Tin mới
US dollar’s fall hurts farm exports (20/03)
06/08/2010 - 31 Lượt xem
The ministry is urging the Government to come up with a rescue plan to avoid what could be an industrywide crisis.
It has been suggested that the Government give priority to buying the export-derived US dollar, as it would ease the conditions for agricultural exporters who are struggling to stay afloat.
The diminishing value of the US dollar combined with a shortage of dong in circulation has hit the sector hard, particularly farmers’ productivity.
More succinctly, local enterprises do not have enough dong to buy farm products. It has been suggested that the Government push banks to loosen loan conditions to encourage investment and ensure an adequate crop yield next harvest.
Furthermore, the ministry has also asked the Government to consider instituting a petroleum subsidy for farmers.
The Government is targeting 60.7 billion USD in total export turnover this year, a 25 percent increase year-on-year.
Last year, the agricultural sector reaped more than 12 billion USD in export turnover, with several commodities posting earnings in excess of 1 billion USD, including coffee, fisheries, processed wood products, rubber and rice.
A recent ministry report indicates that the sector hopes for 15 billion USD in export value by 2010. More specific aims include an annual growth rate of 4-4.5 percent in agricultural production.
Source: VNA
