Exports of agricultural products of Vietnam dropped sharply

Ministry of Industry and Trade confirmed, though China devalued the yuan consecutive last time but no negative impact to agricultural exports from Vietnam.

According to data reported by the Ministry of Industry and Trade, exports of agricultural and aquatic products in August was estimated at $ 1.7 billion, down 1.5% from the previous month and decreased by 13.5% yoy 2014 8 months of 2015, estimated at $ 13.4 billion, down 10.2% from the same period in 2014.

The commodity exports rose over the same period as cassava and cassava products is estimated to increase 26.5%, 22.6% cashew, vegetables up 3.2%.

The commodity turnover has dropped sharply over the same period is estimated at 4.2 billion seafood dollars, down 16.6%; Coffee is estimated at $ 1.8 billion, down 32.8%; Rice estimated at $ 1.8 billion, down 11.0% and rubber estimated 921 million, down 10.3%.

Some items have dropped as exports fell 32.4% coffee, tea types fell 5.4%, down 21% ... Pepper made exports fell 766 million group.

Cause of agro-forestry-fishery exports fell, MOIT said that due to the drop in exports of seafood products and agricultural products 3 key including rice, coffee and rubber.

Exports of seafood and rice decreased due to supply of abundant exporting countries, leading to fierce competition in the market, particularly competition from Thailand, India.

In addition, crude oil prices led to the policy of maintaining the value of its currency to boost exports of many countries, and led to import restrictions; protectionist tendencies towards agro-forestry-fishery of the rising water ...

Coffee, exports fell by a prolonged drought in the Central Highlands and pests cause yield reduction.

The forecast in the last months, prices and exports of many agricultural commodities and minerals decrease will continue to affect the increase in exports. Exports of domestic business sector is expected to grow at a low level due to the major export items of the region's agricultural, fisheries and minerals are in decline.

Assessing the impact of exchange rates on some exports of Vietnam, Tran Thanh Hai, Deputy Director import-export (MOIT) affirmed China devalue the yuan is not negatively affected import-export activities.

Hai said Vietnam exported to China amount, much less quota primarily to the devaluation of the RMB is not greatly affect the agricultural exports of Vietnam.

But in the long term, Mr Hai said that items such as cassava, rubber export to China large number will be affected.