Export Growth of Farm Produce to Fall
Vietnam will witness a slowdown in the export rate of agricultural products in the coming months as output of key farm produce have been reduced by inclement weather, local Vietnam Economic Times newspaper quoted experts as saying.
Concerned agricultural products include coffee, rice, rubber and pepper, according to the local experts.
Experts also warned of a possible coffee imports, which may cost Vietnamese enterprises higher than earnings they can fetch from their outbound shipments.
In the first seven months of this year, exports of agricultural and forestry products were estimated to bring about US$3.7 billion to Vietnam, up 27 per cent against the same period last year. Of the revenue, key farm produce accounted for 90 per cent.
The country last year earned a total US$7.16 billion from shipping agricultural and forestry products abroad. The figure is expected to increase to US$8 billion this year and is set at US$11 billion by 2010 and US$16.5 billion for ten years later.
To this end, Vietnam is focusing on boosting production of items with big export advantages, establishing large-scale production zones attached to processing establishments and markets, and developing husbandry industry.
Another focus is now being put on building brands, registering product trademarks, improving quality, further tapping traditional markets such as China, the United States, Japan, and the European Union, while seeking new ones. (Vietnam Economic Times)
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