Fruit and vegetable exports to South Korea and Thailand increase dramatically

A quick report from the Vietnam Fruit and Vegetable Association (Vinafruit) said that the export turnover of fruits and vegetables in March was estimated at nearly 470 million USD, an increase of 44.3% over the previous month and an increase of 12.4% over the same period in 2023. In the first quarter of 2024, the export turnover of fruits and vegetables reached nearly 1.3 billion USD, an increase of 30.8% over the same period in 2023. This is the first time in history that the export turnover of fruits and vegetables reached over 1 billion USD in the first quarter.

Notably, the main export markets of Vietnamese fruits and vegetables such as China, South Korea, the US, Thailand, and Japan all recorded high growth rates. Leading in export value is the Chinese market, reaching 759.4 million USD, up 32.4% over the same period in 2023. Currently, the Chinese market accounts for 59.1% of the total export value of the entire fruit and vegetable industry.

Next, the Korean market reached 74.6 million USD, up 59.3%; the US reached 67.7 million USD, up 33.9%. In particular, the Thai market reached 47.6 million USD, up 112%.

Xuất khẩu rau quả sang Hàn Quốc, Thái Lan tăng đột biến

Durian exports increased sharply, causing fruit and vegetable export turnover in the first quarter to reach over 1 billion USD.

Regarding the results achieved, according to Mr. Dang Phuc Nguyen - General Secretary of the Vietnam Fruit and Vegetable Association, it was due to the contribution of durian and off-season dragon fruit. Along with that, in the Korean market, geopolitical conflicts and the influence of the Red Sea have disrupted the export of fruits from South America and the Middle East to Korea. High freight rates and long transportation times have caused a shortage of fruits and vegetables in Korea. Therefore, Korea has increased the import of fruits and vegetables from Vietnam to make up for this shortage.

“Transportation costs have doubled, and shipping time has increased to 40 days instead of 25 days as before, making it difficult to import fruits and vegetables from South America and the Middle East. This is an opportunity for Vietnamese businesses to increase exports to Korea,” said Mr. Dang Phuc Nguyen.

Regarding the prospects for fruit and vegetable exports in 2024, Mr. Dang Phuc Nguyen - General Secretary of the Vietnam Fruit and Vegetable Association said that although the world and domestic economic situation is forecast to face many difficulties, the fruit and vegetable industry has a lot of room to aim for an export turnover of 7 billion USD. The main factors that can promote the fruit and vegetable industry to achieve the set target in 2024 include: Demand in the largest fruit and vegetable export market, China, remains high. Currently, Vietnam is still negotiating with China to have more products officially exported to this market. In addition, continue to promote exports to major markets such as the US, EU, Australia, Korea, etc.

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