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Agricultural, forestry and fishery exports reach new high amid pandemic

There is one month to go before year-end but eleven-month agro-forestry-fishery exports have almost hit the annual target for 2021, reaching nearly US$43.5 billion, an all-time high that far exceeds 2020.

Eleven-month agro-forestry-fishery exports reach a new peak despite the ongoing pandemic. The annual target of US$44 billion is within reach. Photo

Exports in November alone reaching $4.2 billion is a sign of the agro-forestry-fishery recovery after the lockdown, representing a year-on-year increase of 8.9 per cent. Such positive results mean the annual target of $44 billion for 2021 is feasible.

Specifically, exports of main agricultural products were estimated at over $19.3 billion, rising 13.7 per cent compared to the previous year; main forestry products at around $14.3 billion, rising 20.9 per cent; fishery products at over $7.9 billion, rising 3.5 per cent; livestock production at $393 million, rising 4 per cent; and production input at more than $1.5 billion, rising 25.9 per cent.    

The rise in export value can also be seen in rubber, cashew, rice, and cassava products. Notably, rubber export went up by 40.5 per cent, rice 7.3 per cent, cashew 14.6 per cent, and cassava products up 23 per cent.

Despite a fall of 6.7 per cent in export volume, pepper still saw a spike of 44 per cent in export value thanks to high price. Pepper is the commodity with the largest increase in price since the beginning of this year (more than 54 per cent). Likewise, a 4.4 per cent drop in volume and 11 per cent hike in price resulted in a 5.9 per cent rise in coffee export value.    

In regard to market share, eleven-month exports of Vietnamese agro-forestry-fishery products to Asian markets account for 43.1 per cent, American 29.6 per cent, European 11.5 per cent, African 1.9 per cent and Oceanian 1.6 per cent.

The US is Vietnam’s largest export market with a value of $11.9 billion. China comes second with $8.4 billion, and Japan third with $3 billion.   

In a bid to promote agro-forestry-fishery trade, the Ministry of Agriculture and Rural Development said it would urge its two working groups in the north and south to work with local Departments of Agriculture and Rural Development and relevant entities to remove obstacles in the production, circulation and consumption of agricultural products.

The ministry is also asking its specialised units to further open the agricultural market to other countries such as Peru, Brazil and Russia, and develop a plan to implement the project on trade defense improvement in the context of new-generation free trade agreements.

Additionally, those units are tasked with helping exporters to complete document preparation amid new regulations put in place in China, namely management and registration of firms producing, processing, preserving and trading foods exported to China, and a guide to registration of foreign firms.

In the future, the ministry will develop a plan to implement the cooperation agreement with the US on the control of illegal logging, draft a letter of objection to the DOC, USTR and US Department of Agriculture against the anti-dumping investigation of Vietnamese honey, and enter into negotiations on fishery subsidies within the WTO framework.

Source: Vietnam News 

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