Vietnamese grapefruit officially available on Lotte Mart shelves in Korea

Lotte Mart representative highly appreciates the potential of Vietnamese grapefruit thanks to its sweet taste, high vitamin C content and suitability to the taste of Korean consumers.

This event not only demonstrates the superior quality of Vietnamese agricultural products but also affirms the tireless efforts of businesses and agencies of the two countries in promoting bilateral economic cooperation between Vietnam and Korea.

By the end of 2024, South Korea will remain Vietnam's third largest trading partner, after China and the United States. Bilateral trade turnover in 2024 will reach about 82 billion USD, up 7.4% over the same period.

In particular, Vietnam's key products exported to the Korean market still grew well despite the negative impacts of the world economy, specifically: coffee (141 million USD, up 22%); seafood (810 million, up 2%); especially fresh fruits and vegetables (reaching 319 million USD, up 40%).

According to data from the Korea Rural Economic Institute (KREI), South Korea's fresh fruit imports soared to a record $1.45 billion in 2024, marking a 20.1% increase from the previous year. The growth reflects the Korean market's growing reliance on imported fruit amid difficulties in domestic production due to adverse weather conditions and climate change. Experts predict that the trend of fruit imports in Korea will continue to increase sharply. KREI estimates that total fruit imports, including fresh, dried and frozen varieties, will increase 6.8% to 817,000 tons in 2025, reaching 865,000 tons by 2034, reflecting an average annual growth rate of 0.6%.

South Korea is Vietnam's 5th largest fruit export market.

Currently, South Korea is the fifth largest fruit export market of Vietnam, after China, the US, the EU and Japan. With Vietnam's annual quality fruit products reaching more than 12 million tons (according to the Ministry of Agriculture and Environment ), of which grapefruit has a yield of about 1.2 million tons, the potential for expanding exports to South Korea is huge. Korean consumers increasingly prefer nutritious tropical fruits, creating opportunities for Vietnamese grapefruit to compete with products from the US (oranges, apples) and Thailand (durian, rambutan). The average price of grapefruit exported to South Korea is 2.4 USD/kg, 30% higher than the price in China (1.8 USD/kg), showing the significant added value that the Korean market brings.

According to the Plant Protection Department (Ministry of Agriculture and Environment), since 2018, Vietnam has officially initiated the negotiation process to open the Korean market for grapefruit. However, this process has only really been accelerated after the COVID-19 pandemic. After two years of active exchanges, pest risk analysis and many rounds of technical negotiations, by April 2024, the Plant Protection Department of Vietnam and the Animal and Plant Quarantine Service of Korea reached an agreement on technical import conditions.

From August 2024, Vietnamese grapefruit will be officially allowed to be imported into Korea with the condition that each shipment is inspected before customs clearance. By September 2024, Hoang Huy Company had successfully exported the first batch of grapefruit with an output of 5 tons, opening the strategy of developing this product to become a staple in the Korean market. In 2025, Hoang Huy Company aims to export 500 tons of grapefruit, with an estimated total value of up to 1.2 million USD (equivalent to about 30 billion VND).

Vietnamese grapefruit is highly appreciated

Lotte Mart representatives highly appreciate the potential of Vietnamese grapefruit thanks to its sweet taste, high vitamin C content and suitability to Korean consumers' taste. After the first batch is distributed at Lotte Mart Jamsil branch, the group plans to expand distribution to other branches if it receives positive feedback from the market.

For Vietnamese enterprises, this event is a driving force to promote investment in processing technology, improve product quality, build brands and enhance competitiveness in the international market. The Trade Office and the Vietnamese Embassy in Korea pledged to continue supporting enterprises in accessing market information, connecting with partners, completing export procedures and diversifying products, opening a new promising chapter for the Vietnamese agricultural sector.

Phan Trang

Source: https://baochinhphu.vn/trai-buoi-viet-nam-chinh-thuc-co-mat-tren-ke-hang-lotte-mart-han-quoc-102250410190530297.htm