Vietnam’s fruit and vegetable exports have witnessed a remarkable increase of 38%, totaling approximately $749.7 million in the first two months of the year. Projections indicate a promising outlook for the industry, with expectations of reaching a peak near $7 billion by the end of the year. The sector’s growth momentum is anticipated to persist throughout 2024, supported by robust order books extending into the first quarter, as reported by the Lao Dong newspaper, underscoring the sector’s vast potential.
A recent agreement between the Vietnamese Ministry of Agriculture and Rural Development and the General Administration of Customs of China on phytosanitary requirements is poised to further boost exports, particularly in the durian segment, with an expected contribution of $3.5 billion. Dang Phuc Nguyen, General Secretary of the Vietnam Fruit and Vegetable Association, emphasized the significant role of trade with China, anticipating a surge in exports, particularly for durian, dragon fruit, jackfruit, banana, and mango varieties.
Deputy Minister of Agriculture and Rural Development, Phung Duc Tien, unveiled plans for additional Vietnamese products, including medicinal herbs, coconuts, frozen fruits, and watermelons, to enter the Chinese market through official channels. This strategic move is set to bolster Vietnam’s agricultural export revenue further.
Last year, Vietnam’s fruit and vegetable export turnover reached an impressive $5.6 billion, marking a substantial 66% increase from the previous year. Notably, durian exports surpassed dragon fruit in export value. China emerged as the largest importer, with a turnover of $3.7 billion, reflecting a remarkable nearly 250% increase in value and a 65% surge in market share compared to 2022.
#NewsUpdate #VietnamExports #FruitAndVegetableTrade #AgriculturalExports #InternationalTradeCouncil