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China remains major market for Vietnamese farm products

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(GlobalPost/GlobalPost)

China remains major market for Vietnamese farm products

HANOI, Aug. 26 (Xinhua) -- China remained one of the major markets of Vietnam's farm products in the first seven months of 2014.

According to statistics from the Ministry of Agriculture and Rural Development (MARD) on Tuesday, China remained the top market of Vietnamese rubber, rice, fruits and vegetable as well as cassava during the seven-month period.

In the period, Vietnam sold some 1.78 million tons of cassava and products to China to earn a revenue of nearly 560 million U.S. dollars, a decrease of 4.32 percent in volume and 5.62 percent in value year on year.

China accounted for 84.95 percent of Vietnam's cassava export market, said the ministry.

At the same time, Vietnam exported some 182,395 tons of rubber to China, earning nearly 321.2 million U.S. dollars, a decrease of 21.01 percent in volume and 40.25 percent in value.

Exports to China took a 39.03 percent share of Vietnamese rubber export market, said the ministry.

Additionally, China imported some 1.47 million tons of rice from Vietnam, worth 631.5 million U.S. dollars, up 1.05 percent in volume and 5.17 percent in value, remaining the largest consumer of Vietnamese rice with a 36.18 percent market share.

Meanwhile, around 30.43 percent of Vietnam's exported fruits and vegetables were sold to China with revenue of nearly 258.9 million U.S. dollars, up 53.72 percent year on year.

Besides, China made up 15.69 percent of Vietnam's cashew nut exports, 14.38 percent of wood and wood products, 9.07 percent of tea and 6.04 percent of seafood, said the MARD.

http://www.globalpost.com/dispatch/news/xinhua-news-agency/140826/china-remains-major-market-vietnamese-farm-products