Indonesia sharply increases agricultural imports from Vietnam
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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.
Questions & Answers
Q.What is the primary reason for Indonesia's increased agricultural imports from Vietnam this year?
What is the primary reason for Indonesia's increased agricultural imports from Vietnam this year?
Indonesia's Ministry of Agriculture attributes the sharp rise in imports to the El Nino climate pattern. This has caused drought conditions in the country between May and July, necessitating greater reliance on external supplies.
Q.How significant is Indonesia's rice purchasing from Vietnam compared to last year?
How significant is Indonesia's rice purchasing from Vietnam compared to last year?
So far this year, Indonesia has imported 15 times the rice from Vietnam compared to the previous year. It has spent US$181 million, making it Vietnam's third largest rice buyer, up from eighth place.
Q.Which specific agricultural products have seen a significant increase in imports by Indonesia from Vietnam?
Which specific agricultural products have seen a significant increase in imports by Indonesia from Vietnam?
Indonesia's imports of rice, coffee, and seafood from Vietnam have seen substantial increases. Rice imports are up 15-fold, coffee over 185%, and seafood by 70%, driven by unfavourable weather conditions.
Q.What is the global outlook for key agricultural outputs given the current climate pattern?
What is the global outlook for key agricultural outputs given the current climate pattern?
The U.S. Department of Agriculture reports that global coffee, rice, and seafood outputs are currently flat due to El Nino. There is also a risk of further decline, which could lead countries to increase stockpiles.
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