Vietnam Update – Sept 2015

ECONOMIC UPDATE

August witnessed the third unexpected devaluation of the Dong while economic indicators continued to show improvements.

Nikkei’s Purchasing Manager Index edged down to 51.3 in Aug from 52.6 in July, yet manufacturing activities remained in a state of expansion. It was believed that increasing competition from Chinese manufacturers, coupled with weaker demand from international markets, weighed on the growth of new orders as well as production output. Meanwhile, the Industrial Production Index registered an expansion of 9.9% YoY, much higher than the growth of 6.3% of the same period last year1.

August Consumer Price Index (CPI) slid 0.07% MoM while headline inflation stood at 0.61% YoY on cheaper pump prices and slower consumption of housing and construction material during the rainy season1. Inflation is expected to return in September due to tuition hikes during the back-to-school season; however fuel price cuts and the continued downtrend of the housing and construction material market will moderate the rate of increase.

Trade balance registered a slight deficit of USD 100 million in August, widening YTD trade deficit to USD 3.6 billion1….

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Duxton’s Agri Bits and Pieces Vol. 253

QUOTE OF THE WEEK

This week’s quote comes from the World Resource Institute and demonstrates the integral part agricultural land plays in our global economic system.

“Restoring 150 million hectares of degraded land into productivity could feed 200 million people by 2030, raise $35-$40 billion in farm incomes, strengthen climate resilience and reduce emissions.”

Read more: http://goo.gl/tWAJyc

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ABORIGINAL LAND OPEN FOR FARMING

Hundreds of hectares of Aboriginal Land Council-owned country in the north eastern part of NSW are now earmarked for primary production, following a historic joint venture deal with the company behind plans to build a rail and grain terminal at Casino.

Work started last week on a $12.7 million private rail terminal and a 35,000 tonne, $16m grain handling facility just north of Casino.

The deal between Casino Rail Freight Terminal (CRFT) and the Casino Boolangle Local Aboriginal Land Council will see the day-to-day running of the terminal and its local distribution network, and an on-site intensive cattle farming operation that will utilise incoming grain, hand- led by a workforce sourced by the land council.

The land council, meanwhile, will use large amounts of…

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Duxton’s Agri Bits and Pieces Vol. 252

QUOTE OF THE WEEK

Average global per capita income is expected to double between now and 2040. As income levels grow, more people will join the middle-class leading to diversified diets and increased food consumption. This week’s quote comes from Rural Industry Futures: megatrends impacting Australian agriculture over the coming twenty years and demonstrates the growth of per capita income.

“According to data from the Organisation for Economic Cooperation and Development (OECD) the average income for a world citizen – measured as GDP per capita which is the world’s total economic output divided by the number of people – is currently US$14,000 per year. This is forecast to grow to US$17,000 by the year 2020; to US$22,000 by the year 2030 and US$28,000 by the year 2040.”

Read more: https://goo.gl/BHEUPU

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WINEMAKERS ENJOY EXPORT LIFT

The Australian wine industry marked a significant milestone recently.

The value of its exports in the financial year to June 2015 rose 5 per cent to $1.89 billion while volume of exports rose 4 per cent to 724 million litres – the first rise in export value since 2006-07, and…

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