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Vietnam to get $26.4 billion from farm exports in 10 months

Staff Writer |
Vietnam's export value of agro-forestry-fishery products in the first 10 months of 2016 is estimated to reach $26.4 billion.

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This is a year-on-year increase of 6.3 percent, according to the Ministry of Agriculture and Rural Development (MARD).

In October alone, the export value is estimated at $2.75 billion, said MARD in its latest statistics report.

Besides rice, Vietnam is estimated to witness growth in most of its agricultural export products.

During 10-month period, the country is likely to earn $1.9 billion from exporting $4.2 million tons of rice, down 16.9 percent in value and 21.2 percent in volume year-on-year.

The average export price of Vietnamese rice stood at $449 per ton, up 4.8 percent year-on-year.

China continued to be top importer of Vietnamese rice, with 35.4 percent of the market share.

From January to September, Vietnam sold 1.35 million tons of rice worth $613.8 million to China, down 23 percent in volume and 13.9 percent in value year-on-year, said MARD.

Other markets that see plunges in Vietnam's rice imports include the Philippines, Malaysia, Singapore, the United States and Cote d'lovior among others.

During the January-October period, Vietnam is forecast to rake in $2.76 billion from shipments of 1.5 million tons of coffee, up 25.4 percent in value and 40.2 percent in volume year-on-year.

At the same time, exports of pepper are forecast to reach $1.29 billion from 159,000 tons, up 15.3 percent in value and 35.7 percent in volume year-on-year.

Meanwhile, cashew exports will bring Vietnam $2.33 billion, up 16.6 percent year-on-year.

In the first 10 months, Vietnam's seafood exports see a year-on-year increase of 5.9 percent to $5.7 billion while forestry products fetched $5.8 billion, up 0.1 percent year-on-year, said MARD.

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