Farming exports reach US$26.1 billion in first eight months

Thursday, 2020-08-27 16:10:19
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NDO - Vietnam’s farming exports in the first eight months of 2020 have been estimated at US$26.1 billion, down 0.9% over the same period of 2019, according to the Ministry of Agriculture and Rural Development (MARD).

The United States was the largest buyer of Vietnamese agricultural produce at US$6.3 billion, up 14.2% from a year earlier, followed by China at US$6.28 billion, down 10.1%.

Farming exports to the EU fell 2.2% to US$2.5 billion while exports to ASEAN declined by 11.4% to US$2.24 billion. Shipments to Japan also dropped 1.8% to US$2.2 billion.

Although decreases were recorded in many commodities, rice, vegetables, cassava, shrimp and timber products were some bright spots with revenue increases during the January-August period.

Rice revenues rose 10.4% to US$2.2 billion despite a 1.7% drop in export volume thanks to higher prices, averaging at US$488 per tonne.

Shrimp exports grew by 11.4% to US$2.4 billion and timber products rose 9.6% to US$7.3 billion.

To date, seven agricultural commodities have brought in over US$1 billion each.

According to the MARD, it is working with local governments and the ministries concerned to implement measures aimed at promoting agricultural exports amid the many developments of the coronavirus pandemic.