Agro-forestry-fishery exports generate over 33 billion USD

• Agro-forestry-fishery exports fetch 12.4 billion USD in four months
• Agro-forestry-fishery exports decline slightly since 2018

Dragon fruits packaged for export.

The agro-forestry-fishery sector raked in 3.6 billion USD from exports in October, raising the total export revenue in 10 months to 33.18 billion, rising 1.6 percent from the same time last year.

According to the Ministry of Agriculture and Rural Development (MARD), forestry products were the best performers in the period as they brought home 9.04 billion USD, up 18.8 percent year on year and accounting for 27.2 percent of the total volume shipped abroad.

Strong growth was seen in the export of rubber (up 5.6 percent), tea (14.3 percent), cinnamon (32 percent), and rattan (40.6 percent).

In stark contrast, shipments of key agricultural products dwindled 7.4 percent to 15.25 billion USD, and those of seafood dropped 2.4 percent to 7.06 billion USD.

The ministry said a strong decrease in export price of several agricultural products like cashew, pepper, rice and coffee was the main factor leading to the fall in the revenue in the period.

Vietnam sold 2.3 billion USD worth of fruits and vegetables in the 10-month period, decreasing 1.3 percent from the same time last year. Most of the exports were destined to China where authorities have tightened regulations on chemical residue, food safety, and package material requirements.

China remained the largest importer of Vietnamese agricultural products as it made up 26.8 percent of the market share, followed by the US (21.7 percent), the EU (11.9 percent) and ASEAN (10.3 percent).

The MARD has forecast shipments of farm produce will face tough seas in the coming time, sparked by global trade slowdown and increasing trade barriers from the Chinese market.

The ministry will keep close watch on market development, and give detailed evaluation on Chinese policies on official exports and temporary imports for re-export at border gates.

Besides working with competent ministries and sectors to accelerate negotiations so as to stabilise traditional markets while seeking potential ones, the ministry will support local businesses to take full advantage of the signed free trade deals.