Farming expects sales of $40b

Tuesday, Jan 12, 2016 08:08

Employees at GOC Foodstuff Company pack the cucumbers for export. — VNA/VNS Vu Sinh

HA NOI (Biz Hub) — The agricultural and rural development sector expects to gain US$39-40 billion in total farming, forestry and fishery products by 2020, according to officials.

Also, experts anticipate a growth rate of 3 per cent in the sector's gross domestic product (GDP) by 2020, according to the Ministry of Agriculture and Rural Development (MARD).

Minister of Agriculture and Rural Development Cao Duc Phat said that the sector aims for an export turnover of $31 billion and a GDP growth rate at 3-3.5 per cent this year.

To gain its target this year and beyond, the domestic agricultural sector will focus on restructuring itself and improving its value and efficiency of production, he said.

In addition, the sector will put more investment into the processing industry, especially deep-processing and post-harvest preservation, to reduce losses after harvesting and increase the added value of farming products.

Also, the ministry will continue improving the efficiency of the quality of management for agricultural material, food hygiene and safety, to create favourable conditions for export and consumption of farm production. It will also improve controls on quality, food hygiene and safety for farming, forestry and fishery products for export.

According to the ministry, the cumulative export turnover in agro-forestry-fisheries products reached $140.6 billion, from 2011 to 2015, with an average annual growth rate of 9 per cent.

Compared to 2010, the export turnover of these products rose 54.6 per cent to $30.14 billion in 2015.

Ten exports listed in the ‘$1 billion club' were rice, coffee, rubber, tra fish, shrimp, cashew nuts, pepper, vegetables, cassava and woodwork.

In the reviewed period, the sector's GDP growth rate reached 3.13 per cent, surpassing the 2.6 to 3 per cent target set by the 11th National Party Congress, Phat said. — VNS

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