Agriculture output grows at fastest rate in 13 years

09:04 | 16/07/2018 Trade

(VEN) - Output of the agro-forestry and fishery sector in the first quarter of 2018 grew by 4.05 percent, the fastest pace in the last 13 years. The sector will strive to reach export turnover of US$40-40.5 billion for the whole year.

agriculture output grows at fastest rate in 13 years

Bumper crops

The Mekong Delta region has finished rice harvesting with productivity of 69.2 quintals per hectare and output of nearly 10.9 million tonnes, an increase of 6.3 quintals per hectare in productivity and 1.06 million tonnes in output compared to the previous winter-spring crop.

In addition to an increase in volume, rice prices continued to increase in the first five months of the year. As a result, rice exports reached 2.66 million tonnes for a value of US$1.45 billion, an increase of 13.9 percent in volume and 40 percent in value compared to a year ago. The export growth was attributed to two factors - growing demand for rice imports in some markets, and a shift to high-quality rice that now comprises up to 80 percent of rice export volume.

Farmers in key litchi- and longan-growing provinces such as Bac Giang, Hai Duong and Hung Yen have also experienced bumper crops, with output doubling compared to the previous year.

The tra fish market in the Mekong Delta has also undergone changes, with prices ranging between VND31,000-33,000 per kg. Tra fish prices are expected to maintain a high level throughout the year. In addition, shrimp exports remained relatively stable in the first five months of the year.

Promoting restructuring

In the first five months of the year, the number of communes meeting the criteria of new rural areas exceeded the target the Ministry of Agriculture and Rural Development set earlier this year. Therefore, the Ministry of Agriculture and Rural Development raised the target of new-style rural area ratio among communes nationwide to 39 percent in 2018.

To date, 63 provinces and cities across the country have implemented trade and investment promotion activities in the agricultural sector. In the past two years, the number of businesses investing in agriculture has doubled, from 3,700 to 7,620. Many businesses have developed high-tech agricultural production and participated in value chains. Moreover, as many as 878 new cooperatives were established in the first five months of the year, creating an important basis for the next period.

The Ministry of Agriculture and Rural Development will strive to achieve agricultural growth of at least three percent

and earn roughly US$40 billion from exports this year.

Viet Thai