Local authorities and businesses in Vietnam are trying to promote domestic consumption of agricultural products, which are piling up due to the impact of novel coronavirus outbreaks in China. Export turnover is forecast to decrease in the first quarter of this year due to the epidemic and subsequent impact on trade.
According to Nguyễn Bích Lâm, director general of the General Statistics Office (GSO), exports are estimated to fall 21 per cent to US$46.5 billion in the first quarter. Items including agricultural products, seafood, wood products and garment and textile products are likely to be the worst hit.
Exports to China are predicted to reach $5.6 billion, declining by 25 per cent year-on-year, with agricultural and wood products affected.
Insiders said that the agricultural sector is estimated to be most damaged by the epidemic from China, including dragon fruit, watermelon, seafood, wood and rice. However, it’s also an opportunity to change production and business methods to adapt to new challenges and difficulties, including those caused by the spreading of new strain of coronavirus (nCoV-2019).
According to thestar.com.my, Minister of Agriculture and Rural Development Nguyễn Xuân Cường said it’s necessary to develop both short and long-term scenarios.
