Xinhua News Agency reported from Vientiane capital, Laos on June 21 that the Vientiane Times reported, citing the words of Lao Agriculture and Forestry Minister Petch Prompriphaks. that Laos made income from agricultural exports during the first 6 months of this year totaling more than 870 million US dollars (approximately 30,600 million baht), representing 72.57% of the target for the full year.
The report states that The main agricultural exports for Laos are bananas, rubber, cassava, sugarcane, cattle and buffalo, with China being the largest buyer.
Mr. Petch made the remarks during the 3rd General Session of the 9th Legislative Assembly of the Lao National Assembly. last week that the government will encourage both domestic and foreign entrepreneurs to invest in agriculture to stimulate exports and added that Many local companies plan to invest in agriculture. to produce food for domestic consumption and export which is in line with government policy that want 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. significantly higher production This is mainly due to rising fuel prices.
In addition, the costs of machinery, fertilizer and feed are all rising 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.
to solve the above problem The Lao government is promoting the use of organic fertilizers. and locally produced feed to reduce import costs. Lao farmers need about 2 million tons of fertilizer per year, but currently can produce only 600,000 tons of organic fertilizer, and about 600,000 tons of animal feed, but 6 factories in the country can produce less than 400,000 tons, or 100. 60 each of the 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 spoiled goods more efficiently and faster by growing exports Make Laos receive more foreign currency. This will help maintain the stability of the kip currency.
Laos generated income from agricultural exports in 2021 at more than $900 million (about 31.7 billion baht), accounting for 82 percent of Laos’ target for the previous year.
Information-image : XINHUA