Lao PDR exports tomorrow “Agricultural products” made the first half of the year exceeded 30 billion!

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Lao PDR exports tomorrow “Agricultural products” made the first half of the year exceeded 30 billion!

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Lao PDR exports tomorrow – Xinhua reported from the Vientiane Times newspaper that Mr. Pet Prompriphak Minister of Agriculture and Forestry of Laos stated that Laos made income from export agricultural products Including important export products such as bananas, rubber, cassava, sugarcane, cattle and buffalo, in the first six months of this year, the total amount was more than 870 million US dollars (or about 30,600 million baht), representing 72.57% of the target for the whole year.

Speaking during the 3rd General Session of the Ninth Legislative Assembly of the Lao National Assembly (NA) held on Friday, June 17, he said: The government will encourage both domestic and foreign entrepreneurs to invest in agriculture to stimulate exports.

Lao PDR exports tomorrow

Laos earned more than 870 million U.S. dollars from the export of agricultural produce over the past six months of 2022, equaling 72.57 percent of the target for the whole of 2022. The main farm products exported were bananas, rubber, cassava, sugarcane, cattle and buffaloes, with China being the largest purchaser. /fruitnet/

He added that many local companies plan to invest in agriculture. to produce food for domestic consumption and export This is in line with the government’s policy to promote production in this sector.

Laos currently has more than 2,000 livestock farms, of which 655 are cattle farms, 553 pig farms, 711 poultry farms, and the rest are goat, sheep and other animal farms. However, farmers and producers in Laos have been hit hard by rising production costs. This is mainly due to rising fuel prices.

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In addition, the cost of machinery, fertilizer and feed are all increasing rapidly. This is because these goods are imported from abroad and must be paid in foreign currency. This is costly as the kip continues to depreciate.

And to solve the above problem, the Lao government is promoting the use of locally produced organic fertilizers and feed to reduce import costs. Lao farmers need about 2 million tons of fertilizer per year.

Lao PDR exports tomorrow

Cassava tops list of Laos’ agricultural exports. Local daily Vientiane Times on Monday quoted Minister of Agriculture and Forestry Phet Phomphiphak as saying at the Third Ordinary Session of the National Assembly (Ninth Legislature) of Laos last Friday that the government will encourage more domestic and foreign business operators to invest in agriculture, in order to boost exports. /Vientiane Times/

But at present, only 600,000 tons of organic fertilizer can be produced, and about 600,000 tons of animal feed is required, but six factories in the country can produce less than 400,000 tons, or 60 percent of total demand.

However, Laos has a huge opportunity to increase crop yields for export. especially to China Because now the China-Laos railway can transport perishable goods. more efficiently and quickly With growing exports, Laos has gained more foreign currency, thereby helping to stabilize the kip.

Laos generates more than $900 million in agricultural exports in 2021, or about 82 percent of Laos’ target for the previous year.

Lao PDR exports tomorrow

The growth of exports can earn more foreign currency for Laos, which would help to stabilize the value of the kip. In 2021, Laos earned more than 900 million dollars from the export of agricultural produce, accounting for 82 percent of the target figure set for that year. /Phavanh SOSAMPHAN/

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