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Wednesday, November 6, 2024

Vietnam’s fruit, veggie exporters set sights on record US$7.5 billion

The Saigon Times

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HCMC – Vietnam’s fruit and vegetable exports are on track to reach an all-time high of US$7.5 billion in 2024, according to the Vietnam Fruit and Vegetable Association (Vinafruit).

In the first 10 months of the year, exports surged 31.5% year-over-year to US$6.34 billion, surpassing last year’s record of US$5.7 billion. Exporters are now intensifying efforts to sustain this growth through the year-end, capitalizing on market openings created by recent free trade agreements. The Ministry of Agriculture and Rural Development attributed the sector’s performance to rising global demand and strategic expansion initiatives.

Durian continues to lead the sector, accounting for over US$3 billion—nearly half of the sector’s revenue. Other top exports include bananas, mangoes, dragon fruit, and processed fruit products.

China remains Vietnam’s largest market, importing US$3.8 billion worth of Vietnamese fruits and vegetables in the first nine months of 2024, a 38% increase from last year. Other major markets, such as Thailand, the U.S., South Korea, and Japan, also posted strong double-digit growth.

According to Vinafruit’s general secretary, Dang Phuc Nguyen, durian exports have outperformed expectations. Despite the peak season ending in October, Vietnam continues to export off-season durian, aided by staggered harvesting methods. Nguyen noted that durian exports may reach US$3.5 billion this year, a remarkable feat for a single fruit.

The Ministry of Agriculture also reported that 5,840 planting areas have been granted export codes, with 40.2% of these certified for the Chinese market. Currently, 12 types of Vietnamese fruit are approved for export to China, with total exports to the market expected to reach US$4.5 billion this year.

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