Monday, February 14, 2011

Rising global demand boosts prices for Vietnamese commodities

Hanoi - The value of Vietnam's agricultural exports was increasing due to global demand, authorities said Monday.

The country earned 1.6 billion dollars in January from commodities exports, up 13.4 per cent against the same period last year.

The Ministry of Agriculture and Rural development said the output of main commodities was little changed in January but export revenue had surged on higher prices.

Rice, coffee, rubber and peppers are Vietnam's main commodities.

On Monday, the Vietnam Coffee Association said the export price of beans was 41,000 dong or 1.97 dollars per kilogram, up 10,000 dong (0.48 dollars) compared with the beginning of the harvest in October.

The price of rubber latex had also increased to about 4,800 dollars per ton, nearly double compared to a year earlier.

Nguyen Viet Chien, statistics director of the ministry, was quoted by Vietnam Investment Review on Monday as saying 15,000 exported tons of cashew nuts were 14.3 less than the year before, in quantity, but brought 38.3 per cent higher revenues, at 98 million dollars.

(Source: http://www.monstersandcritics.com/news/business/news/article_1619145.php/Rising-global-demand-boosts-prices-for-Vietnamese-commodities)

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