Vietnam achieved over US$164 million in fruit and vegetable exports to the Republic of Korea (RoK) in the first half of the year, marking a 55% increase from the previous year and positioning the RoK as the second-largest market for these exports after China. Key export items included bananas, generating US$35.4 million with a three-fold increase; mangoes at US$24 million, up by 72%; and sesame seeds nearing US$30 million, showing a 62% growth.
Additionally, exports of dragon fruit, watermelon, shiitake mushrooms, durian, and pineapple witnessed growth rates ranging from 40% to 217%. Notably, Vietnamese almond exports experienced a significant surge, with a 224-fold increase, totalling nearly US$2 million. The Korean Business Association in Vietnam (KOCHAM) credits the increase to a recovery in Korean consumer demand post-COVID-19 and the competitive pricing of Vietnamese fruits.
According to Dang Phuc Nguyen, general secretary of the Vietnam Fruit and Vegetable Association, the RoK's import turnover from Vietnam is expected to hit US$190 million during the seven-month period, with projections of a sharp increase towards the year's end, especially during holiday seasons. The potential for Vietnamese banana exports to the RoK is highlighted by the market's size, exceeding US$300 million annually.
Competition with regional counterparts like Thailand and the Philippines necessitates Vietnamese exporters to adhere to the RoK's strict food safety, hygiene, and packaging standards. Efforts to ensure product quality through direct collaborations between Korean supermarket chains, such as Lotte and Emart, and Vietnamese agricultural stakeholders are underway.
Source: vietnamnet.vn