Vietnam earned 6.44 billion USD from agro-forestry and seafood

Hanoi (VNA) - Vietnam earned 6.44 billion USD from agro-forestry and seafood
exports in the first five months of 2009, a year on year rise of just 1 percent.


Most products saw an increase in exports but total revenues suffered losses due to
falling prices caused by the current global financial crisis, reported the
Ministry of Agriculture and Rural Development.

The ministry’s figures show that coffee exports were up 37 percent in volume but
down 0.4 percent in value, just reaching 1 billion USD, while pepper dropped more
than 7 percent in earnings despite a 41 percent rise in volume.

Forestry and seafood products exports suffered the same fate during the period,
with turnovers hitting 1 billion and 1.36 billion USD, down 17 percent and 10
percent from the same period last year, respectively.

Rice recorded the highest and steadiest growth, fetching 1.5 billion USD between
January and May, a year on year increase of 17 percent.

The Philippines remains the largest importer of Vietnamese rice, making up
46.5 percent of the country’s total revenues. It is followed by Malaysia and
Iraq , which accounted for 10 percent and 6 percent of the total value.

Besides rice, tea was also a bright spot in the nation’s export picture, posting
a growth rate of 13.4 percent to reach 50 million USD.

Having anticipated the challenges, the ministry has adjusted its yearly target for
agro-forestry and seafood exports to 12.5 billion USD, or 3.7 billion USD lower
than last year’s figure.

Also due to the adverse impacts of the financial crisis, the agricultural sector
paid out less for imports, spending only 177 million USD on pesticides and 65
million USD on timber and wooden furniture, year on year drops of 29 percent and 46
percent, respectively.-Enditem