According to data from the Vietnam Fruit and Vegetable Association (VINAFRUIT), Vietnam's five main export items to the Korean market are bananas, sesame seeds, mangoes, chili peppers and dragon fruit. In the first 6 months of 2024, Korea spent 164 million USD, an increase of 55% over the same period last year and surpassed the US to become the second largest buyer of Vietnam. Notably, recently, Koreans have spent more money than at the beginning of the year to buy Vietnamese fruits and vegetables. Specifically, compared to the same period in 2023, the first quarter of 2024 increased by 18.5%, and by the second quarter of 2024, it increased by 88%.
Bananas are Vietnam's main export item in the Korean market.
In the first half of 2024, South Korea imported the most bananas from Vietnam with a value of up to 35 million USD, nearly double that of the same period last year. Leading Vietnamese banana exporters to this market, such as Bau Duc's company or Huy Long An, said they really like to sell to the South Korean market because prices are stable throughout the year, making it convenient to balance and plan long-term production.
Notably, right after bananas was sesame seeds with a value of nearly 30 million USD, up 62% over the same period last year. Mangoes ranked third with a turnover of nearly 24 million USD, up 72% over the same period last year. Mango exports in the second quarter slowed down compared to the first quarter because it was not the peak harvest season for this fruit – usually in the first and fourth quarters.
Chili exports to the Korean market reached 11 million USD, ranking 4th, higher than dragon fruit reaching 10 million USD. The “king of fruits” – durian also achieved a growth rate of 62% but the turnover was still quite modest at only 1.4 million USD.
In addition, many items have high growth rates such as: almonds increased 243 times to reach a turnover of 1.8 million USD, ginger increased 517% to reach a turnover of 1.2 million USD, perilla seeds increased 352% to reach 1.2 million USD, shiitake mushrooms increased 125% to reach 2.3 million USD...
Mr. Dang Phuc Nguyen, General Secretary of VINAFRUIT, analyzed: There are 3 reasons why Korea increased its import of fruits and vegetables from Vietnam. First, good quality, meeting their food safety requirements; second, competitive prices; and third, convenient transportation, low cost.
In general, the Red Sea tension caused a sharp decline in goods originating from South American countries, such as Chile's 11% decrease and Peru's 20% decrease; in contrast, South Korea had to increase imports from ASEAN countries.
According to Korean customs data, Thailand's fruit and vegetable exports to this country grew the most in the ASEAN region with 42% to 147 million USD, Vietnam ranked second with 34% to 208 million USD and the Philippines increased by 21% to 209 million USD. The 5 largest sources of fruit and vegetable supplies to the Korean market in the first 6 months of 2024 were China, the US, the Philippines, Vietnam and Thailand, respectively.
Thanhnien.vn
Source: https://thanhnien.vn/xu-so-kim-chi-me-ot-viet-hon-ca-thanh-long-sau-rieng-185240813151917091.htm
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