Surpassing US and China, Cambodian farm produce floods Vietnam

Cashew nuts, pepper, rice, bananas and mangoes from Cambodia have been flooding the Vietnamese market, turning the country into the biggest farm produce exporter to Vietnam in the last eight months.

Surpassing US and China, Cambodian farm produce floods Vietnam

As a farm produce export country which earns $40 billion a year from exports, Vietnam still has to import farm produce for domestic production and consumption. The US and China have been the biggest exporters to Vietnam for many years.

However, the Ministry of Rural Development (MARD) has reported that Cambodia has unexpectedly replaced the two countries as the biggest farm produce exporter, with $2.9 billion worth of farm exports to Vietnam in the first eight months of the year, accounting for 10 percent of Vietnam’s total farm imports.

Cambodia’s agencies reported that the country exported 2.38 million tons of unhusked rice, up by 86 percent compared with the same period last year and 24,476 tons of pepper.

It also exported 355,550 tons of cassava, or 75.7 percent of its cassava exports, and 140,000 tons of mango, or 86.8 percent of exports.

The other agricultural products including maize, banana and pomelo have also been exported to Vietnam in large quantities.

Vietnam imported 2.03 million tons of cashew nuts in the first 7 months of the year, worth $3.05 billion. Of this, 1.1 million tons, worth $1.83 billion, were from Cambodia, a sharp increase of 456 percent in quantity and 632 percent in turnover.

As such, Cambodia has become the biggest cashew nut supplier of Vietnam.

According to Vo Tong Xuan, a respected agriculture export, Vietnam has been importing farm produce from the country for many years. Cambodian farmers use good varieties, while the land is fertile, so their farm produce has high quality. Cambodian rice, for example, is favored by Vietnamese.

 

Xuan noted that there is a growing tendency of Vietnamese farmers going to Cambodia to lease agricultural land to cultivate cassava and other crops. This is because the agricultural land area in the country is large, while the rent is reasonable and the labor cost is lower than in Vietnam.

The farmers harvest farm produce in Cambodia and bring it back to Vietnam for sale. With this production model, the production cost is lower.

“That is why Cambodian farm exports have increased so rapidly,” Xuan said.

Dang Hoang Giang, Secretary General of the Vietnam Cashew Association (Vinacas), expressed his surprise about the unexpected rise in cashew nut imports, saying that the association is checking with its member companies.

The General Department of Customs (GDC) has sent a dispatch to customs agencies in 8 southern provinces on strengthening inspection on the origin of raw cashew imports from Cambodia in order to prevent trade fraud.

Tam An

Vietnam aims to become world’s farm produce granary

Vietnam aims to become world’s farm produce granary

The national digital transformation program says Vietnam will develop hi-technology agriculture with a focus on smart and precise agriculture, while increasing the proportion of digital agriculture in the economy.  

Farm produce pile up in south as farmers struggle to sell them amid COVID restrictions

Farm produce pile up in south as farmers struggle to sell them amid COVID restrictions

Farmers across the south and Central Highlands are struggling to sell their harvests due to COVID-19 restrictions on travelling and business...

 
 

Other News

.
Vietnam’s rice price surges, surpasses that of Thailand
Vietnam’s rice price surges, surpasses that of Thailand
BUSINESSicon  13/10/2021 

The export price of Vietnam’s 5% broken rice has soared recently, surpassing that of Thailand and far outstripping the rice prices of India and Pakistan, according to the Vietnam Food Association.

Local authorities urged to set green corridor for domestic flights
Local authorities urged to set green corridor for domestic flights
FEATUREicon  13/10/2021 

The first commercial flights have been provided in the new normal period. However, the application of different regulations in different localities have caused problems.

Commodity exports via e-commerce promoted during COVID-19 pandemic
Commodity exports via e-commerce promoted during COVID-19 pandemic
BUSINESSicon  13/10/2021 

Representatives from State management bodies and companies speak about the advantages and challenges Vietnamese businesses face in e-commerce, especially commodity exports.

VIETNAM BUSINESS NEWS OCTOBER 13
VIETNAM BUSINESS NEWS OCTOBER 13
BUSINESSicon  13/10/2021 

Vietnam grasps opportunities to expand agricultural export market

Tax cut proposed to stabilise domestic petrol price
Tax cut proposed to stabilise domestic petrol price
BUSINESSicon  13/10/2021 

Calls have been made for tax cuts to stabilise domestic fuel prices as global oil prices see continual increases.

