Root vegetable products cause exports to rise
- Details
- Category: Economic Releases
- Created: 27 July 2015
| Agricultural Exports Volume May 2015 |
||||
| May 15 | Apr 15 | Mar 15 | Feb 15 | |
| Total Volume * (tonnes) |
507.9 | 412.3 | 365.1 | 433.7 |
| * Total volume figures were revised in march 2015 by the Ministry of Agriculture, Forestry, Food and Fisheries |
||||
Root vegetable products cause exports to rise
Total agricultural exports increased by 23.2% over May due to the continued rise in root vegetable products, specifically, Yam, Sweet Potato and Cassava. In addition, vegetable products such as cured beans and leaf vegetables also contributed to the monthly rise. A large increase in rainfall over March through to May supports the rise in respective agricultural yields. In contrast, Fruit products decreased particularly breadfruit, coconuts, and watermelon exports due to seasonal conditions.
In annual terms, total agricultural exports fell by 14.9% due to decreases in Fruit products and other vegetable products. This coincides with export receipts falling by 35% over the year to May. In particular, there was a decline in squash, coconuts, and watermelon exports. Despite enabling conditions set in place such as managed funds loans to assist in boosting agricultural growth, the adverse weather conditions throughout the year had largely affected agricultural output. Contrastingly, root vegetable products increased by 7.9% over the year as a result of more drought resistant crops, namely Cassava exports.
On the outlook, NRBT expects the agricultural sector to rebound in the 2015/16 financial year. This projection is supported by actual data available up to May 2015 and liaisons with growers who have indicated that they are optimistic for the new term. However, uncertain weather conditions still pose a significant risk for the outlook of the agricultural sector. The NRBT will continue to closely monitor the country’s economic and financial conditions in order to maintain an adequate level of foreign reserves and promote price stability.
| Agricultural Export Volumes Tonnes |
|||||||
| Month ended * |
Year ended | Memo: Share ** |
|||||
| May 15 |
Apr 15 |
Mar 15 |
May 14 |
May 15 |
May 14 |
||
| Total | 507.9 | 412.3 | 365.1 | 711.1 | 8,737.0 | 10,265.0 | 100.0 |
| Squash | - | - | 0.0 | 0.0 | 2,204.7 | 3,80.9 | 25 |
| Taro | 19.9 | 21.6 | 29.9 | 234.1 | 1,397.9 | 1,659.9 | 16 |
| Coconut | 110.6 | 111.9 | 119.1 | 201.2 | 1,592.1 | 1,761.2 | 18 |
| Yam | 139.4 | 112.3 | 43.7 | 124.2 | 1,318.9 | 1,393.0 | 15 |
| Cassava | 208.8 | 108.6 | 89.5 | 94.3 | 281.7 | 358.1 | 17 |
| Vanilla | 0.7 | - | 0.0 | 0.0 | 3.6 | 4.5 | 0 |
| Other | 28.8 | 58.0 | 82.8 | 57.3 | 691.3 | 809.6 | 8 |
| * Series is volatile due to seasonality of crops ** Based on the most recent 12 months of data Sources: Ministry of Agriculture, Forestry, Food and Fisheries |
|||||||
 |
 |
 |
 |
Download the Agricultural Exports Volume for May for more information.
