Vietnam’s fruit and vegetable sector exemplifies economic resilience and strategic transformation amidst challenges, with fruit exports playing a pivotal role. January figures from the Import-Export Department at the Ministry of Industry and Trade illuminate this progress, showing exports soared to $510 million—a 24.9% leap from December and a staggering 112.1% year-on-year increase.
The year 2023 witnessed unparalleled growth in specific fruit exports: durians skyrocketed by 430.1% to $2.2 billion; dragon fruit, bananas, jackfruits, and mangoes also contributed significantly to the sector’s robust performance.
This upward trajectory is supported by the surging demand from China, complemented by Vietnam’s initiatives to diversify the range of fruits eligible for export. These development are part of a broader strategy to penetrate markets across the US, EU, Australia, and the Republic of Korea.
Forecasts by the department indicate that exports could ascend to $6.5 billion this year, surpassing the previous record of nearly $5.6 billion in 2023. Minister of Agriculture and Rural Development, Lê Minh Hoan, underscores the necessity for a shift towards market-responsive planning. He asserts Vietnam’s role as a global market participant, necessitating a dynamic approach to production and planning, attuned to market demands and the competitive landscape.
The sector’s global footprint, currently at a modest 2-3% of worldwide export revenue, harbors vast expansion potential. Đặng Phúc Nguyên, General Secretary of the Vietnam Vegetable and Fruit Association, anticipates a 15-20% growth rate in 2024, potentially elevating export values beyond $6 billion.
Despite its growth, Vietnam’s market share in the global fruit and vegetable industry remains small, especially in the EU—the largest import market globally. The EU-Vietnam Free Trade Agreement (EVFTA) is perceived as a catalyst to augment Vietnam’s exports to this high-value market, contingent upon adherence to stringent quality standards like GlobalGap.
Nguyễn Hồng Lam, Chairman of the Vietnam Association of Circular Agriculture, calls for the cultivation of agricultural product value chains to fortify quality and ensure price stability. This strategic focus is deemed essential for the sustained global success of Vietnam’s agricultural sector.
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