Vietnam Update – Oct 2016

ECONOMIC UPDATE

The strengthening of the Manufacturing sector contributed significantly to the growth of the Vietnamese economy.

Nikkei’s Purchasing Manager Index (PMI) dipped to 51.7 in October from 52.9 in September, due to flat output growth in the month despite strong demand from both domestic and export markets. Meanwhile, the Industrial Production Index stood at 7.2% YoY in October, of which manufacturing improved by 10.7% YoY, attributing itself as the greatest stimulant for the broader industry’s development1.

Consumer Price Index (CPI) increased 0.83% MoM and 4. 09% YoY in October on the higher prices of healthcare as well as transportation baskets due to the upward adjustment of healthcare fees in 15 provinces and the two consecutive increases in petroleum prices this month1. Domestic consumption, on the other hand, incurred a slight slowdown, standing at 9.3% YoY and 7.4% YoY in terms of nominal retail sales and real retail sales, respectively1.

The country’s trade balance recorded a deficit of USD 200 million in October after 3 consecutive months incurring trade surplus, lowering the YTD trade surplus to USD 3.52 billion1. Both…

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Duxton’s Agri Bits and Pieces Vol. 308

QUOTE OF THE WEEK

This week’s quote comes from the article ‘The application of genomics and bioinformatics to accelerate crop improvement in a changing climate’. Whilst not all of the predicted changes in climate will have an immediate negative impact on agriculture, increasing drought events and their severity may. This week’s quote looks at ways to overcome these disruptions.

“With the predicted changes in climate likely to disrupt global food supplies, immediate action is required to ensure global food security. In addition to the continued monitoring of climate and its impact on food crops, new crops and varieties are required which are tolerant to abiotic stress, resistant to pests and diseases and demonstrate greater nutrient use efficiency. Advances will predominantly be improvements on current major crops but may include the adoption of new species which have not previously been considered for domestication.”

 CHINA IS NOW AUSTRALIA’S BIGGEST WINE EXPORTS MARKET

The massive growth in China’s middle class has been a godsend for the Australian wine industry, with…

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Duxton’s Agri Bits and Pieces Vol. 307

QUOTE OF THE WEEK

This week’s quote comes from Dr Ben Lyons, chief executive of the Toowoomba and Surat Basin Enterprise group, and highlights the importance of agricultural technology for Australian and New Zealand agriculture.

“In order to remain competitive and capitalise on global growth opportunities, they need to generate global investment interest to help upscale the Asian agtech sector. Asia is on the cusp of an ‘ideas boom’ in agricultural technologies. Australian and New Zealand innovators and investors are perfectly positioned to help fuel and capitalise on this boom.”

 WORLD FOOD PRICES CLIMB AGAIN AS MILK, SUGAR PRICES SURGE: FAO

The Food Price Index climbed 2.9 percent in September from August, mainly driven by a surge in dairy products prices, according to data released by the United Nations Food and Agriculture Organization (FAO) on Thursday.

Prices for grains and cereals, the largest component in the index, fell 1.9 percent, due to good rice harvests in Asia. But that was not enough to offset gains in other…

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