China's Ministry of Commerce hopes to see the country's farm
produce exports grow by at least 7 percent a year so that they will
be worth US$38 billion by 2010.
Sources with the ministry's foreign trade department said that
this "modest" objective would allow China to grow better quality
farm produce and raise the sector's competitiveness in the world
market.
China raked in US$27.2 billion from farm produce export last
year, representing 3.6 percent of China's total exports and 3.2
percent of the world's farm produce trade. The exports account for
9.6 percent of the value added of China's agricultural industry
official data revealed.
As the farm produce prices on world markets were much higher
than domestic markets over the past two years, China's farm produce
exports have been on the rise. Of the 30 staples monitored by the
ministry, 20 registered a growth in 2005 according to a report from
the foreign trade department.
For instance, the average export price for apples, pears,
chickens, gingers, potatoes and carrots were four to five times
higher than the domestic price last year. Chinese farmers were said
to have raked in 1.89 billion yuan from garlic alone.
China has also set up a special fund to provide export credit
insurance for domestic farmers. Last year, the insurance service
has assisted the export of farm produce worth US$1.44 billion,
twice as much as in 2004.
The report also revealed that more than 25 percent of farm
produce exporters who had their credit insured last year engaged in
risky poultry trade.
To facilitate China's farm produce export, the ministry also
plans to release monthly reports for 14 other products and export
guides on six additional regional markets this year including the
European Union and the Association of Southeast Asian Nations.
(Xinhua News Agency June 29, 2006)