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| Fruit and vegetable exports are expected to hit 7 billion USD this year . (Photo: CPV) |
According to the association, in the first seven months of 2024, the country’s fruit and vegetable export turnover was estimated to reach more than 3.8 billion USD, an increase of 23.4% over the same period in 2023.
Among the top 10 import markets of Vietnamese fruits and vegetables, most grew from 15% to 96%. China is still the largest market, accounting for 64% of the total export turnover with 2.1 billion USD in the first half of the year, up 22% over the same period. It was followed by the Republic of Korea with 164 million USD and the US with more than 157 million USD, up 55% and 33%, respectively.
Thailand, a competitor of Vietnam in exporting fruits and vegetables to China, also increased purchases of Vietnamese goods, reaching 97 million USD in the six months, nearly two-fold increase over the same period last year.
Durian, banana and dragon fruit are the main products contributing to the growth of export turnover in the first seven months of the year.
According to the Import-Export Department under the Ministry of Industry and Trade, Vietnam’s fruit and vegetable export activities will be favorable thanks to abundant domestic supply and the demand from traditional and potential markets tending to increase.
Specifically, in Vietnam’s largest fruit and vegetable export market, China, Vietnam’s fruit and vegetable market share has increased sharply from 7.9% in 2022 to 13.99% in 2023. Currently, authorities of Vietnam and China have completed technical negotiations and will soon sign protocol on the official export of frozen durian. In addition, products such as medicinal herbs, coconuts and frozen fruits will also be opened for import by China in the near future.
In addition to the Chinese market, the first months of 2024 also recorded new developments in Vietnam’s fruit and vegetable exports to Thailand, although this is the world’s leading agricultural exporter and has many similar products with Vietnam.
The demand for imports of fruits and vegetables in new markets such as the UK and EU is also increasing. This is a huge market space for Vietnam’s fruit and vegetable industry to exploit, aiming at its export target of 7 billion USD this year./.