Vietnam fruit market update mid-June 2024
Thursday, June 20,2024AsemconnectVietnam - Vietnam's fruit and vegetable exports are flourishing, with an annual 28.1% increase in value to $2.59 billion recorded in the first five months of this year.
Durian, dragon fruit, jackfruit, and banana remain major currency earners, said Chairman of the Vietnam Fruit and Vegetables Association Nguyen Thanh Binh.
He predicted the positive trend will continue, citing abundant domestic supply and rising demand from both traditional and emerging markets.
However, Director of the Department of Crop Production under the Ministry of Agriculture and Rural Development (MARD) Nguyen Nhu Cuong highlighted a potential challenge.
Unfavorable weather conditions have significantly reduced the preliminary estimate for lychee production in 2024. The current forecast sits at around 200,000 tonnes, a decrease of nearly half compared to 2023.
Lychee: prices triple at season end
Retailers are selling end-of-season lychees at up to VND180,000 (US$7.1) per kilogram, thrice the price a year ago, due to a poor harvest.
They are not as plentifully available as in previous years in HCMC and cost VND165,000-180,000 at premium stores and VND85,000-96,000 at large retail chains like MM Mega Market and Winmart.
Some supermarkets have run out of stock while others are selling the fruit in very limited quantities at VND120,000-135,000.
Lychee output took a nosedive this year. In Bac Giang Province’s Luc Ngan District, a major producer of the fruit, lychee farmer Nguyen Thi Hien had expected her output to decrease by 30% this year, but she said it has dropped by 60%.
She sold her last half a ton at VND80,000 per kilogram, the highest price she has got in her life.
According to the Luc Ngan People’s Committee, even buyers and processing facilities in the district have been struggling to source lychees. While farmers usually have to transport the fruit to markets, traders are buying right at the farm gate this year, it said.
According to statistics from the Bac Giang Department of Industry and Trade, farmers in the province have harvested 67,000 tons so far this year.
Around 43,000 tons have been consumed domestically, and the rest has been exported, the department said.
China bought 23,800 tons of the remaining 24,000 tons. Japan, the U.S., the EU, Australia, Dubai, and some Southeast Asian countries also imported Vietnamese lychees.
Egg-shaped lychee: prices jump 20%
Egg-shaped lychees from northern Hung Yen Province are being sold at VND240,000 (US$9.43) per kilogram in HCMC and Binh Duong Province, 20% higher than a year ago, on lower output.
They are up 19% in Hanoi at VND190,000.
A similar variety grown in Hai Duong Province costs VND160,000-170,000.
Hong, the owner of a fruit store in HCMC, said the lychee is much sought-after and sells out quickly despite the high prices.
Rubyglow pine apples: sold out for $400 each in US
Red-shelled Rubyglow pineapples, each priced at US$395.99, have been sold out in the U.S. after being launched there just earlier this month.
Only 50 of the rare fruit, each weighing around 800 grams, were sold in the U.S. by California-based specialty fruit seller Melissa's Produce, according to USA Today.
Over the first few weeks, only half of the pineapples were sold, most of them to restaurants in Las Vegas and Southern California, CNN reported, citing Robert Schueller, director of public relations at Melissa’s Produce.
However, by Monday afternoon, the retailer’s website had listed the product as sold out. The sellout was attributed to Americans’ interest in new fruit varieties in recent years and willingness to shell out for exotic options.
Dragon fruit: prices increase by 50% as supply nosedives
Traders are buying grade 1 dragon fruit at the farm gate for VND45,000 (US$1.8) per kilogram, 50% higher than a year ago, amid a drought that has hit output.
Grade 2 prices are VND35,000-40,000.
Farmers are earning profits of VND250-400 million per hectare. However, Luan in Binh Thuan said this year’s output decreased by 20% over the same period last year, so after deducting costs, his family only made a profit of VND50 million after selling 2.5 tons of dragon fruit.
Ho Nam, a trader in Binh Thuan, said dragon fruit demand exceeds supply, resulting in higher prices. He only manages to buy one to two tons a day compared to three to four tons a year ago, he said. "This year’s intense heat and drought have caused many orchards to dry out and trees to die, causing output to drop by 20-30%."
T.Huong
Source: Vitic
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