Trade

(VEN) - Coffee exports are expected to reach US$3.5 billion in 2018, Luong Van Tu, Chairman of the Vietnam Coffee - Cocoa Association (VICOFA) recently told Vietnam Economic News’ Phuong Lan. VICOFA Chairman Luong Van Tu Why is the coffee exports’ value growth lower than quantity growth? Arabica and Robusta coffee prices have reached their lowest levels of the past 12 and five years, respectively. As a result, despite a quantity increase of over 20 percent, Vietnam’s coffee export value in the first 10 months of 2018 grew at the same pace as in the same period last year. However, Vietnam has increased exports of ground roasted and instant coffee according to its processed coffee export promotion policy. Processed coffee has high added value with prices of VND70-100 million per tonne compared to VND32-36 million per tonne in coffee beans. China is emerging as one of the biggest importers of Vietnamese coffee beans and instant coffee. Increasing coffee … [Read more...] about Instant coffee, instant results

Diversified export markets In 2017, Vietnam’s export-import reached a record US$425.12 billion, including US$214.02 billion in exports and US$211.1 billion in imports, putting the trade surplus at nearly US$3 billion. At the beginning of 2018, Prime Minister Nguyen Xuan Phuc asked the Ministry of Industry and Trade to target a 10-percent export increase, higher than the goal of 7-8 percent set by the National Assembly. The task was particularly challenging given the escalating US-China trade war, and challenges posed by non-tariff barriers for imported goods. To carry out its task, the Ministry of Industry and Trade slashed bureaucratic red tape for administrative procedures and business conditions in export-import activities, creating favorable conditions for business development. For example, Governmental Decree 107/ND-CP on rice export businesses now allows rice producers to export their products directly. Farmers, cooperatives and/or businesses with several dozen hectares of … [Read more...] about Vietnam’s exports, trade surplus hit new records

(VEN) - Vietnam has achieved impressive rice export results this year. Domestic companies have won bids to export rice to various markets. The number of government rice trade contracts has decreased while more commercial contracts have been signed. Rice exporters have gradually shifted the focus of their attention from quantity to quality. Changes in the structure of export products have increased the value of Vietnamese rice in the global market Increased value Ministry of Industry and Trade (MoIT) data show that Vietnam exported 5.7 million tonnes of rice worth US$2.86 billion in the first 11 months of 2018, up 16.8 percent in value compared with the same period last year. These results put rice on top of the list of agro-forestry-fishery products in terms of export value growth. In the first 10 months of 2018, Vietnamese rice was exported at prices averaging US$504 per tonne, up 12.3 percent compared with the same period last year. The structure of export rice … [Read more...] about Good signals for Vietnamese rice exports

(VEN) - Despite big trade promotion efforts, Vietnamese tea exports to Russia have declined in both volume and value. Decrease in volume and value According to the Ministry of Agriculture and Rural Development, in the first 11 months of 2018, Vietnamese enterprises exported 117,000 tonnes of tea products worth US$199 million, down 8.7 percent in volume and 4.2 percent in value compared to the same time in 2017, despite a 4.7 percent price increase during the same period. In the first 10 months of 2018, tea exports to Pakistan, Chinese Taipei, Russia, China and Indonesia represented 72.6 percent of the country’s total, up 9.7 percent from 62.9 percent in the same period of 2017. However, while tea exports Pakistan and Chinese Taipei increased in both volume and value, those to Russia, the third largest importer of Vietnamese tea in 2018, declined sharply in both volume and value. According to statistics of the General Department of Vietnam Customs, tea exports to Russia … [Read more...] about Vietnamese exports, not everyone’s cup of tea

We learned that MM Mega Market Vietnam just set in motion its first fruit platform in Vietnam. Can you share something about MM’s underlying strategy of the Ben Tre Fruit platform? As part of our strategy to push for strong growth of safe food supply chains for Vietnam, the Ben Tre fruit platform began operation in late October as a source of safe quality fruit products for our 19 stores across the country. More importantly, this depot will also be an export base for Vietnamese fruit exports to China, Thailand and other Southeast Asian countries. In the 2018 Phase I, Ben Tre Fruit Platform is projected to process about 15 tonnes per day. In Phase II in 2019, the depot’s capacity will likely soar to about 50 tonnes per day. In 2019, we will make good on our promise to expand vegetable and fruit exports to other Southeast Asian countries to at least six containers of merchandize per month. To grow successfully, a sustainable agriculture value chain in a changing world, … [Read more...] about MM Mega Market promotes Vietnamese agriproducts