Fruit and vegetable export poised for a record $5 billion this year
With the rapid growth registered from the beginning of this year, many were optimistic that the fruit and vegetable export would hit a new record of $5 billion.
Fruit and vegetable exports are poised for a record revenue of US$5 billion this year, driven by favourable conditions from the beginning of this year.
Statistics of the Ministry of Agriculture and Rural Development showed that fruit and vegetable exports were estimated at $3.45 billion in the first eight months of this year, an increase of 57.5 per cent over the same period last year and even exceeding the record value of $3.81 billion set in 2018.
With the rapid growth registered from the beginning of this year, many were optimistic that the fruit and vegetable exports would hit a new record of $5 billion.
The ministry said protocols that Việt Nam signed with China in 2022 helped Việt Nam’s fruit and vegetable exports to be robust this year, with durian, mango, dragon fruit and banana among products with large export value.
Đặng Phúc Nguyên, general secretary of the Việt Nam Fruit Association, said the increase in fruit and vegetable exports was driven by the increase in purchases of the Chinese market. In addition, many countries increased imports of vegetables and fruits from Việt Nam as their production was affected by drought and flood.
Statistics of the Import–Export Department under the Ministry of Industry and Trade (MoIT) showed that fruit and vegetable exports to China reached $2 billion in January – July, representing a rise of 128.5 per cent against the same period last year.
Deputy Director of the MoIT's Import – Export Department Trần Thanh Hải said that there was significant room for fruit and vegetable exports to expand in the remaining months of this year, especially with many festivals which would push up demand in many markets.
Việt Nam’s supply of fruits and vegetables was abundant in the last two quarters of this year, with around 7.6 million tonnes of fruits to be harvested.
Durian prices of Việt Nam were forecast to continue increasing in September while most supply sources in other Southeast Asian countries ran out as harvest season ended, providing an advantage to Việt Nam’s fruit exports.
Nguyên expected that durian exports for the full year would reach $1.5 billion. Việt Nam’s jackfruit export to the Chinese market will also increase sharply in the coming months.
Recently, Việt Nam’s coconut was granted permission to enter the US. This information has significantly pushed up prices of coconut in the Cửu Long (Mekong) River Delta by up to 50 per cent, from VNĐ15,000 – 20,000 for ten to VNĐ60,000 – 65,000. Việt Nam currently ranks seventh in the world in coconut production with a total area of about 188,000 hectares, mainly in Bến Tre, Trà Vinh, Tiền Giang and Vĩnh Long provinces.
Coconut exports were estimated at $900 million last year, making Việt Nam the fourth largest coconut exporter in Asia – Pacific. Currently, there are more than 90 firms which export products made from coconut. This year, the coconut export is expected to reach more than $1 billion.
Nguyên said that if the growth was maintained till the year-end, fruit and vegetable export could hit $5 billion this year, achieving the milestone two years earlier than the target set in the Ministry of Agriculture and Rural Development’s project of developing major fruit trees by 2025 and 2030.
Phạm Tất Thắng from the Vietnam Institute of Strategy and Policy for Industry and Trade said that it was critical to build brands, enhance quality to meet the requirements of import markets and promote export via official channels to export sustainably.
The focus should be placed on increasing the export of processed products to increase added value while ensuring stable prices during peak harvest seasons.
Nguyễn Như Cường, director of the agriculture ministry's Department of Crop Production, said that for sustainable export, the cultivation of fruits and vegetables must strictly follow the planning to increase competitiveness.
Fourteen fruits were selected to be the key fruits for development to 2025 with a vision to 2030, including dragon fruit, mango, banana, lychee, durian, longan, orange, pomelo, pineapple, rambutan, jackfruit, passion fruit, avocado and custard apple.
The agriculture ministry also said that the management of planting areas and packaging facilities to ensure the quality of products for sustainable exports should be tightened.
Việt Nam’s fruits and vegetables are present in 27 markets, 15 of which see revenue of more than $10 million. — VNS
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