Agricultural exports rise by 16% in January

HA NOI — Viet Nam earned US$1.16 billion from agro-forestry and seafood exports in January, a rise of 16 per cent compared with the same period last year.

Increased earnings have been attributed to a rise in global prices.

According to the Ministry of Agriculture and Rural Development Ministry, the total export value included $636 million from farming product, $235 million from fisheries products and another $235 million from forestry products.

Rice exports brought in $161 million, the ministry said.

The Viet Nam Food Association predicts that the rice-export price will continue to rise due to increased demand on the world market.

In addition, the Philippines’ decision to open up bidding for rice contracts to outside countries would boost Vietnamese exports.

Meanwhile, exports of coffee, cashew nuts and rubber were worth $193 million, $88 million and $75 million, respectively.

This year, the ministry hopes the export value of agro-forestry and seafood products will reach $16 billion, an increase of 15.4 per cent over 2009.

In the first month of the year, the country imported fertiliser worth $43 million; milk products worth $6 million, and vegetables and fruits worth $25 million.

The ministry said the value of agricultural, forestry and aquatic exports exceeded the yearly target last year. The export value in 2009 reached $15.3 billion – $1.3 billion above the yearly target but lower than the $16.52 billion export value in 2008. — VNS