Indonesia sharply increases agricultural imports from Vietnam
So far this year Indonesia has imported 15 times the rice it did from Vietnam last year and nearly triple the coffee due to unfavorable weather.
According to Vietnam Customs, it has bought US$181 million worth of rice, accounting for 9.5% of Vietnam’s exports this year and jumping from eight to third place in the list of its biggest rice buyers, behind the Philippines and China.
Indonesia’s coffee imports from Vietnam have been worth over $76 million, up 185%.
Its vegetables imports rose by 20% at $2.44 million, and seafood imports by 70% to $7.83 million.
Indonesia’s Ministry of Agriculture said agricultural imports have shot up due to El Nino, which is causing drought between May and July.
The government has decided to import two million tons of rice this year.
The U.S. Department of Agriculture said global coffee, rice and seafood outputs are going flat due to El Nino and there is a risk of further decline, which would cause countries to increase stockpiles.
The El Nino-Southern Oscillation is a recurring climate pattern caused by changes in water temperature in the central and eastern tropical Pacific Ocean.