Can Tho city posts strong export growth in nine months
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Can Tho city posts strong export growth in nine months

Economy, Vietnam, Vietnam Finance News
Can Tho farmers harvest rice (Photo: VNA)

Can Tho (VNA) – Businesses in the Mekong Delta
city of Can Tho have enjoyed good export growth, with sharp rises in shipments
of rice and aquatic products which make up more than 70 percent of local total
export value.

According to the Can Tho Department of Industry
and Trade, the city’s goods and services export revenue reached 1.27 billion
USD in January-September, up 16.3 percent year on year. Of that sum, goods
exports were estimated at 1 billion USD, up almost 17 percent from a year
earlier.

About 638,100 tonnes of rice worth 261.9 million
USD were shipped abroad, respectively increasing 22 percent and 19.6 percent
year on year. Meanwhile, 117,000 tonnes of aquatic products were exported,
bringing home 378.7 million USD, up 15 percent and 4.8 percent respectively.

Other products with good growth included
processed agricultural products (55.4 million USD, up 24.4 percent), steel
products (17.3 million USD, 46.7 percent), and pharmaceuticals (12.8 million
USD, up 33.7 percent).

Deputy Director of the municipal department
Duong Nghia Hiep said on September 20 that poor rice export figures in the
first half of the year were attributable to fierce competition with Thai rice.
However, the situation has improved since June, especially in September.

Many Can Tho businesses have won contracts to
ship rice to the Philippines, Singapore and Indonesia, he noted, forecasting a
positive export outlook in the rest of the year as several companies are
negotiating new contracts.

Exports of catfish and shrimp products have also
been growing rapidly since early September. Many shrimp processors face a
material supply shortage and have to import raw materials from Bangladesh and
India to fulfill their contracts.

Meanwhile, catfish exports have thrived thanks
to China, a new and undemanding market with considerable demand, Hiep said.

He predicted that catfish and shrimp exports to
European countries are likely to increase strongly after September to satisfy
demand at year-end holidays.-VNA

QBCA

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