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HCM CITY (Biz Hub) — Export value of agro-forestry and seafood products have increased 9.4 per cent compared to the same period last year, according to the Ministry of Agriculture and Rural Development.

Exports are estimated to reach US$4.33 billion in the first two months of the year.

During this period, exports of key agricultural products were about $1.73 billion, down 20.5 per cent against the same period last year as rice, coffee and rubber exports have declined.

The country exported about 702,000 tonnes of rice worth $330 million, down 12.3 per cent in volume and 8.4 per cent in value.

In January and February, about $919 million was earned from seafood exports, up 23.5 per cent against the same period last year, while exports of key forestry products was $837 million, up 30.2 per cent.

Exports have increased partly due to the VAT exemption on raw products of agro-forestry and fisheries that took effect early this year, experts said.

The global recovery has also led to a higher demand for agro-forestry and fishery products.

Moreover, the decline of the US dollar in February stimulated importers to buy more agro-forestry and fishery products for storage, experts said.

Many exporters said they now have long-term orders.

The ministry has set a target of exporting $28.5 billion of agro-forestry and fisheries products this year, up 3.63 per cent against last year.

If the world economy continues to improve, the export value of agro-forestry and fisheries can reach $30 billion this year, according to the ministry. — VNS