Livestock standouts amid weakening agricultural exports

Export of livestock products was a standout while shipments of key farming products dropped further last year, according to the Agro Processing and Market Development Authority.

Vietnam exported 65 million USD worth of livestock products last month, bringing the total livestock exports in 2019 to 710 million USD, up 10.6 percent from a year earlier. Livestock products were among the handful agricultural items experiencing growth last year.

Rice exports dipped further in 2019. Though the exported rice volume rose by 3.9 percent year-on-year to 6.34 million tonnes, the revenue plunged 9.7 percent to 2.97 billion USD.

The Philippines replaced China as Vietnam's top rice buyers as the island nation's imports of Vietnamese rice jumped 2.55 times in volume and 2.34 times in value to 2.15 million tonnes and nearly 900 million USD, respectively.

Similar trends were seen in the export of pepper and cashew nut which both witnessed an increase in volume but a decrease in value.

Vietnam earned 3.74 billion USD from the exports of vegetables and fruits, down 1.9 percent from 2018. Though exports to China declined 13.2 percent year-on-year, the neighbouring country remained Vietnam's largest importer, accounting for 65.7 percent of the total vegetable and fruit exports. It was followed by the United States, the Republic of Korea, Japan and the Netherlands.

Some 1.59 million tonnes of coffee were exported for 2.75 billion USD, down 15.2 percent and 22.4 percent, respectively. Last year, the coffee export prices averaged 1,724 USD per tonne, a year-on-year decrease of 8.9 percent, while the domestic prices slid 2,200 � 2,300 VND per kg from the end of 2018.

The coffee price in the world market decreased because Brazilian coffee growers enhanced selling in the wake of a drop in Brazil's currency, leading to growing coffee reserves in major markets like the US.

Rubber was one of a few farming items with a positive growth with 1.68 million tonnes exported, worth 2.26 billion USD, up 7.7 percent and 8.3 percent, respectively. China remained Vietnam's biggest buyer, purchasing 66.5 percent of the total exports, followed by India (8.3 percent) and the RoK (3 percent).

Source: Vietnam News Agency