Why do off-season durian prices in the Mekong Delta provinces continue to increase?

Off-season durian prices increase sharply

In the domestic market, durian prices today, November 8, remained high for high-quality export goods due to scarce supply. Off-season durian prices remained high for high-quality export goods and reached over VND190,000/kg when entering the off-season harvest season in the Mekong Delta provinces.

On November 8, durian prices in Tien Giang province continued to increase compared to previous days. In Cai Lay area, many agricultural warehouses purchased Monthong (Thai) durian type A at prices ranging from 190,000 - 195,000 VND/kg (2.7 boxes, from 1.9 - 5.2 kg), type B at 170,000 - 175,000 VND/kg (2.5 boxes, from 1.7 - 5.6 kg). Ri 6 durian type A was priced at 130,000 - 140,000 VND/kg (2.7 boxes, from 1.9 - 5 kg), type B was priced at around 115,000 VND/kg (2.5 boxes, from 1.7 - 5.5 kg). According to records, in recent days, Thai durian prices have increased the most.

Normally, around April or May every year, farmers start to process the crop and the durian garden will be harvested from November onwards. At this time, durian has a high price, and farmers earn high profits.

Scarce supply, off-season durian prices continue to rise to 160,000 VND/kg

According to the Cooperatives in Cai Lay Town, Tien Giang Province, gardeners in the area are entering the beginning of the durian harvest season. Currently, traders are purchasing beautiful Ri 6 durian at the garden at a price of 135,000 - 140,000 VND/kg, and Thai durian at over 160,000 VND/kg.

In Cai Be district, Tien Giang province, following the general trend, durian prices have continued to increase in recent days. According to the People's Committee of Cai Be district, the entire district has over 9,000 hectares of durian, of which the area bearing fruit accounts for about 55% - 60%.

Currently, the price of Ri 6 durian in the area is about 137,000 VND/kg, Thai durian is about 165,000 VND/kg. Durian is in high demand because this year's gardeners have had a bad harvest. Many durian gardens have lost flowers and fruits due to the weather. Due to low supply, the price of durian is likely to continue to increase.

Currently, durian season in Dak Lak has ended, only a few of the large gardens in Lam Dong area remain.

Along with that, the amount of off-season durian in the Mekong Delta provinces is not much, causing the supply to be limited compared to demand. This is also the reason why durian prices are higher than during the harvest season.

The Vietnam Fruit and Vegetable Association also predicts that durian prices will continue to remain high, even during the harvest season in the Mekong Delta provinces.

The reason is that Thailand's durian season is over, so Vietnamese durian will be the only one in China's market at the end of this year, when Chinese consumers increase their purchases as gifts for holidays and Tet.

Many markets increase imports of Vietnamese durian

According to the General Department of Customs, in the first 9 months of 2024, durian exports reached more than 2.8 billion USD, an increase of 63% over the same period in 2023, the highest level ever.

Among the 10 markets importing Vietnamese durian, many markets recorded strong growth. China took the lead with a turnover of 2.6 billion USD, accounting for 92% of total durian exports, up 65% over the same period in 2023. Thailand ranked second with 133 million USD, up 85% and Hong Kong (China) took third place with 23 million USD, up 17%.

Other markets such as Papua New Guinea, Taiwan (China), Japan, South Korea and Cambodia also increased from 22% to 16 times compared to last year, of which Papua New Guinea and Cambodia increased the most, 2.6 and 16 times respectively.

Durian exports have increased sharply, according to businesses, thanks to improved product quality, competitive prices and short shipping times to China. In addition, Thailand's durian output has decreased by 18% (affected by the El Niño phenomenon and a prolonged heat wave), causing importers from China and other countries to switch to supplies from Vietnam.

Mr. Dang Phuc Nguyen - General Secretary of the Vietnam Fruit and Vegetable Association - said that Thailand faced difficulties in the crop season due to lack of water, causing low output and pushing up prices by about 22%, while farmers' income only increased slightly by 0.3% due to high costs.

Mr. Dang Phuc Nguyen also said that durian is a fruit that brings surprising export results. Although the main durian season in the Central Highlands ends in October, Vietnam still has off-season products thanks to good crop spreading techniques by farmers. It is likely that this year's durian export turnover could reach 3.5 billion USD - a figure that few fruits can achieve.

Experts predict that by 2025, the Chinese durian market could reach 20 billion USD and the world market could reach 28.6 billion USD. The demand for durian in the Chinese market is huge, and all durian exporting countries in Southeast Asia combined are still not enough to meet the demand of this market. Meanwhile, compared to other countries in the region, Vietnamese durian exported to China has many competitive advantages in logistics and quality. Therefore, there is still a lot of room for increasing durian exports.

Source: https://congthuong.vn/vi-sao-gia-sau-rieng-trai-vu-tai-cac-tinh-dong-bang-song-cuu-long-tiep-tuc-tang-cao-357615.html