Export turnover from agroforestry and seafood would likely reach more than $30 billion this year. — Photo vov

HA NOI (Biz Hub) — Viet Nam earned more than US$2.28 billion from agroforestry and seafood exports in October, raising total export turnover in the first 10 months of 2014 to $25.39 billion.

The turnover represents a year-on-year increase of 11.2 per cent, according to the Ministry of Agriculture and Rural Development (MARD).

Agriculture and Rural Development Minister Cao Duc Phat said the MARD has predicted that, given current trends, export turnover from agroforestry and seafood would likely reach more than $30 billion this year.

Figures from the MARD showed that in the past 10 months, rice exports reached 5.68 million tonnes worth $2.59 billion. This represents a 2.7 per cent decrease in volume and 1.2 per cent increase in value year-on-year. The increase in value is attributed to the 3.6-per cent increase in export price from 2013.

China remained the largest market for Vietnamese rice exports with 32.48 per cent of market share, followed by the Philippines with 22 per cent and Malaysia with seven per cent.

Coffee exports reached 1.49 million tonnes worth $3.1 billion. This represents a 37.1-per cent increase in volume and 33.5-per cent increase in value year-on-year. Recently, the Belgian market witnessed an increase in coffee imports from Viet Nam. However, Germany and the United States remained the two largest importers of Vietnamese coffee.

Cashew nut exports reached 257,000 tonnes worth $1.68 billion. This represents a 20.5-per cent increase in volume and 24.4-per cent increase in value year-on-year.

Pepper exports earned $1.1 billion, mostly from the five largest pepper importers: the US, Singapore, the United Arab Emirates, the Netherlands and India. The five importers accounted for 50.62 per cent of market share.

Rubber exports remained the most valued item, posting a turnover of $1,767 per tonne or a year-on-year decrease of 25.46 per cent. In spite of the increase in rubber export volume, the value is likely to fall compared with the same period last year.

In contrast, tea exports posted a six-per cent year-on-year increase. Pakistan was the largest importer of Vietnamese tea with a 94.4-per cent increase in value year-on-year.

To date, seafood exports brought in $6.48 billion, a 20-per cent year-on-year increase, while agroforestry exports brought in $5.24 billion, a 13-per cent year-on-year increase. — VNS