New markets help fruit exports grow to record revenues

Vietnam's fruit export revenue hit 4.63 billion USD in the first eight months of 2024, representing an increase of 30.6% compared to the same period last year, thanks to the opening of several key markets.

Sunday, September 15, 2024 13:59

Vietnam earned 4.63 billion USD from fruit exports in the first eight months of 2024, rising 30.6% year on year. (Photo: VNA)

Hanoi (VNA) - Vietnam's fruit export revenue hit 4.63 billion USD in the first eight months of 2024, representing an increase of 30.6% compared to the same period last year, thanks to the opening of several key markets.

This year, Vietnam's fruit sector has had a stream of good news as many products cracked new markets. Pomelos are new to the Republic of Korea, followed by fresh coconuts and frozen durians, which have also been officially exported to China.

The official opening of markets for these products has helped diversify export markets and products, thus generating greater added value for Vietnamese fruits. The industry is forecast to grow even stronger this year if Vietnam takes advantage of market opportunities.

Durian - the "king of fruits," is the biggest contributor to the revenue, reaching approximately 1.7 billion USD in the first seven months of this year, accounting for 41% of the total.

Notably, the export of frozen durian is predicted to earn 400-500 million USD this year, and the product is expected to join the "billion-USD" club by 2025.

According to Deputy Minister of Agriculture and Rural Development Phung Duc Tien, the official export of frozen durian will bring a significant advantage, helping the sector diversify products and achieve higher values.

Doan Thu Giang, Chairwoman of the Board of Directors of Vinh Khang JSC, said apart from fresh durian, the company is now prepared to export frozen products as well.

According to Dang Phuc Nguyen, Secretary General of the Vietnam Fruit and Vegetable Association, the export of frozen durian will help balance production, stabilise prices, and increase income for both farmers and businesses.

In 2023, China spent nearly 6.7 billion USD on importing fresh durian and over 1 billion USD on the frozen product. The official export of frozen durian to China presents a chance for Vietnamese businesses and cooperatives to invest in infrastructure, and freezing and processing technology.

Nguyen said authorities need to quickly establish national standards that clearly define the criteria for fresh and frozen durian export, serving as a basis for accurate and objective quality control./.

VNA

#Durian #export markets #pomelo #fruit exports #China #Vietnam Fruit and Vegetable Association

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