With a turnover of more than 3.8 billion USD in the first 7 months of the year, along with abundant supply as the harvest season approaches, fruit and vegetable exports are expected to set a new record in 2024, reaching 7 billion USD, marking the remarkable development of the country’s agricultural sector.
According to a report from the Vietnam Fruit and Vegetable Association, in the first 7 months of 2024, Vietnam’s fruit and vegetable export turnover is estimated to reach more than 3.8 billion USD, up 23.4% over the same period last year. This is a remarkable achievement, reflecting the continuous efforts of businesses in improving product quality and expanding markets.
Fruit and vegetable exports continue to be favorable thanks to increased demand in traditional markets such as China and potential markets such as Korea, the United States, Japan, Thailand, etc. In the list of the top 10 import markets of Vietnamese fruits and vegetables, most of them recorded growth rates from 15% – 96%.
In particular, China maintained its position as the largest market, accounting for 64% of total export turnover with 2.1 billion USD in the first half of the year, up 22% over the same period last year. This was followed by South Korea and the US, reaching 164 million USD and more than 157 million USD, respectively, with impressive growth of 55% and 33%.
Notably, Thailand, a direct competitor of Vietnam in exporting fruits and vegetables to China, also increased its purchases of Vietnamese goods, reaching 97 million USD in the first 6 months of the year, nearly double that of the same period last year. This shows that the appeal of Vietnamese fruit and vegetable products is growing, not only in traditional markets but also in competitive markets.
Key products contributing to this growth include durian, banana and dragon fruit. Durian is especially popular in the Chinese market, not only in fresh form but also in processed products.
According to the Import-Export Department (Ministry of Industry and Trade), the demand for processed durian in China is increasing rapidly due to the high price of fresh durian and the difficulty of access for many consumers. Developing processed durian products is an important strategy to increase market share in this market.
In addition, in the near future, fresh Vietnamese coconuts will also be officially exported to China, promising to have another fruit that will reach the “billion dollar” mark. Because China’s demand for coconut imports is very large and tends to grow steadily, each year is higher than the previous year. Meanwhile, China’s coconut output only meets 10% of domestic consumption demand, the rest is imported. Therefore, Vietnam’s fruit and vegetable exports to the Chinese market are expected to continue to grow positively.
Along with China, Thailand is also a bright spot in Vietnam’s fruit and vegetable export picture. Although it is the world’s leading agricultural exporter and has many products similar to Vietnam, Thailand still increases its fruit and vegetable imports from Vietnam due to unfavorable weather fluctuations affecting their crops. Unusual heat has caused Thai durian to fail and ripen unevenly, leading to the country increasing its purchase of durian from Vietnam to compensate for the shortage.
Not only stopping at the Asian market, Vietnamese fruits and vegetables have also recorded an increase in demand in new markets such as the UK and the EU. These are markets with great potential and are being focused on by the Vietnamese fruit and vegetable industry. Expanding the market to Europe not only helps diversify product output but also increases export value, contributing to the target of reaching 7 billion USD in 2024.
According to the Import-Export Department (Ministry of Industry and Trade), Vietnam’s fruit and vegetable export activities will continue to face many favorable conditions in the coming time thanks to abundant domestic supply and increasing demand from traditional and emerging markets.
In addition, careful technical and legal preparation, such as negotiating and signing protocols for exporting frozen durian with China, will also create favorable conditions for Vietnamese enterprises to access and expand the market in a sustainable manner.
In the coming time, enterprises need to focus on capturing new consumer tastes in major markets. For the Chinese market, in addition to processed durian, products such as medicinal herbs, coconuts and frozen fruits are also promising to open for import. Flexibility in meeting diverse market needs will be the decisive factor for Vietnamese enterprises to strengthen their position and expand market share.