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Agricultural exports set to decline in Q4
Viet Nam's agricultural exports, including rice, aquatic products, pepper and coffee, are likely to decline in the last quarter of this year due to a shortage of raw materials which resulted from unfavourable weather in the nation's central region.
Current adverse weather conditions in the major rice exporting countries have decreased global rice output in the 2010-11 crop by 2.1 million tonnes compared to the US Department of Agriculture's last month estimates for the year.
This dip in supply in the global market has created favourable conditions for Vietnamese rice exporters.
The average export price in October reached US$467.3 per tonne, an increase of 4.7 per cent over the same period last year and the nation's rice exports totalled more than 5.56 million tonnes worth $2.35 billion in the first ten months of the year, according to the Vietnam Food Association.
However, last month's floods in the central provinces of Nghe An, Ha Tinh, Quang Binh, Quang Tri and Thua Thien Hue negatively affected their agricultural production and the water shortage in the south is also affecting productivity.
The Ministry of Agriculture and Rural Development estimates that Viet Nam will export just 1.04 million tonnes of rice during the October-December period, much less than 1.44 million tonnes in the first quarter and nearly 2 million tonnes in the second and third quarters.
Rice exports are projected to reach 6.29 million tonnes in 2010.
vietnamnews
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