With an export value of over USD 3.8 billion in the first seven months of the year, fruit and vegetable exports are expected to set a record by reaching USD 7 billion in 2024.

China remains the largest export market for Vietnamese fruits and vegetables

According to a report from the Vietnam Fruit and Vegetable Association, in the first seven months of 2024, Vietnam's fruit and vegetable export value is estimated to exceed USD 3.8 billion, an increase of 23.4% compared to the same period last year. This is a remarkable achievement, reflecting the relentless efforts of businesses to improve product quality and expand markets.

Fruit and vegetable exports continue to thrive due to increased demand in traditional markets like China and potential markets such as South Korea, the United States, Japan, and Thailand. Among the top 10 import markets for Vietnamese fruits and vegetables, most recorded growth rates ranging from 15% to 96%.

Notably, China maintains its position as the largest market, accounting for 64% of the total export value with USD 2.1 billion in the first half of the year, an increase of 22% compared to the same period last year. Following China are South Korea and the United States, with USD 164 million and over USD 157 million respectively, showing impressive growth rates of 55% and 33%.

Interestingly, Thailand, a direct competitor of Vietnam in exporting fruits and vegetables to China, has also increased its purchases from Vietnam, reaching USD 97 million in the first six months, nearly double the amount from the same period last year. This indicates the growing appeal of Vietnamese fruits and vegetables not only in traditional markets but also in competitive ones.

Commenting on Vietnam's fruit and vegetable export market, Mr. Phung Duc Tien, Deputy Minister of Agriculture and Rural Development, stated that Vietnam has officially exported more than a dozen types of fruits to China, including watermelon, mangosteen, durian, fresh bananas, sweet potatoes, dragon fruit, rambutan, mango, lychee, longan, and jackfruit. Notably, Vietnam and China recently signed a protocol to finalize negotiations on phytosanitary requirements for fresh coconut exports, opening up new prospects for Vietnamese coconut exports. It is expected that this year, Vietnam and China will sign new protocols on the export of frozen durian, passion fruit, and chili peppers, further expanding the export of agricultural products to China.

The Vietnam Fruit and Vegetable Association also forecasts that export value could reach USD 7-7.5 billion this year if frozen durian or fresh coconut are included under current negotiation agreements with China. With a plentiful supply able to meet high market demand, exporting businesses expect to set new records this year.

Thailand is increasing its imports of Vietnamese fruits and vegetables due to weather impacts

Along with China, Thailand is also a bright spot in the export landscape of Vietnamese fruits and vegetables. Despite being a top agricultural exporter globally and having many products similar to Vietnam, Thailand has increased its imports from Vietnam due to adverse weather conditions affecting their crops. Unusual heat has caused Thai durians to yield poorly and ripen unevenly, leading Thailand to boost its imports of Vietnamese durians to compensate for the shortfall.

Durian is especially popular in the Chinese market

Vietnamese fruits and vegetables are also seeing increased demand in new markets such as the UK and the EU, beyond the Asian market. These are significant potential markets that Vietnam's fruit and vegetable industry is focusing on exploiting. Expanding the market to Europe not only helps diversify product outlets but also enhances export value, contributing to the goal of reaching USD 7 billion in 2024.

Leaders of the Export-Import Department believe that Vietnam's fruit and vegetable export activities will continue to face many favorable conditions in the near future, thanks to abundant domestic supply and increasing demand from both traditional and emerging markets.

Additionally, thorough technical and legal preparations, such as negotiating and signing export protocols for frozen durian with China, will facilitate Vietnamese enterprises in sustainably accessing and expanding the market.

In the near future, businesses need to focus on capturing new consumer trends in major markets. For the Chinese market, besides processed durian, products such as medicinal herbs, coconuts, and frozen fruits are also promising for import. Flexibility in meeting the diverse demands of the market will be a decisive factor for Vietnamese enterprises to strengthen their position and expand market share.

Compiled by Vietnamexport