Wholesale agricultural products

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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Fish being processed for export by workers of Sai Gon Aquatic Products Trading JSC in HCM City. — VNA/VNS Photo Xuan Anh Viet Nam’s trade balance posted positive US$1.29 billion in the first two months of the year, the General Department of Customs has said. The country’s trade turnover during January-February topped some $95.81 billion, a year-on-year surge of 25.4 per cent. Of the total, exports amounted to $48.55 billion, a yearly hike of 23.2 per cent, while imports were estimated at $47.26 billion, or 25.9 per cent higher than the same time last year. Foreign-invested companies accounted for 76.4 per cent, or $37.07 billion, of Viet Nam’s total export turnover. Meanwhile, the domestic sector shipped abroad $11.48 billion worth of products. There were nine commodities joining the billion-USD export club, including telephones and parts ($9.3 billion, up 22.8 per cent year-on-year); electronics, computers and parts ($6.9 billion, up 27.3 per cent); equipment, machines and parts ($5.5 billion, up 72.6 per cent); footwear ($3.2 billion, up 15.4 per cent); and wood and wooden products ($2.4 billion, up 51 per cent). They made up 73 per cent of the country’s export turnover. Viet Nam also saw strong surge in shipments of several agricultural products, such as fruits and vegetables ($610 million, rising 14.6 per cent), rubber ($516 million, increasing 109.7 per cent), cashew ($442 million, up 21.5 per cent), and cassava ($256 million, up 78.2 per cent). The US was Viet Nam’s biggest importer as it splashed out $14.2 billion on Vietnamese products, or 38.2 per cent higher than the amount it spent the same time last year. China came second with $8.5 billion, followed by the EU with $6.3 billion, ASEAN $4.2 billion, South Korea $3.4 billion, and Japan $3.2 billion. Meanwhile, the country spent big ($47.26 billion) on imports, with the foreign-invested sector purchasing $31.64 billion worth of products from abroad for production, up 31.4 per cent, while that …

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