Major farm produces enjoy rise in export value despite fall in volume

Harvesting mangos (Source: VNA)

Hanoi (VNA) – Major agricultural products enjoyed a rise
in export value in the first half of this year despite a fall in volume,
according to the General Department of Vietnam Customs.

As of mid-June, Vietnam exported 133,124 tonnes of cashew nut for 1.284
billion USD, a drop of 4.11 percent year-on-year in volume but a 20.71 percent
increase in value. Meanwhile, coffee exports fell 14.97 percent in volume and rose
11.5 percent in value.

Dang Hoang Giang, Vice President of the Vietnam Cashew Association said the
cashew sector’s productivity plummetted, forcing it to import large amounts of raw
cashew. Imported raw cashew nut in the first five months of this year rose 74.8
percent while import value increased 125.3 percent, he noted.

However, the price of exported cashew nut rose by 25 percent compared to
the same period last year to reach 9,500 USD per tonne, explaining the rise in
export value, he said. Giang also forecast that the situation will be the same for
the rest of the year, thus total export volume of 2017 may reach 350,000 tonnes
with total revenue of about 3.3 billion USD.

Giang said domestic consumption accounts for only 5-7 percent of total
cashew output. Once the Global Cashew Council announces the nutrition value of
cashew, the association will launch promotion programmes across the country,
aiming to boost domestic sales to 20-30 percent of total cashew nut production,
he said.

The fall in volume and rise in value is predicted to happen in coffee
sector also.

Nguyen Quang Binh, an expert in the sector said that coffee prices in
the rest of the year may drop slightly due to abundant supply, but will still exceed
last year’s average price.

The General Department of Vietnam Customs reported that the rubber
sector saw the highest growth in exports, with 411,960 tonnes of rubber shipped
abroad for more than 787,550 million USD, a surge of 63.23 percent in revenue
thanks to high price. In the first five months of this year, rubber price for
export reached 1,957 USD per year, close to a 60 percent rise over the same
period last year.

Among major farm produce, peppercorn suffered the sharpest decrease in
export revenue at 16.8 percent year-on-year despite a rise of 18.3 percent in export

Vice President of the Vietnam Pepper Association (VPA) Nguyen Thi Mai
Oanh said the decline was due to a slump in price caused by oversupply. She
also predicted the price will continue falling for the rest of the year,
leading to a fall in export value for the year. 

To survive and develop, domestic pepper farmers and businesses are trying
to improve product quality to meet the requirements of foreign markets. Along
with efforts to link exporters and farmers and renovate farming technology, the
Ministry of Industry and Trade and the VPA are working to build a trademark for
Vietnamese pepper, while expanding markets to promising countries in Eastern
Europe and Northern Asia.-VNA

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