Vietnam's agricultural exports top $10 billion in first four months

By Bui Hong Nhung   April 27, 2016 | 11:34 am GMT+7
Vietnam's agricultural exports top $10 billion in first four months

The Ministry of Agriculture and Rural Development has reported that Vietnam’s agricultural exports touched $10.2 billion in the first four months of 2016, up 11 percent from the same period last year.

Farm products contributed $4.98 billion, up 13.5 percent, followed by seafood exports at S2.25 billion, up 4.3 percent. Key wood products brought in $1.97 billion, 6.3 percent higher than the first four months of 2015.

The ministry added that in April, Vietnam’s agricultural export value increased by 13.8 percent on year to reach $2.97 billion.

This month rice exports reached 510,000 tons worth $535 million. Compared to last year, export volume was up 11.8 percent while value also rose by 13.8 percent. However, in mid-April, rice export prices fell by $5 to $370 per ton amid global price hikes. China remained the key importer of Vietnamese rice, accounting for 31.54 percent of total rice exports, followed by Indonesia with 20.45 percent.

Vietnam exported more than 200,000 tons of coffee in April for $344 million, up 44.6 percent in volume and 18.2 percent in value. Some economic experts explained that the prolonged drought affecting global coffee output was the main factor behind the growth of Vietnam’s coffee exports.  Germany and the U.S. were the main markets, accounting for 15.9 percent and 13 percent of coffee export volume.

Data from the ministry also showed that Vietnam, the world's largest cashew exporter, exported 32,000 tons of the nuts in April, up 7.1 percent on year. Export value hit nearly $690 million, up 14.6 percent. The U.S. and China were the main recipients, taking up 29.3 percent and 18.5 percent respectively.