Vietnam’s Produce Exports in Q1–Q3 Set To Exceed $4 Billion

According to data from Vietnam Customs, the Vietnam Fruit and Vegetable Association expects total fruit and vegetable exports in the first three quarters of 2023 to exceed $4.1 billion, marking a remarkable year-on-year increase of nearly 70%. This impressive growth has been primarily driven by durians, bananas and dragon fruit, with durians leading the pack, surpassing $1 billion in export value and projected to reach $1.5 billion as early as next month.

China maintains its position as Vietnam’s largest export market, accounting for 64% of Vietnamese fruit and vegetable exports. In the first eight months of this year, China imported $2.3 billion worth of fruit and vegetables from Vietnam, a 134% increase compared with the previous year. This was far ahead of Vietnam’s exports to the United States ($168 million), South Korea ($148 million) and Japan ($123 million). Notably, fruit and vegetable exports to the United States declined by 6% compared with the same period of last year.

As of August, Vietnam had exported over 300,000 metric tons of fresh durians. The advantage of Vietnamese durians lies in their extended harvest period, enabling the market to be supplied even during the off-season when producers in Thailand and the Philippines struggle to meet demand.

Vietnam has achieved considerable success in opening up new markets this year, including exporting grapefruit to Japan, South Korea, Australia and India. Furthermore, the United States has recently granted permission for imports of husked coconuts from Vietnam, and negotiations are underway for the export of passion fruit to both the United States and Australia.

Chinese imports of bananas and jackfruit from Vietnam are also on the rise, with prices higher than last year. China’s General Administration of Customs is expected to grant permission for fresh coconut and passion fruit imports from Vietnam in the coming months, which could propel Vietnamese fruit and vegetable exports to the $5 billion mark by the end of the year.

Despite the surge in exports, Vietnamese exporters have expressed concerns about intermediaries inflating purchase prices. This has resulted in farmers reneging on contracts, making it challenging for exporters to fulfill agreed-upon orders and leading to significant losses. Concurrently, following the detection of contamination in certain batches, Vietnam’s Plant Protection Department has temporarily suspended exports from durian growing areas and packaging facilities suspected of violations while conducting a comprehensive review.

Image: Pixabay

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