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Rubber is the agricultural export commodity with the strongest growth rate

31/03/2021

Rubber, cassava and products from cassava, seafood, vegetables and fruits were the items of high growth in the group of agricultural, forestry and fishery products for export in the first quarter of 2021.

According to data from the Ministry of Industry and Trade, export turnover in March 2021 is estimated at USD 28.6 billion, an increase of 19.2% compared to March 2020. For cummulative figure of the first quarter of 2021, export turnover is estimated at USD 77.34 billion, an increase of 22% over the same period last year.

In which, the export turnover of agriculture, forestry and fishery group in March 2021 is estimated at USD 2.3 billion, an increase of 58.3% over the previous month and an increase of 4.8% over the same period in 2020, accounting for 8.1% of total export turnover.

For the first three months of the year, the export turnover of this commodity group is estimated at USD 5.97 billion, increased by 6.6% over the same period in 2020, accounting for 7.73% of the total export turnover.

The items with high growth in this group include rubber, an increase of 89.7% in volume and 16.5% in turnover; cassava and cassava products with an increase of 40.3% in volume and 53.2% in turnover.

In addition, seafood and fruit and vegetable export turnover also increased by 3.3% and 6.1% compared to the first quarter of 2020, reaching USD 1.69 billion and USD 944 million.

In contrast, cashew nut exports increased by 13.2% in volume but decreased by 5.8% in turnover compared to the first quarter of 2020; coffee decreased by 17% in volume and 11.3% in turnover; pepper decreased by 25% in volume and 1.3% in turnover.

Rice is the item with the strongest decrease, with a decrease of 30.4% in volume and 17.4% in turnover compared to the first quarter of 2020, reaching 1.1 million tons, with a turnover of USD 606 million.

According to the Ministry of Industry and Trade, the decrease in rice exports in the first quarter of 2021 was mainly due to the lack of supply from the Winter-Spring crop to the market, while high rice prices also make importers wait for prices to fall.

 

Kylie Nguyen

© 2019 Vietnam Bank for Agriculture and Rural Development No. 2 Lang Ha street, Ba Dinh district, Hanoi, Vietnam
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