Vietnam has earned 22.66 billion USD in profits from the export of farming, forestry and seafood products in the first nine months of 2014.

According to the Ministry of Agriculture and Rural Development (MARD), the profits represented an 11.4-percent year-on-year increase, with farming products bringing in 12.7 billion USD or a 9.8 percent increase; forestry products, 4.41 billion USD or 13.2 percent; and seafood products, 5.65 billion USD or 21.6 percent.

The ministry said the farming, forestry and seafood sector achieved a 6-billion USD trade surplus for the first three quarters of the year even as the sector spent 16.11 billion USD on imports, an 18-percent year-on-year increase.

It added that in the first nine months, coffee exports experienced a 31.9-percent year-on-year surge in volume to 1.35 million tonnes and a 27.9-percent year-on-year surge in value to 2.81 billion USD.

The coffee crop for the calendar year 2013 to 2014 is expected to post a 15-percent year-on-year increase in volume to 1.6 million tonnes and a nine-percent year-on-year increase in value to 3.27 billion USD.

Pepper exports achieved a 24.5-percent year-on-year surge in volume to 140,000 tonnes and a 41.9-percent year-on-year surge in value to 1.06 billion USD. The price of pepper exports posted a 12.3-percent year-on-year increase to 7,459 USD per tonne.

Cashew exports posted a 19.6-percent year-on-year surge in volume to 225,000 tonnes and a 21.8-percent year-on-year surge in value to 1.46 billion USD.

The price of rice exports posted a 3.3-percent year-on-year surge to 453.7 USD per tonne, but posted a 5.2-percent year-on-year decline in volume to 5.02 million tonnes and a 1.6-percent year-on-year decline in value to 2.29 billion USD.

Since mid-September, the domestic rice industry entered into new export contracts with the Philippines and Indonesia, leading to an increase in the export production volume and domestic price of the staple.

According to the Plantation Department, Vietnam has enough rice for export, including commercial varieties from the autumn-winter crop and the existing inventory.

Rubber exports likewise posted a 2.4-percent year-on-year decline in volume to 705,000 tonnes and a 21.9-percent year-on-year decline in value to 1.25 billion USD, as well as a 24-percent year-on-year decline in price to 1,800 USD per tonne.

China and Malaysia remained the two largest export markets for rubber, but the ministry said it was expecting a reduction in rubber exports to both markets.

Wood and wooden products exports posted a13.5-percent year-on-year increase in value to 4.41 billion USD. The value of forestry products exports to the United States posted a 14.41-percent year-on-year increase while those to Japan posted a 23.71-percent year-on-year increase, but those to China posted a 1.96-percent year-on-year decrease.

The key export markets of the US, Japan and China accounted for 62.33 percent of total national export value. Meanwhile, fisheries products exports posted a 21.6-percent year-on-year increase in value to 5.65 billion USD. The US remained the largest export market for Vietnamese seafood, accounting for 22.8 percent of total export value, followed by Japan with 14.58 percent.-VNA