As a popular agricultural product in Vietnam with low prices, but bananas are very popular with Japanese consumers and are being sold at high value in this market.
This is clearly shown by the number of bananas imported from Vietnam by the Japanese market in the first eight months of 2022. Specifically, statistics from the Ministry of Industry and Trade show that, in the first eight months of the year, fruit imports bananas from Vietnam reached 5,700 tons, worth 687.9 million yen (equivalent to 4.6 million USD), up 20.1% in volume and 37.7% in value over the same period in 2021.
The Import and Export Department (Ministry of Industry and Trade) said that according to information from Japanese Customs, the import volume of this country’s bananas in the first eight months of 2022 reached 728,700 tons, worth 80.2 billion yen. equivalent to USD 539.3 million), down 3.3% in volume but up 4.9% in value over the same period in 2021.
It is worth mentioning that, while banana imports from the main markets all decreased in volume, imports from Vietnam, Peru, Indonesia, Thailand and Laos increased in the first eight months of 2022.
We know very well that Japan is one of the fastidious markets with very strict standards, especially factors related to food safety and hygiene, origin… Therefore, the contrary bananas – one of the most commonly grown products in Vietnam that can enter this market and become increasingly popular with Japanese consumers is a signal that the quality of our export agricultural products increasingly enhanced, thereby increasing the value.
According to an overseas Vietnamese living in Japan, with imported agricultural products such as Vietnamese bananas, Japanese consumers care a lot about the quality, freshness, and deliciousness of products. Don’t pay too much attention to the price. Even if they like it, they will choose gifts to give to relatives and friends that they cherish and love.
It can be affirmed that entering the Japanese market is a success of Vietnamese bananas as well as many other agricultural products such as lychee, mango… Japan is a difficult market, but when it has been conquered, If this market can be restored, Vietnamese fruits and agricultural products, including bananas, will have enough prestige to be able to participate in many other markets smoothly.
However, although Vietnam’s market share of bananas (HS 0803) in Japan’s total imports has increased, banana imports from Vietnam are still low, while this is the most consumed fruit compared to Japan. with other fruits in Japan.
According to sources from Reuters, Japanese households spend an average of 4,387 yen (equivalent to 29.9 USD) on bananas/year. Therefore, there are still many opportunities for domestic enterprises to expand Vietnam’s banana market share in this potential market.