Fruit and vegetable exports to EU market likely to rise by 15% this year
Vietnam’s fruit and vegetable exports to the EU market are likely to enjoy a 15% increase this year thanks to maximising benefits from the EU-Vietnam Free Trade Agreement (EVFTA), according to the Ministry of Industry and Trade.
The enforcement of the trade deal has helped local farm produce enjoy several competitive advantages compared to similar products from regional peers such as Thailand and China.
Most notably, Vietnamese fruit and vegetable exports to the EU market recorded positive growth, despite being heavily affected by the complicated developments relating to the COVID-19 pandemic.
According to statistics compiled by the General Department of Vietnam Customs, Vietnamese fruit and vegetable exports to the fastidious market last year saw a surge of 7.6% to reach US$193.7 million compared to the same period from 2020.
During the past 11 months of 2021, the Netherlands, France, Germany, Italy, and Belgium were the largest consumers of local products, while other key markets such as the Netherlands, Italy, and Spain experienced a downward trajectory.
Most notably, local businesses exerted great efforts to fully tap into niche markets within the EU, including Finland, Poland, Denmark, Czech Republic, Ireland, and Hungary.
Throughout the reviewed period, the export structure of Vietnamese fruit and vegetables to the demanding market remained diverse with up to 150 various products, including passion fruit, coconut, dragon fruit, custard apple, litchis, ginger, mangosteen, watermelon, guava, and tamarind.
With the EU’s import volume of fruit and vegetables hitting roughly US$100 billion per year, coupled with the advantages brought about by the EVFTA, Vietnamese fruit and vegetable export turnover to the choosy market is set to continue to increase by between 10% and 15% this year and gross approximately US$200 million, according to experts.
Experts also highlighted the bright prospects ahead for fruit and vegetable exports thanks to their improved product quality, favourable customs clearance procedures, and the success of COVID-19 containment efforts.
Despite these positives, experts underlined the necessity of developing post-harvest preservation and processing technologies that are capable of helping fruit and vegetable exports to make further inroads into the EU market and utilize tariff preference under the EVFTA.
