Illustrative image (Source: https://www.thestar.com.my) Hanoi (VNA) - Malaysian biodiesel production is likely to hit record levels in 2018 and 2019, with 2018 exports on track to double from 2017, pushed up as higher oil prices boost the appeal of biofuels. According to U.R Unnithan, president of the Malaysian Biodiesel Association, Malaysia is the world’s No. 2 producer of palm oil, which can be used as feedstock to make the bio components of biodiesel. He said Malaysia can produce 900,000 tonnes of biodiesel, and export 475,000 tonnes of those if the current price difference between crude palm oil and gasoil remains. Statistics of Malaysia show that the country churned out 720,410 tonnes of biodiesel in 2017 and exported 235,291 tonnes. The country said in July that it would raise its biodiesel mandate next year to 10 per cent from the current 7 per cent. The mandate refers to the percentage of bio-content that must be contained in biodiesel. If the government goes … [Read more...] about Malaysia: biodiesel output, exports set to hit records
Export
Vietnam footwear exports benefit from US-China trade spat
According to customs statistics, Vietnam’s footwear exports in the first nine months of this year were worth $11.74 billion, a 10.2 percent year-on-year increase. Its exports to China in the period have risen by 28.5 percent, to Japan by 14.7 percent, and to the U.S. by 13.5 percent. Vietnam is the second biggest exporter of footwear to the U.S. behind China, shipping 404 million pairs of shoes last year. The upward trend is likely to continue, too, as rising wages in China increase the cost of goods produced there and the country is thus directing more of its manufacturing resources toward higher-priced goods like electronics, according to the global footwear news outlet Footwearnews (FN). Foreign companies are moving to other countries like Vietnam to cut cost. Adidas CEO Kasper Rorsted told Reuters last May that his company is shifting sourcing of footwear from China to Vietnam. Vietnam has in fact overtaken China as its top supplier, with Vietnamese factories producing … [Read more...] about Vietnam footwear exports benefit from US-China trade spat
Cement exports exceed annual target
(VEN) - Consumption of cement products in the first eight months of 2018 reached about 63.85 million tonnes, up nearly 30 percent compared to the same period last year and completing nearly 76 percent of the set plan for the whole year. In particular, cement exports have exceeded the annual target. According to the Building Materials Department under the Ministry of Construction, cement consumption in both domestic and export markets in August was estimated at 7.66 million tonnes, with domestic sales accounting for 5.65 million tonnes. In the export markets, results were more impressive as cement output in August dropped slightly by 0.09 million tonnes compared to July, but increased by 44 percent over the same period in 2017. Cement consumption fell slightly this month compared to July by 0.25 million tonnes. In the first eight months of 2018, cement consumption in both domestic and export markets was estimated at 63.85 million tonnes. Of this, domestic consumption was estimated … [Read more...] about Cement exports exceed annual target
Tra fish exports to exceed USD2 billion
Illustrative photo (Photo: VNA) Truong Dinh Hoe, General Secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP), said tra fish exports will continue to increase in the last months of this year so total export value will reach USD2.1 billion, up 22 percent compared to 2017. The export value of this product in the first nine months of the year surged year-on-year by 24 percent to USD1.6 billion the association said. Hoe was quoted by congthuong.vn as saying that from late September to now, the price for raw material of tra fish in the Mekong River delta has stood at VND35,000-36,000 (USD1.5-1.55) per kilo. With that price, farmers earn from VND6,000 to VND9,000 per kilo. Now, tra fish processing enterprises are purchasing raw materials to process export products for higher demand on global markets by the end of 2018. However, they have faced a shortage of raw material for export processing because many farmers have stopped tra fish production as they lack … [Read more...] about Tra fish exports to exceed USD2 billion
Coffee exports rise, but value stagnates
Viet Nam exported 1.46 million tonnes of coffee worth US $2.77 billion in the first three quarters of 2018, an increase of 20.1 per cent in volume and 0.4 per cent in value compared to the same period last year. The low growth in coffee’s export value was attributed to the significant decline in coffee’s export prices during the reviewed period. In September, the average export price of Viet Nam’s coffee was estimated at $1,731 per tonne, down 6 per cent against the previous month and down 25.8 per cent compared with the same period last year. In the first nine months of 2018, the average export price was $1,897 per tonne, a year-on-year decrease of 16.4 per cent. After a period of sharp decline, over the past two weeks the domestic coffee prices have been rising again due to the increasing prices on the world coffee market. However, the increase rate was still very low. On October 9, 2018, the prices of coffee in the Central Highlands were VND36,100 per kilo at the … [Read more...] about Coffee exports rise, but value stagnates