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Export turnover of agricultural products down by US$1.3 billion
Export turnover of agricultural products excluding seafood and wood products fell by US$1.3 billion in the first half of the year, according to the Ministry of Agriculture and Rural Development (MARD) at a meeting in Hanoi on July 9.
Total export turnover is estimated to have reached US$7.6 billion, down 2.43 percent compared to the same period last year.
Agricultural products saw an export turnover of US$4.3 billion, down 0.39 percent while forestry and wood products achieved a turnover of US$1.2 billion, down 18.8 percent and seafood US$1.7 billion, down 11.24 percent.
The decline in agricultural exports is attributed to falling prices in the world market. Although some products such as rice, coffee, pepper and tea increased in terms of quantity, total export turnover decreased. Rice exports were estimated at 3.8 million tonnes, earning US$1.8 billion, up 57.44 percent in quantity but up just 24.6 percent in value. The average price of rice in the first five months was US$437 per tonne, down US$91 per tonne compared to the same period last year.
MARD said that almost all countries have been strengthening their protections for domestic production, leading to a tougher competitive environment. This will be the highest obstacle to export agro-forestry and seafood products in the remaining months of the year.
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