Vietnam’s Q1 farming output grows at fastest rate in 13 years

Wednesday, 2018-04-04 11:03:46
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Vietnam aims to export US$10 billion worth of seafood this year.
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NDO - Output of the agro-forestry and fishery sector in the first three months of 2018 grew by 4.05%, the fastest pace of the last 13 years, the Ministry of Agriculture and Rural Development (MARD) has announced.

Official data showed that Vietnam’s agricultural exports for the January-March period hit US$8.7 billion, up 9.6% from the same quarter of 2017.

MARD Minister Nguyen Xuan Cuong said that the agricultural picture in the first three months of the year was very positive, laying the foundation for continued growth in the coming quarters.

The ministry aims to reach a full-year growth rate of at least 3% for the sector, with export revenues targeted at US$40-40.5 billion.

According to the MARD, Vietnam produced an estimated 11.18 million tonnes of rice in the first quarter of 2018, up 5.4% from the same period of 2017.

At the same time, Vietnam’s rice export prices increased as a result of their improving quality and it is projected that the country could ship 6.5 million tonnes of the grain this year, the MARD said, noting that 81% of Vietnam’s rice exports were high quality grains.

Vietnam also aims to export US$10 billion worth of seafood this year.

Currently the MARD is working closely with local authorities to instruct fishermen in strictly complying with fishing rules and regulations so as to remove the yellow card issued by the EU last year as a warning over illegal fishing.