Shrimp is among 13 key agricultural products of Vietnam (Photo: congthuong.vn)Hanoi (VNS/VNA) - The Ministry ofAgriculture and Rural Development (MARD) has announced a list of 13 keyagricultural products of Vietnam.
Thelist includes rice, coffee, rubber, cashew nuts, pepper, tea, vegetables andfruit, cassava and cassava products, pork, meat and eggs, tra fish,shrimp, wood and wood products.
MARD said that many countries had identified their key agricultural products inorder to encourage their development, but so far there hadn’t been a unifiedset of indicators to identify key agricultural products among countries.
Each country will select their key agricultural products based on their ownnatural and socio-economic conditions as well as their political and socialsecurity objectives.
According to MARD, there are four main groups of criteria that most countriesuse to identify their key agricultural products, including economic criteria,social criteria, environmental criteria, and the criteria of products prioritisedfor development.
The ministry said the promulgation of the list aimed to encourageinvestment into agriculture to improve product quality and competitiveness.
Earlier, the ministry drafted a decree proposing 15 key agricultural productsincluding the 13 mentioned above, as well as beef and ginseng.
Vietnam now ranks second in Southeast Asia in exporting agriculturalproducts.
Last year, the country’s export revenuesof agricultural products hit a record high of 40.02 billion USD – thehighest growth rate over the past seven years.
Specifically, the gross domestic product (GDP) of agriculture, forestry andfishery expanded by 3.76 percent while the production value increased by 3.86percent. Of which, the export value of the key agricultural products had beenon the rise, contributing to the high growth rate.
The 10 commodity groups with export turnover of over 1 billion USD continued tobe maintained, of which five items posted a revenue of more than 3 billion USD,including wood and wood products (8.86 billion USD), shrimp (3.59 billion USD),fruit and vegetable (3.81 billion USD), coffee (3.46 billion USD) and cashewnuts (3.43 billion USD).
The sector’s trade surplus increased from 7billion USD in 2015 to 8.5 billion USD in 2017 and 8.72 billion USD in 2018,contributing sharply to balancing the country’s foreign currency reserves.
The global agricultural market in 2018 recorded a sharp decline in prices ofindustrial crops in the context of fierce competition among exportingcountries, causing a rapid increase in supply while world demand decreased orincreased slowly. Specifically, commodities seeing declines included coffee,rubber, pepper and cashew nuts. However, Vietnam still maintained a high exportvalue thank to increasing export volume despite falling prices.
The export value of key agricultural products had been increased includingrice, vegetables, tra fish, wood and forest products.
According to minister of Agriculture and Rural Development Nguyen Xuan Cuong,the achievements were partly due to restructuring the sector, organisingproduction by chain and bringing high technologies into production, especiallykey agricultural products.
The whole sector would strive to achieve a GDP growth rate of over 3 percent,an increase of over 3.11 percent in the production value and an export turnoverof about 42-43 billion USD, he said.
To reach the targets, the ministry would continue to restructure the sector andboost production and processing, develop the consumption market for farmproduce, and promote sustainable growth.
It would also develop the consumption market in the country as well as theexport markets, actively implement trade promotion and effectively tap into theopportunities of free trade agreements (FTAs).-VNS/VNA)
Thelist includes rice, coffee, rubber, cashew nuts, pepper, tea, vegetables andfruit, cassava and cassava products, pork, meat and eggs, tra fish,shrimp, wood and wood products.
MARD said that many countries had identified their key agricultural products inorder to encourage their development, but so far there hadn’t been a unifiedset of indicators to identify key agricultural products among countries.
Each country will select their key agricultural products based on their ownnatural and socio-economic conditions as well as their political and socialsecurity objectives.
According to MARD, there are four main groups of criteria that most countriesuse to identify their key agricultural products, including economic criteria,social criteria, environmental criteria, and the criteria of products prioritisedfor development.
The ministry said the promulgation of the list aimed to encourageinvestment into agriculture to improve product quality and competitiveness.
Earlier, the ministry drafted a decree proposing 15 key agricultural productsincluding the 13 mentioned above, as well as beef and ginseng.
Vietnam now ranks second in Southeast Asia in exporting agriculturalproducts.
Last year, the country’s export revenuesof agricultural products hit a record high of 40.02 billion USD – thehighest growth rate over the past seven years.
Specifically, the gross domestic product (GDP) of agriculture, forestry andfishery expanded by 3.76 percent while the production value increased by 3.86percent. Of which, the export value of the key agricultural products had beenon the rise, contributing to the high growth rate.
The 10 commodity groups with export turnover of over 1 billion USD continued tobe maintained, of which five items posted a revenue of more than 3 billion USD,including wood and wood products (8.86 billion USD), shrimp (3.59 billion USD),fruit and vegetable (3.81 billion USD), coffee (3.46 billion USD) and cashewnuts (3.43 billion USD).
The sector’s trade surplus increased from 7billion USD in 2015 to 8.5 billion USD in 2017 and 8.72 billion USD in 2018,contributing sharply to balancing the country’s foreign currency reserves.
The global agricultural market in 2018 recorded a sharp decline in prices ofindustrial crops in the context of fierce competition among exportingcountries, causing a rapid increase in supply while world demand decreased orincreased slowly. Specifically, commodities seeing declines included coffee,rubber, pepper and cashew nuts. However, Vietnam still maintained a high exportvalue thank to increasing export volume despite falling prices.
The export value of key agricultural products had been increased includingrice, vegetables, tra fish, wood and forest products.
According to minister of Agriculture and Rural Development Nguyen Xuan Cuong,the achievements were partly due to restructuring the sector, organisingproduction by chain and bringing high technologies into production, especiallykey agricultural products.
The whole sector would strive to achieve a GDP growth rate of over 3 percent,an increase of over 3.11 percent in the production value and an export turnoverof about 42-43 billion USD, he said.
To reach the targets, the ministry would continue to restructure the sector andboost production and processing, develop the consumption market for farmproduce, and promote sustainable growth.
It would also develop the consumption market in the country as well as theexport markets, actively implement trade promotion and effectively tap into theopportunities of free trade agreements (FTAs).-VNS/VNA)
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