It is projected that exports of key products will continue to rise sharply in the remaining months, laying the foundation for the fruit and vegetable sector to reach 7 billion USD in export revenue for the entire year of 2024.
According to the Vietnam Fruit and Vegetables Association (VINAFRUIT), in August 2024 alone, Vietnam's fruit and vegetable exports were estimated to exceed 700 million USD, up 26.8% over July and 50.8% over the same period in 2023.
Durian exports were estimated at 1.82 billion USD in the first eight months, a year-on-year increase of 45%, contributing 40% to the total fruit and vegetable export turnover.
General Secretary of the Vietnam Fruit and Vegetables Association, Dang Phuc Nguyen, stated: “The double-digit growth in export rates during the first eight months of this year demonstrates that the quality of Vietnamese fruits and vegetables has been gradually improving, meeting the requirements of international markets.”
Currently, Vietnam well-positioned to further accelerate its export growth, especially following the recent official signing of the protocols etween the Ministry of Agriculture and Rural Development of Vietnam and the General Administration of Customs of China (GACC). These agreements outline the requirements related to plant quarantine and food safety for frozen durian and fresh coconut exports from Vietnam to China. These two products are expected to experience a significant surge in export value as they tap into the vast Chinese market.
Nguyen Dinh Tung, General Director of Vina T&T Import-Export Trading Service Co., Ltd., said the company has been exporting fresh coconuts to markets such as the US and Japan. The approval for fresh coconut exports to the Chinese market opens up significant opportunities for the company to boost its turnover.
In addition, Vietnam’s bananas and mangoes are also dominating a large share in the Chinese market. Data from the GACC shows that in the first six months of 2024, Vietnam was the largest banana supplier to China with nearly 420,000 tonnes, an 18.5% increase compared to the same period last year, accounting for almost half of China's banana imports.
Vietnam is also the largest mango exporter to China, representing more than 50% of the country's total imports.
Beyond China, Vietnamese fruits and vegetables are penetrating other key markets such as the US, the Republic of Korea (RoK), and ASEAN countries. Over the past eight months, its export turnover of fruits and vegetables to most major markets has seen a positive growth. For instance, in early August, Vietnam’s pomeloes was granted export approval to the RoK.
According to the Agency of Foreign Trade under the Ministry of Industry and Trade, Vietnam's fruit and vegetable sector has a lot of opportunities for export growth in the remaining months of this year. Specifically, Vietnam has the advantage of a year-round durian supply, while Thailand and Malaysia are nearing the end of their durian harvest.
According to the Vietnam Fruit and Vegetable Association, processed fruit and vegetables alone are expected to reach 1.4 billion USD in export turnover in 2024, the highest figure ever. This not only contributes significantly to the export’s overall export value but also helps extend the shelf life and reduce consumption pressure on fresh products sales during peak harvest seasons.
