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Vietnam fruit market update mid- August 2024 

 Thursday, August 22,2024

AsemconnectVietnam - Vietnam raked in more than 3.8 billion USD from fruit and vegetable exports in the first seven months of 2024, up 23.4% year on year, according to the Vietnam Fruit and Vegetable Association (VINAFRUIT).

In July alone, the country’s fruit and vegetable export value was at 477 million USD, an increase of 18% over the same period in 2023.
According to experts, this export turnover continued to increase due to strong demand from export markets. Of which, increase in export of durian, dragon fruit, and banana contributed to the export value growth.
Vietnam's fruit and vegetable exports to major markets all recorded high growth rates. In particular, China continued to be the largest export market for Vietnamese fruits and vegetables.
Fruit, vegetable exports expected to hit record of 7 billion USD in 2024
Vietnam’s fruit and vegetable export turnover is likely to hit a record high of 7 billion USD in 2024, driven by the current momentum and steady double-digit growth in recent times.
The country earned 3.83 billion USD from exporting fruit and vegetables in the first seven months of 2024, up 24.3% compared to the same period last year. Notably, this sector has seen double-digit growth in the top 10 export markets (excluding the Netherlands).
Recently, the Republic of Korea (RoK) agreed to import fresh pomelo from Vietnam.
According to General Secretary of the Vietnam Fruit and Vegetables Association Dang Phuc Nguyen, the export value of Vietnamese fruit and vegetables to the RoK and Japan is on the rise. In addition to building a brand and position in the traditional Chinese market, the fruit and vegetable sector is increasingly expanding in the Northeast Asian region.
Durian exports to top 3 billion USD in 2024
Durian exports are forecast to surpass 3 billion USD this year, according to the Vietnam Vegetable and Fruit Association (Vinafruit).
Vietnam earned more than 1.3 billion USD from shipping durian abroad in the first six months of 2024, up 40% year-on-year.
China has to date licensed over 700 growing area codes and nearly 200 packaging codes for Vietnamese businesses to export the fruit to this market.
Vinafruit said a protocol on the official export of frozen durian to China is being promoted and likely to be announced soon.
China spends about 1 billion USD on importing frozen durian every year. If Vietnam can export this type of product via the official channel to the neighbouring market and hold a 30% market share, it can earn some 300 - 500 million USD in revenue, equivalent to about 10% of this year’s estimated durian export turnover.
Hung Yen hopes to sell sweet longan to Japan
The northern province of Hung Yen, renowned for its fragrant and sweet longan, has worked to promote the export of the staple to Japan where stringent requirements on food safety and hygiene are in place.
Hung Yen is home to more than 4,600 hectares of longan, over 30% of which have been cultivated under VietGAP and GlobalGAP standards that yield more than 46,000 tonnes of fruit a year.
Quang Chau longan cooperative in Hung Yen city, whose 27.2 hectares of orchards were codes for export to Japan, has studied and applied advanced technologies into farming while registering for planting area codes, expecting an output of about 350 tonnes per year
According to deputy director of the cooperative Nguyen Van Biet, farmers have been required to strictly follow the cooperative’s cultivation process, prioritise organic fertilisers, and meet quarantine requirements before harvest to ensure food safety and hygiene.
Ample room for Vietnamese fruits in Northeast Asian market
Many kinds of Vietnamese fruits are increasingly gaining access to the Northeast Asian market, contributing to fulfilling the 2024 goal of 7 billion USD in export value of fruit and vegetables.
According to Dang Phuc Nguyen, Secretary General of the Vietnam Fruit and Vegetable Association, as of the end of July, the export of fruit and vegetables had earned 3.8 billion USD, with durian alone accounting for 40% of the total. This success is attributed to the implementation of free trade agreements (FTAs) that have opened market and reduced tariffs for Vietnamese agricultural products.
Notably, in addition to China, markets in the Republic of Korea (RoK) and Japan have seen remarkable growth, making up 80% of the total value of Vietnamese fruit and vegetable exports.
T.Huong
Source: Vitic/VNA

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