion, up 38.1% year-on-year, with rice making up the bulk. 

Vietnam shipped 750,000 tons of rice in September alone worth US$400 million, pushing export rice volume in the first nine months to an estimated 6.2 million tons worth US$3.1 billion, increasing by 17.4% in volume and 25.6% in value. On average, export prices of rice this year reached US$495 a ton, rising by 5.3% year-on-year.

In the first eight months of 2011, rice export to Vietnam’s top 10 export markets generated US$2.13 billion, accounting for 78.38% of the total revenue. Notably, rice shipments to Indonesia leapt by 30 times year-on-year to US$496 million.

Export turnover to other markets is also on the rise, seeing Malaysia growing over twofold to US$208 million and China growing over threefold to US$136 million. In contrast, the Philippines this year slid to the second position from the top importer, recording a drop of 38.8% in volume with US$433.23 million only, or less than half of last year.

To make up for the Philippines’ import decline, local exporters have boosted export to new markets, including Bangladesh, Senegal, Ivory Coast and Ghana, in a bid to maintain the trade.