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Submitted by ctv_en_6 on Mon, 09/13/2010 - 17:34
A remarkable increase was seen in the export prices of many farm products in the past eight months of this year. The products included cashew nuts (up 18.9 percent), tea (up 11.2 percent), pepper (up 39.9 percent), and rice (up 2.8 percent).

According to forecasts by the Ministry of Agriculture and Rural Development (MARD) and the Ministry of Industry and Trade (MoIT), key export items, including rice, pepper and cashew nuts, will also enjoy higher export prices in the last months of 2010.

Rice value likely to remain high

After a sudden increase in rice value in the Mekong Delta region in August, the price of rice is currently experiencing a slight decrease, as businesses are hesitant to buy rice for stockpiling.

On September 9, the rice price stood at VND4,900-VND5,000/kg, up VND300-400 compared to the previous week.

Local farmers have worried about the possible reduction in rice value, despite the small output of rice at the end of the summer-autumn harvest.

The Vietnam Food Association (VFA) predicted that the price will be stabilised because of increasing demand in the global market. In August, local businesses exported more than 800,000 tonnes of rice. In the first ten days of September, over 185,000 tonnes of rice were shipped abroad, earning more than US$68.5 million. VFA forecast rice export volume in September will reach about 800,000 tonnes.

Since the beginning of 2010, Vietnam has exported more than 4.96 million tonnes of rice worth over US$2 billion. The total rice export volume in 2010 up until September was equivalent to the previous year’s figure. However, export value is US$90 million higher than in 2009.

VFA Secretary General Huynh Minh Hue said his association was striving to control the export of rice to maintain a high average export price of VND5,000/kg until the end of this year.

He said the global market’s demand for rice will increase in the remaining months of 2010, as many rice-exporting countries are suffering a year of bad harvest due to natural disasters. “Therefore, Vietnamese farmers should not sell a massive volume of rice that may lead to a decrease in value,” Mr Hue said.

VFA suggested local farmers harvest their summer-autumn rice crop in time and focus on growing the autumn-winter crop to ensure an adequate supply for the domestic market, as well as for export demand at the end of this year.

Sharp increase in pepper export price

MARD said Vietnam exported about 10,000 tonnes of pepper in August, bringing the total export volume of pepper in the past eight months to 94,000 tonnes and reaping an export turnover of more than US$310 million. This figure was 35 percent increase on the same period last year in terms of export value.

By the end of August, Vietnamese pepper was traded at values between VND74,000-VND76,000/kg, rising 25 percent against two months previously. However, pepper prices in the local market are dropping by VND2,000-VND3,000/kg. The MoIT attributed the slight decrease in pepper value to a reduction in import volume from India – the world’s largest pepper importer. Furthermore, foreign markets are still waiting to buy pepper from two large pepper-exporting nations, Malaysia and Indonesia, as they are currently harvesting their pepper crops.

MoIT predicted the export price of pepper will see a sharp increase in September, as Malaysia and Indonesia can supply only 40,000 tonnes on the global market, while Vietnam will be able to export 105,000 tonnes.

Export price of cashew nuts continues to rise

In August, the cashew price in Dong Nai province was VND25,000/kg, and the figure grew up to VND27,500/kg on the last day of the month – the highest number so far in 2010.

Since January 2010, the price of cashew nuts has experienced a constant increase, with a sudden rise of 39.73 percent in August.

The MoIT said cashew nut prices will continue to rise until the end of this year, thanks to the surging price on the global market and export promotion activities in the domestic market.

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