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Farm exports to reach $16b
The Government has set a goal to attain a combined turnover of US$16 billion from agricultural, forestry and seafood exports this year, an increase of $700 million.
Since January 1, export prices for these goods have risen, but import markets are not seeing a stronger recovery, according to the Ministry of Agriculture and Rural Development.
This year, seafood exports should reach $4.5 billion, an increase of $200 million over last year, but the industry will see an increase of 10-15 percent in expenditures for salaries, materials and packaging.
According to experts, high interest-rate loans will be the main reason to restrict growth of the industry.
Last year, seafood companies only paid 0.53 percent per month, but this year the figure has tripled to 1.5 percent per month.
Meanwhile, the price of coffee, one of the major agricultural exports, has dropped 30 percent compared to the same period last year.
The global economic recovery has helped the growth of the rubber industry. However, 300 of a total of 500 local enterprises are focusing on the Chinese market, which could cause risks in case the world rubber market begins to fluctuate.
In Viet Nam, rice is considered the most important export product. Import demands from many countries have increased dramatically, but supply of rice is still limited.
Due to high production expenses and stable areas for cultivation, Viet Nam would not be able to produce more than 5.5 million tonnes of rice.
Early this month, the Prime Minister has asked related authorities and the Viet Nam Food Association (VFA) to carry out forecasts and reform the management system.
This year, VFA plans to set up a fund to support farmers. It would assist rice seed research and production, and improve the production system, with the aim of increasing the quality of rice and overseeing the price of rice if it plummets.
Other important work includes trade promotion in new potential markets, including the Middle East, North Africa, East Europe and the Commonwealth of Independent States (CIS).
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