Agricultural exports reached more than 23 billion USD

According to the Ministry of Agriculture and Rural Development, the total export turnover of agriculture, forestry and fishery in the first 7 months of 2019 is estimated at over 23 billion USD; The total import value of this sector is about 18 billion USD. Thus, the trade surplus of agricultural, forestry and aquatic products exported in the past 7 months was estimated at nearly 5 billion USD, up 11.9% over the same period in 2018.

Specifically, in July 2019, export turnover of agriculture, forestry and fishery in the first 7 months of 2019 of agricultural, forestry and fishery products was estimated at 3.55 billion USD;  in which, main agricultural products was about 1.64 billion USD, main forest products was about 893 million USD, aquatic products was about 785 million USD, livestock products was about 63 million USD.

In the first 7 months, the total export turnover of agriculture, forestry and fishery was estimated at 23.03 billion USD, up 2% over the same period in 2018; there were 8 product groups with export turnover of over 1 billion USD.

Specifically, the main agricultural products were estimated at 10.84 billion USD with 5 product groups reaching export value of over 1 billion USD: coffee reaching 1.8 billion USD, rubber reaching 1.1 billion USD, rice reaching 1.73 billion USD, cashew nut nearly 1.8 billion USD, vegetables 2.3 billion USD. Although many products have increased export volume over the same period, such as rubber, rice, cashew and pepper, due to a sharp decline in export prices of some products such as cashew, pepper, coffee and rice, the export turnover of agricultural products still decreased by 8.2% compared to the same period in 2018.

Exported livestock products was estimated at 388 million USD, up 6.3%. Exported seafood was estimated at US $ 4.68 billion, down 1% over the same period in 2018; in which pangasius was about 1.16 billion USD (down by 3.2%), shrimp was about 1.73 billion USD (down by 10.4%). The main export forest products were estimated at nearly 6.01 billion USD, up 17.3%.

The Agro-Processing and Market Development Authority - Ministry of Agriculture and Rural Development - also made a few notes. In particular, in the field of vegetables and fruits, the prices of many domestic fruits such as durian and jackfruit have risen again because Chinese traders have stepped up purchasing, due to the increasing demand for fresh fruits in China. Traders and businesses need to boost exports to free up on-going supply in mid seasons.

Regarding the cashew industry, in the context of the price of imported raw cashew tends to increase in the future and the price of cashew kernels is fluctuating, cashew processing enterprises should not sign future contracts when there is no interest or not having enough raw cashew in stock.

Regarding husbandry, the price of live hog is on the rise due to the exhausting supply due to the impact of African swine fever. Farmers should pay attention to preventive measures according to the instructions of the veterinary facility, only increase the herd when the conditions for disease prevention are met.

Also according to the Ministry of Agriculture and Rural Development, in July 2019, the import value of agriculture, forestry, fishery and agricultural materials was estimated at 2.5 billion USD, bringing the total import value in 7 months to about 18 billion USD, equaling 99, 6% over the same period in 2018. In particular, imports of fertilizers, pesticides and main agricultural products were about US $ 15.1 billion, equaling 99.7% over the same period last year.