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Q1 agri exports up 3.1%

Released at: 14:56, 28/03/2016

Q1 agri exports up 3.1%

$6.73 billion of agriculture, forestry and fishery products exported in opening quarter.

Agriculture, forestry and fishery exports in the first quarter were estimated at $6.73 billion, a year-on-year increase of 3.1 per cent, according to the Ministry of Agriculture and Rural Development.

Vietnam shipped some 1.59 million tonnes of rice and earned $692 million, up 41.6 per cent in volume and 40.8 per cent in revenue against the same period last year.

Indonesia emerged as Vietnam’s largest rice importer, with 31.42 per cent, followed by China with 17.15 per cent.

Strong growth markets included the Philippines and Malaysia while sharp falls were seen in Ivory Coast and Singapore.

The value of fishery exports in the first quarter was calculated at nearly $1.36 billion, rising 1.7 per cent from 2015. Accounting for 51.84 per cent of the market share, the US, Japan and China remained Vietnam’s largest markets.

Overseas shipments of 479,000 tonnes of coffee earned $808 million, for annual gains of 30.2 per cent and 5.7 per cent, respectively.

In stark contrast, the volume of tea exports fell 5 per cent compared to the same time in 2015, to 23,000 tonnes. Revenue was also down 10.2 per cent, to $35 million.

Vietnam also spent $5.31 billion on agriculture, forestry and fishery imports in the first quarter, down 3.9 per cent year-on-year.

Source: VNA

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