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ActionsFruit and vegetable exports could reach USD 7 billion this year
31/08/2024
According to data recently released by the Vietnam Fruit and Vegetable Association, Vietnam's fruit and vegetable exports in August are estimated to reach more than USD 700 million, an increase of 26.8% over the previous month and an increase of 50.8% over the same period last year.
In the first 8 months, fruit and vegetable exports are estimated to reach USD 4.58 billion, an increase of 29.1% over the same period last year. Of which, China continued to be the largest import market with a turnover of USD 2.93 billion, accounting for 64% of the total market share of fruit and vegetable exports of Vietnam, followed by the US with a turnover of USD 223.5 million, an increase of 31% and Republic of Korea with USD 223 million, an increase of 51% over the same period last year.
According to Mr. Dang Phuc Nguyen - General Secretary of the Vietnam Fruit and Vegetable Association - with a series of Vietnamese fruit and vegetable products just opening new markets (frozen durian, coconut to China, passion fruit to be exported to the US), Vietnamese agricultural products have many opportunities to surpass the record - nearly USD 5.7 billion last year.
According to Mr. Nguyen, the product that agricultural enterprises consider to have the most potential for breakthrough is frozen durian. In particular, opening the frozen durian market will help limit price drops during the peak harvest season.
“Previously, the export price of frozen durian from Vietnam was quite low due to the influence of rival countries. With a large market of 1.5 billion people, it is forecast that the price of frozen durian will increase significantly, this item alone can reach a turnover of up to USD 300 million in 2025,” Mr. Nguyen commented.
Regarding passion fruit products, according to Mr. Nguyen, in the past 5 years, Vietnam's output and export turnover of passion fruit has increased by more than 300%, and is always in the top 10 fruits with high export value. In 2023, the export turnover of passion fruit reached more than USD 222 million.
Currently, Vietnamese passion fruit has also been exported to markets with strict requirements on quality, quarantine, and food safety such as: Australia, France, Germany, Netherlands, Korea Republic, Switzerland, China, etc. with a fairly high proportion in the total import demand of these countries.
“Vietnam exports about 3-5% of its fruit output to the demanding European market, about 20% to China, and the rest is consumed and produced domestically in the form of juice. With the US opening its doors to passion fruit, it is forecast that the export turnover of this item could increase by USD 50-100 million,” said Mr. Nguyen.
For coconut products, the signing of the Protocol with China is expected to significantly increase export turnover in the near future.
Kylie Nguyen
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