Vietnam’s mango exports to US increases

Saturday, 14/11/2020 09:21
​The high demand for mango imports coming from the United States represents an opportunity for fresh Vietnamese mangoes to expand their market shares in this demanding market, VOV qouted projections made by the Ministry of Industry and Trade.
Photo for illustration (Source: vietnambiz.vn)

Statistics released by the US Department of Agriculture (USDA) indicate that the US imported over 497,000 tonnes of mangoes of various types with a value of USD567 million during the opening eight months of the year, representing an annual increase of 14.7% in volume and 15% in value.

The average import price of mangoes to the US during the reviewed period recorded a boost of 0.2% to USD1,140 per tonne compared to last year’s corresponding period.

Throughout the reviewed period Vietnam was the 12th largest mango supplier to the US market, exporting 135,000 tonnes worth USD2.8 million, up 87.4% in volume and 99.9% in value on-year. In addition, the import prices from the country stood at USD2,064.8 per tonne, up 6.7% against the same period last year.

Most notably, the US mainly imported frozen and fresh mangoes from Vietnam in the reviewed period. According to experts, local firms have been advised to meet stringent standards set by the US to increase their market share in the demanding market.

A prime example of raising standards can be seen in growing areas and packaging facilities requiring relevant codes for management and origin traceability, as well as a quarantine certificate issued by the Plant Protection Department and the US Department of Agriculture (USDA)'s Animal and Plant Health Inspection Service (APHIS).

People in Quang Binh province supported 7.7 billion VND

Through a preliminary assessment of the damage caused by the recent natural disasters and its effect on the people of Quang Binh province, the Food and Agriculture Organisation (FAO) has mobilized VND 7.7 billion from a number of organisations and individuals to donate to people across sevencommunes in Quang Binh province, the Nhan Dan newspaper said.

Photo for illustration (Source: baoquocte.vn)

On November 11, the People's Committee of Quang Binhprovince had a meeting with representatives of the FAO on supporting the restoration of food security and livestock production for vulnerable households affected by the natural disasters in seven communes in Quang Ninh district and sevencommunes in Le Thuy district, Quang Binh province.

The total amount has been divided into two tranches. The first package with an amount of VND 4.5 billion will help poor households buy food; the second package with an amount of VND 3.2 billion will support breeders to re-stock their livestock and poultry. Other forms of support will also be used such asgiving cash to people.

At the meeting, Tran Phong, Vice Chairman of the Quang BinhProvincial People's Committee thanked the FAO for its attention to and support of the Quang Binh provincial people.

Currently, the locality is mobilizing financial resources to build community houses for natural disaster prevention and control, in this regard the province has started construction on two works. Quang Binh province has asked the FAO to consider and mobilize funding to help build community houses for natural disaster prevention and control, he added.

Global Business Outlook believes Vietnamese economy could surpass Singapore

Global Business Outlook, a UK-based publication dedicated to covering a range of vital industries, has quoted a statement by the Development Bank of Singapore (DBS) which proposes that the Vietnamese economy could grow bigger than Singapore by 2029, the VOV reported.

Photo for illustration (Source: taichinhvietnam.vn)

This comes after the DBS predicted that the nation could grow at a pace of 6% to 6.5% over the next ten years.

The UK publication notes that according to Irvin Seah, the Bank’s senior economist, global financiers have begun to regard the country as a potential investment location in the region.

“Strong FDI from China and Hong Kong during the first four months of this year may well mark the beginning of a new trend,” says Seah.

Global Business Outlook also revealed a report by DBS report which outlines how the nation can benefit from the trade war between the United States and China because of its strategically position in the global manufacturing supply chain.

The report also indicates that FDI moving from China to Vietnam is ‘significantly stronger than usual’.

The DBS’s forecast is largely based on factors such as consistent robust foreign investment inflow and productivity growth over the coming years.

At present, the local economy is worth USD224 billion, 69% of Singapore’s economic size which is worth USD324 billion./.

Compiled by BTA

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