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Vietnam's fruit exports reach $7.15 billion in 2024, driven by durian boom

Vietnamese exporters have leveraged China's demand for durian, alongside expanding exports of coconuts, longans, pomelos, and mangoes. Vina T&T Group, led by CEO Nguyen Dinh Tung, exports approximately 320 tons of durian and nearly 500 tons of coconut monthly, with 3-4 containers of longan and 7-9 containers of dragon fruit shipped weekly.

In 2024, Vina T&T recorded approximately VND 2 trillion ($78 million) in revenue, marking a 30% increase from the previous year. According to the General Department of Customs, Vietnam's fruit and vegetable exports, after peaking at $3.81 billion in 2018, stagnated and declined to $3.26 billion in 2020 and $3.36 billion in 2022. However, the sector rebounded in 2023, reaching $5.7 billion and further increasing to $7.15 billion in 2024.

Nguyen Thanh Binh, Chairman of the Vietnam Fruit and Vegetable Association, noted that Vietnam's industry now exports to over 60 markets, with products like mangoes, bananas, and durian becoming the second-largest fruit imports in China. Vietnamese fruit exports have climbed in China and grown by over 30% in the U.S. while surging more than 80% in Thailand.

This growth is attributed to Vietnam's efforts to secure official export agreements. Prior to 2018, much of the trade relied on unofficial channels. As major markets imposed stricter import standards, Vietnam faced disruptions. Authorities have since worked to gain official export access for key products, stabilizing domestic prices and reducing market crash risks.

Durian, previously a struggling commodity, saw a transformation after Vietnam secured official export approval in China in mid-2022. In 2024, durian exports generated nearly $3.3 billion, accounting for almost 50% of the total fruit and vegetable export revenue. Durian prices have remained high, benefiting farmers significantly.

Vietnam's Ministry of Agriculture and Rural Development (MARD) initially set a target of $5 billion in exports by 2025 and $6.5 billion by 2030, but these projections were exceeded in 2024. Exporters now aim for $8 billion in 2025 and $10 billion in the near future.

Nguyen Khac Tien, Chairman of Ameii Vietnam JSC, views 2023 as the beginning of a larger expansion for Vietnamese fruit exports. He stresses the need for improved production management to maintain momentum. Currently, Vietnam cultivates around 1.2 million hectares of fruit crops, producing over 12 million tons annually.

Despite success in fresh fruit exports, processed products account for less than 14% of total export revenue. As global demand for convenient and health-conscious food options grows, processed fruit products present a lucrative opportunity. Expanding into these segments could sustain Vietnam's export growth and strengthen its global position.

Source: Vietnam.net

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