In the reviewed period, rice export is calculated to hit over US$1 billion with 2.35 million tonnes, up 1.2% in value but down 2.1% in volume compared with the same period in 2015.

Nguyen Chi Kien from the Institute of Policy and Strategy for Agriculture and Rural Development said despite pressure from Thailand’s announcement on selling 11.4 million tonnes of stockpiled rice, the domestic rice price has started to rise recently.

The export of coffee in the first five months has seen a surge with 797,000 tonnes, an increase of nearly 34% year-on-year, which generated a revenue of US$1.36 billion (up 10.7%).

Meanwhile, cashew nut exports are estimated at 119,000 tonnes, fetching over US$910 million, an expansion of 2% in volume and 9.8% in value compared with the same period in 2015. Meanwhile, the country has shipped 391,000 tonnes of rubber, earning US$561 million in revenue, up 20.5% and 19.7%, respectively.

Pepper exports are expected to achieve 87,000 tonnes and US$627 million, a 19% increase in volume but down 7.3% in value against the same period last year.

Alongside this, the seafood export turnover is estimated at US$2.43 billion, up 1.1% year-on-year, while exports of key forestry products are forecast to bring home US$2.69 billion, representing a year-on-year decrease of 1.8%.