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Agro-forestry, seafood export earnings decline
The global economic decline has forced the prices of agro-forestry and seafood exports down despite an increase in volume, leading to a remarkable drop in the total value of exports.
In the first seven months of this year, Vietnam exported 4.4 million tonnes of rice, up nearly 50 percent. However, the country earned only just over US$3 billion, or a mere rise of six percent, due to a year-on-year decrease of 22 percent in the export price during the first half of the year.
In the same period, coffee exports rose by 21.6 percent in volume to hit 812,000 tonnes, but also saw a 14 percent decline in value, earning only US$1.2 billion.
The major importers of Vietnamese wooden product - the US, Japan and the EU - have tended to shift from high-end products to more affordable ones, thus reducing export earnings. In addition, protectionist policies put in place by importers have driven up the cost of raw materials.
However, seafood still showed signs of thriving with a slight rise in July and the prices of shrimp, basa and tra fish exports are forecast to recover in the near future.
vov
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