Agricultural product market

Farmers raising fowl and growing pomelo and litchis are earning tens of trillions of dong in Bac Giang Province by using high technology in agricultural production. Quy earns VND2 billion a year from fowl farming Pham Van Dung, director of the Hong Xuan Production and General Service Cooperative in Luc Ngan, said though market prices had decreased sharply, he still could sell oranges and pomelos at stable prices at supermarkets. Prior to 2013, Dung and other households in the localities, which are now members of the cooperative, grew fruit trees based on their experience and did not follow any principles. As a result, the quality of products was unequal and they were always very cheap with prices set by merchants. In 2013, he began cultivating fruits in accordance with VietGAP standards. “The cultivation requires much labor, but the cost is the same. The products can go for better prices,” he said. His cooperative has been granted a growing area code and QR for traceability, and the products meet requirements for distribution in supermarkets. The cultivation of lichis is also organized the same way. This allowed farmers to sell litchis well in mid-2020, despite Covid-19. More than 350 tons of litchis of the cooperative were sold via supermarkets. “As supermarkets committed to take all the output, I did not have to go to market to sell fruit,” he said, revealing that the cooperative’s revenue reached VND20 billion last year. Nguyen Van Lan, a farmer in Lam hamlet of Nam Duong commune, also was happy about his revenue from his litchi orchard. With products meeting standards for export to Japan, he could sell litchis for export at VND30,000 per kilogram, which was higher than the average market price. With three hectares of litchis, which produced output of 40 tons, Lan collected VND1.1 billion and made a profit of VND900 million last crop. Nguyen Huu Quy in Dong Ky commune of Yen The district decided to get rich by raising fowl in accordance …

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The Hanoitimes - While the UK continues to be a potential market for Vietnam’s key export staples, the latter could be a springboard for British companies to reach a broader market in Southeast Asia. As the UK and Vietnam markets are highly complementary, trade relations between the two countries would ensure a win-win scenario for all parties involved, according to Vice Minister of Industry and Trade Hoang Quoc Vuong. Overview of the conference. Source: MoIT. As of one the world’s hubs of economy, politics, culture and science, the UK remains Vietnam’s priority economic partner, stated Mr. Vuong at a conference discussing opportunities for British and Vietnamese businesses on October 6. While the UK continues to be a potential market for Vietnam’s key export staples, including agricultural products, footwear, textile, phones and wood, among others, the latter could be  a gateway for British companies to access a broader market in ASEAN, added Mr. Vuong. Over the past years, Vietnam has been pushing for improvements in the business environment  towards greater transparency and convenience for businesses, said Mr. Vuong, adding the Vietnamese government puts strong emphasis on fairness and no discrimination among different economic groups. According to Mr. Vuong, Vietnam would give priority to administrative reform to better meet growing demands from a market-based economy and the process of global economic integration. Deputy Minister of Industry and Trade Hoang Quoc Vuong. Source: MoIT. In 2019, total FDI commitment to Vietnam stood at US$38.02 billion, up 7.2% year-on-year, while the disbursed amount was estimated at US$20.38 billion, up 6.7%. Investors have poured money into 19 fields and sectors in 2019, in which manufacturing and processing led the pack with investment capital of over US$24.56 billion, accounting for 64.6% of the total, followed by real estate with US$3.88 billion or 10.2% of the total, and …

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Clam processing at Lenger Seafoods Vietnam Co. Việt Nam and the UK saw impressive growth in their two-way trade though exports faced formidable challenges caused by the COVID-19 pandemic. VNA/VNS Photo HÀ NỘI — After the UK-Việt Nam Free Trade Agreement (UKVFTA) took effect on December 31, 2020, both sides saw impressive growth in their two-way trade though exports faced formidable challenges caused by the COVID-19 pandemic. Statistics from the General Department of Việt Nam Customs showed that total trade in goods between the two nations topped US$657.35 million in January, a year-on-year hike of 78.57 per cent. The Ministry of Industry and Trade described it as an impressive growth, particularly in the context of COVID-19. Notably, Việt Nam’s shipments to the European country hit $598.07 million, or 84.61 per cent higher than the same time last year, and 56.51 per cent higher than December 2020. Exports of agricultural products maintained stable growth in the month, with export revenue of seafood surging 18.1 per cent to $19.72 million, and fruits and vegetables rising 148.6 per cent to $1.04 million. Under the UK trade deal, tariffs levied on Vietnamese shrimp materials is reduced from 10-20 per cent to zero per cent, while more than 94 per cent of 547 tariff lines on Vietnamese fruits and vegetables will be cut to zero per cent. Experts said a wide range of Vietnamese fruits like lychee, longan, dragon fruit, pineapple and rambutan will hold more advantages to access the UK market over those from Brazil, Thailand and Malaysia who have not clinched an FTA with the European country. Việt Nam also saw strong increase in its shipments of telephone and parts (up 371.6 per cent to $252.59 million); machines, equipment and parts (up 109.9 per cent to US$74.58 million); computers and parts (up 91 per cent to $31.82 million), among others. Meanwhile, Việt Nam spent $59.297 million on imports from the UK, up 34.3 per cent year-on-year. Last year, total …

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