Fruit and vegetable exports likely to hit US$4 billion mark
Tuesday, October 9,2018AsemconnectVietnam - Vietnam’s fruit and vegetables exports may rake in US$4 billion throughout 2018 according to experts, fulfilling the target previously set by the sector.
During the first nine months of 2018, exports of fruit and vegetables are projected to grow 17.1% to US$3.1 billion against the same period last year with farm production showing signs of impressive growth.
The export value of fruit and vegetable products in September alone is estimated to be at US$380 million, bringing the country’s total export value up to US$3.1 billion, a 17.1% increase compared to last year’s corresponding period.
According to Tien Giang Vegetables and Fruits Joint Stock Company, Vietnam earned US$3.1 billion from fruit and vegetable exports, averaging over US$1 billion for each quarter.
With an increasing demand for fruit and vegetables in foreign markets during the fourth quarter, the country’s fruit and vegetable exports are likely to push earnings to US$4 billion this year.
This year alone the fruit market has seen a rise in both prices and supply sources, fuelled by favourable weather, especially for such fruit as lychees, longans, dragon fruit, avocados, and durian.
The market for vegetables however remained stable despite some periods affected by fluctuations in sales.
China is the largest consumer of Vietnam’s fruit and vegetables, accounting for 74.1% of the total market share, with revenue reaching nearly US$2 billion, up 11.6% in value against the same period last year.
Strong growth was reported in exports to Thailand, Australia the US, and the Republic of Korea.
Despite being the largest market of Vietnam’s farm produce, only eight types of fruit are shipped to China through official channels, including dragon fruit, water melon, lychee, longan, banana, mango, jackfruit and rambutan.
Despite Vietnam’s strong exports to China, Thailand exports up to 40 different types of fruit to the Chinese market, a five-fold increase compared to Vietnam. Cambodia has also successfully negotiated the export of six kinds of fruit to China.
At present, up to 60% of Vietnam’s farm produce has penetrated the Chinese market via unofficial channels, leading to risks in payment and quality. This is fueled by the difficulties Vietnamese businesses are encountering when trying to export goods to China through official channels.
Business representatives have previously encouraged the governments of Vietnam and China to negotiate increasing the types of farm produce Vietnam can export to China.
Source: VOV.VN
CPI increases about 4.2% in first quarter
Reference exchange rate 3 VND
DAILY: Vietnamese coffee prices rose by 400 VND on March 28
Tuna exporters aiming for smaller markets
Vietnam's retail market proves attractive for foreign investors
Main commodity groups exported to Indonesia in 2 months of 2023
Wheat imports increased slightly in first 2 months of 2023
Steel market update: Price rises despite falling demand
Tea export value to China skyrockets
Reference exchange rate up 2 VND at week’s beginning
DAILY: Vietnamese pepper prices remained unchanged on March 27
DAILY: Vietnamese coffee prices remained unchaged on March 27
Significant efforts needed to realise 4.3-billion-USD shrimp exports
Coffee exports to Netherlands enjoy three-digit growth
Plan on implementing Decision No. 327/QD-TTG dated March ...
Concretize viewpoints, objectives, tasks and solutions of the plan in accordance with practical conditions of the locality, associating ...Plan on implementing national environmental protection ...
Implementation plan of marine aquaculture development ...
Program on conservation and development of Vietnamese ...
Plan on improving quality of human resources to 2025 and ...
Efforts taken to turn culinary culture into national ...
The Vietnam Cuisine Culture Association (VCCA) is taking steps to implement a project to build and develop Vietnamese culinary culture ...Vietnamese cuisine making a name for itself with ...
Vietnam advance to next round of AFC U20 Women’s Asian Cup
Cultural tourism and traditional values promoted through ...