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Wednesday, June 26, 2024

Fruit, veggie exports soar to all-time high

The Saigon Times

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HCMC – Vietnam’s fruit and vegetable exports have leapt to unprecedented highs, driven by the strong demand of China and the sector’s ongoing market diversification efforts.

The agricultural sector has achieved a remarkable milestone, with fruit and vegetable exports having surpassed US$5.2 billion year-to-date, up a significant 70% over the same period in 2022, showed data from the Vietnam Fruit and Vegetable Association (Vinafruit).

Durian has emerged as the leading export earner, accounting for 40% of the overall export revenue. Other fruits such as jackfruit, watermelon, pomelo and longan have also registered substantial export growth, ranging from 50% to 200%.

Remarkably, the fruit and vegetable sector has outpaced traditional agricultural exports like rice, cashew, coffee and cassava.

China has remained the top importer, representing 66% of Vietnam’s total fruit and vegetable exports, with a cumulative value of US$3.2 billion over the past 10 months. Although there is a slight dip of over 3%, the U.S. has retained its position as a key market with US$212 million. South Korea has recorded a 25% year-on-year increase at US$187 million, and Japan saw a 7% rise at US$151 million.

Dang Phuc Nguyen, secretary general of Vinafruit, has attributed this surge to increased demand from China and strategic trade agreements signed in 2022. Additionally, significant improvements in logistics infrastructure, including roads, warehouses, and shipping terminals, have played a pivotal role in reducing costs and enhancing competitiveness.

Vietnam’s success extends beyond sheer volume; diversification and enhanced quality also contribute. Durian benefits from additional planting zones, while improved quality across various fruits stabilizes and expands market reach.

As negotiations for new markets continue, Vietnam anticipates broader global reach. Talks include exporting passion fruit to the U.S. and Australia, pomelo to Japan, South Korea, Australia, and India, and durian to India.

Experts predict that Vietnam’s fruit and vegetable exports will reach US$5.5 billion by the end of 2023, driven by year-end consumption and growing interest from China in various new fruits.

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