PM says Gov't to stand with businesses during pandemic
PM says Gov't to stand with businesses during pandemic
BUSINESSicon  13/10/2021 

Prime Minister Pham Minh Chinh congratulated and sent his best regards to all Vietnamese entrepreneurs to mark Vietnam Entrepreneurs' Day (October 13) during a meeting in Hanoi yesterday. 

SOE equitisation slow this year due to COVID-19
SOE equitisation slow this year due to COVID-19
BUSINESSicon  13/10/2021 

The outbreak of COVID-19 in many localities has delayed the equitisation of State-owned enterprises (SOEs).

Unemployment, underemployment unprecedentedly high
Unemployment, underemployment unprecedentedly high
BUSINESSicon  13/10/2021 

The number of employed people in Q3/2021 fell sharply compared to the previous quarter and the same period of last year, while unemployment and underemployment rates increased to an all-time high.

Intel, Samsung eye fully running HCM City plants in late November
Intel, Samsung eye fully running HCM City plants in late November
BUSINESSicon  12/10/2021 

Intel Corp. and Samsung Electronics Co. are both aiming to resume full operations of their HCM City plants by the end of November.

FDI inflow into Vietnam still on upturn trend
FDI inflow into Vietnam still on upturn trend
BUSINESSicon  12/10/2021 

Despite impacts of the COVID-19 pandemic, the inflow of foreign direct investment (FDI) into Vietnam still rose 4.4 percent year on year in the first nine months of 2021 to 22.15 billion USD.

To have free trade zone, Hai Phong needs special mechanism
To have free trade zone, Hai Phong needs special mechanism
BUSINESSicon  12/10/2021 

Some National Assembly Deputies expressed their concerns about the establishment of a free trade zone (FTZ) in Hai Phong at a National Assembly Standing Committee session on October 11.

In new normal, businesses are afraid of ‘sub-licenses’
In new normal, businesses are afraid of ‘sub-licenses’
FEATUREicon  13/10/2021 

Most enterprises can now resume usual operations as Vietnam has entered the new normal period. However, their production and business have been obstructed by ‘sub-licenses’, or new regulations set by agencies.

Two thirds of HCM City industries reopen
Two thirds of HCM City industries reopen
BUSINESSicon  12/10/2021 

The number of enterprises reopening at export processing zones and industrial parks in HCM City has reached 66.8 per cent, while at the Saigon Hi-Tech Park the rate is 74.3 per cent.

Government signs decision on special investment incentives
Government signs decision on special investment incentives
BUSINESSicon  12/10/2021 

Standing Deputy Prime Minister Pham Binh Minh has just signed Decision No 29/2021/QĐ-TTg of the Prime Minister on special investment incentives.

Sugar stocks expected to benefit from trade remedies
Sugar stocks expected to benefit from trade remedies
BUSINESSicon  12/10/2021 

Sugar producers expect the 2021-2022 crop, which is starting from July 1, will be more prosperous. 

Vietnamese-born duo make world’s first sneakers from residual coffee grounds
Vietnamese-born duo make world’s first sneakers from residual coffee grounds
BUSINESSicon  12/10/2021 

More and more startups nowadays are committed themselves to finding innovative solutions to environmental problems. 

VIETNAM BUSINESS NEWS OCTOBER 12
VIETNAM BUSINESS NEWS OCTOBER 12
BUSINESSicon  12/10/2021 

Detailed policies needed to help firms get loans

Vietnam wood industry targets US$15 billion export revenue
Vietnam wood industry targets US$15 billion export revenue
BUSINESSicon  12/10/2021 

This year Vietnam targets earning $14.5 billion of export revenue from wood and forest products.

THACO completes purchase of RoK’s Emart hypermarket in Vietnam
THACO completes purchase of RoK’s Emart hypermarket in Vietnam
BUSINESSicon  12/10/2021 

THACO said it has completed the acquisition of hypermarket business in Vietnam of Emart Inc of the Republic of Korea

Vietnam's economic growth to recover from Q4: Economist
Vietnam's economic growth to recover from Q4: Economist
BUSINESSicon  11/10/2021 

The Vietnamese economy is likely to gradually recover from the fourth quarter of 2021 and escape the minus growth seen in the third quarter.

 
 
 
Leave your comment on an article

OR QUICK LOGIN