Vietnamese Durian Prices Soaring on Low Supply

According to a local media report, durian prices in Vietnam’s main producing regions have soared recently, with farm gate prices exceeding 100,000 Vietnamese dong ($3.94) per kilogram as of July 10.

According to data collected from durian warehouses in Vietnam’s southwest, southeast and Central Highlands regions, farm gate prices for first-grade Monthong (“golden pillow”) durians ranged from 102,000 to 105,000 dong ($4.02–4.14) per kilogram, while second-grade fruit were selling for between 82,000 and 85,000 dong ($3.23–3.35) per kilogram. For first-grade Ri6 durians, prices were between 60,000 and 62,000 dong ($2.36–2.44) per kilogram, while those for second-grade fruit stood between 47,000 and 48,000 dong ($1.85–1.89) per kilogram. Compared with just half a month ago, this represents an increase of over 20,000 dong ($0.79) per kilogram for Monthong durians and an increase of 3,000–4,000 dong ($0.12–0.16) per kilogram for Ri6 durians.

Vietnam’s southeastern region is currently approaching the end of its durian season, while the season has just begun in the Central Highlands region. This has resulted in a low supply and high prices. Additionally, this year’s drought conditions in Vietnam have led to a poor durian harvest, with the proportion of first- and second-grade fruits in particular lower than in previous years, further driving up the prices of those durians that do meet export standards.

As of June, Vietnam’s fruit export value had exceeded $3.4 billion, representing an increase of over 28% compared with the same period of last year. Durian exports alone had reached $1.5 billion, accounting for 44% of the total value. On the basis of this momentum, Vietnamese authorities have set the goal of exporting $3.5 billion worth of durians over the course of 2024.

China and Vietnam have now completed the technical negotiations for the export of frozen Vietnamese durians to China. It is expected that once the phytosanitary protocol takes effect, Vietnam’s durian exports will grow further. Because frozen durians are evaluated more by the quality of their fruit pulp rather than external appearance, industry insiders in Vietnam predict that the country’s durian export volume will soon increase by an additional 30%.

In an effort to capture the lucrative Chinese durian market, producers across Southeast Asia are currently engaged in fierce competition. Malaysia recently secured China market access for its fresh durians, with shipments expected to commence in the third quarter of this year. Meanwhile, the China market share of Philippine durians remains minimal, and the country has yet to establish a significant brand presence. For its part, Indonesia is actively negotiating with China to gain market access for durians, with hopes of eventually securing an export share exceeding $1 billion.

Image: Pixabay

This article was translated from Chinese. Read the original article.