VN’s coffee, dairy sectors to rise sharply, reports BMI
VGP - The Business Monitor International Company (BMI), an international provider of proprietary data, analysis, ratings, rankings and forecasts about 175 countries and 22 industrial sectors, has expressed its optimistic forecast about the development of Việt Nam’s coffee, dairy and butter sectors.
BMI predicts that Việt Nam’s coffee output by 2014 will grow 23% and
dairy butter products by 41% against 2009. The production of fowls, meat, beef
and rice in that year will rise by 33%, 31%, 21%, and 18% respectively, the
report says.
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Thanks to the Vietnamese Government’s commitments to better quality of
coffee beans and boosting export by buying huge amounts of coffee beans from
farmers, the country’s agriculture, which plays an important role in the national
economy, will increase its export volume.
BMI estimates that Việt Nam’s dairy and butter sector will see sharp
growth since the TH Dairy Products Ltd in April started constructing the
country’s biggest milk processing factory in the central
BMI expects that Việt Nam’s gross domestic product in 2010 grows 4.4%,
inflation rate 10.2%, and the population reaches 89.2 million. BMI said that
Việt Nam needs more investments from private and public sectors to raise its agricultural
production.
