Vietnam earns US$2.3 billion from vegetable, fruit exports
Earnings from vegetable and fruit exports in the first seven months of the year are estimated at US$2.3 billion, a year-on-year surge of 12.6%, according to the Ministry of Agriculture and Rural Development’s Processing and Market Development Authority (AgroTrade).
- Dragon fruits dominate Vietnam’s fruit exports
- Vietnam’s fruit, vegetables export sees impressive growth
- Air freight costs stymie fruit exports
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China remained the biggest export market of Vietnam in the first half of 2018, accounting for 74% of the total vegetable and fruit exports. Vietnam’s vegetable and fruit exports to China reached US$1.47 billion, up 18% year on year.
Meanwhile, strong export growth was recorded in Thailand (37.6%), the Republic of Korea (16.7%), and the US (15.9%).
AgroTrade said that export of dragon fruits have faced difficulties as China is expanding cultivating areas for this kind of fruit.
Meanwhile, the shipment of other fruits and vegetables is forecast to face challenges in the remaining months of this year due to impacts of the rainy season, and the US-China trade war.
Furthermore, China is seeking new export markets, and promoting domestic consumption, thus reducing demand for imports.
However, Vietnamese vegetables and fruits will have new destinations thanks to many free trade agreements which help unlock potential markets for Vietnamese products. Businesses should enhance production in value chain to ensure good quality for exports.
During the January-July period, Vietnam splashed out US$892 million on purchasing vegetables and fruits from foreign countries, an increase of 4.4% from the same time last year.
