Who exports rice

Apparel exports have been showing signs of a rebound since the end of the third quarter last year Recent figures by the Vietnam General Department of Customs show that as of February 15, Vietnam raked in $3.77 billion from textile and apparel exports, up $270 million compared to the same period in 2020. Le Tien Truong, deputy chairman of the Vietnam Textile and Apparel Association (Vitas) and chairman of state-run group Vinatex noted that with the COVID-19 situation still intense and consumption declining in Vietnam’s major export markets like the US, EU, and Japan, many local firms have adopted smartly by shifting to producing items for common use with reasonable price tags. “In fact, the textile and clothing sector has been trending in this direction from the second half of last year, helping to ensure continuous work for labourers with stable order placement. This helped the sector to reach an export turnover of $35.2 billion last year, which, albeit lower than in 2019, was much better than other major exporters like India and Bangladesh,” Truong said. According to Vitas, in the brightest forecast the sector would recover consumption level as in 2019 in the third quarter of 2022, whereas based on the slow recovery scenario such consumption would reach by end of 2023. Due to the pandemic, total aggregate demand for textile and apparel products shed more than 22 per cent globally, going from $740 billion to $600 billion. Competing countries all saw 15-20 per cent decreases. The reduction of Vietnam’s textile and apparel sector was far less than the world average. A Vinatexsource certified that many firms in the sector, including Vinatex members, have signed orders until the end of April. Significantly, orders have been placed for several product lines such as knitwear and items for common use until July and August. Hung Yen Garment Corporation (Hugaco) – a major member belonging to Vinatex group – posted a revenue of $15.7 million and …

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Market leader Hoa Phat Group last month exported over 12,000 tonnes of products, mostly cold-galvanized steel, to North and South America. This followed an export of 10,000 tonnes in January to Belgium and Spain. The company targets producing 300,000-400,000 tonnes of steel products this year, 30-40 percent of which are likely to be exported. Its competitor Hoa Sen Group last month set a new export record of 121,000 tonnes of galvanized steel worth more than $100 million. The group has a network of over 85 countries and territories, with main markets being the U.S, Mexico, Europe and Southeast Asia. Vietnam’s steel industry is expected to see growth of 5-6 percent this year, with global demand set to rise by 4.1 percent thanks to recovery in developed markets, according to the Vietnam Steel Association (VSA). Other drivers for growth include expectations of rising public investment in infrastructure, the recovery of the real estate market and more foreign direct investment, said VSA deputy chairman Trinh Khoi Nguyen. The industry started 2021 strongly, with a 61 percent year-on-year rise in production volume to 2.65 million tonnes. Domestic sales in the period rose 55 percent to 2.12 million tonnes, while exports rose 53 percent in value to $553 million. These figures indicate robust recovery prospects this year after VSA saw half of its members reporting plunging revenues last year, especially in the first and second quarter, due to Covid-19 impacts. However, trade officials have warned that rising safeguard measures could hurt the industry. Last month, Indonesia imposed an anti-dumping duty of 3.01-49.2 percent on Vietnam cold steel sheets. In January, Malaysia revised duties on cold-rolled coils of alloy and non-alloy steel from Vietnam to 7.42-33.7 percent for the period between January 24 and May 23. The U.S. and Canada have also slapped anti-dumping duties on Vietnam’s steel products in recent years. The Trade Remedies Authorities …

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With export turnover of $2.04 billion, the US surpassed China to become the largest consumer of Vietnamese agricultural products in the first two months of 2021. The latest report of the Ministry of Agriculture and Rural Development shows that the total import and export turnover of agricultural, forestry and fishery products in the first two months of this year is estimated at nearly $11 billion, of which exports are estimated at $6.17 billion, an increase of 16.6% year on year. Imports are estimated at $4.8 billion, up 13.6%. The trade surplus is about $1.37 billion, up 28.4% over the same period of 2020. Export turnover of many key export agricultural products grew strongly during this time. For example, rubber export value reached about $516 million (up 9.9%); tea $29 million (up 11.1%); cashew nuts $442 million (up 21.5%), vegetables $610 million (up 14.6%); wood and wood products about $2.44 billion (up 51.0%); and rattan and bamboo products $128 million (up 43.0%). Notably, with export turnover of about $2.04 billion, an increase of 57.3% over the same period and accounting for more than 33% of market share, the US became the largest customer of Vietnamese agricultural products during this time. Following the US was China, with export revenue of $1.88 billion, up 57.9% over the same period last year and accounting for 30.53% market share. ASEAN ranked third with export turnover of $606 million, up 25.2%, accounting for 9.82%. In the coming time, the Ministry of Agriculture and Rural Development will focus on trade promotion activities. Regarding export markets, it will focus on issues related to market regulations and technical barriers in free trade areas (FTAs) consistent with the development of the Covid-19 epidemic. The Ministry will also strive to increase exports of dragon fruit and passion fruit. In the domestic market, the Ministry will continue to monitor, collect and summarize information and data on prices, …

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