Fruit and vegetable exports continue to boom

Illustrative image (Source: Internet)

Exports up 45% year-on-year as at July 15, with annual value set to exceed $3 billion for first time.

As at July 15, the export value of Vietnamese fruit and vegetables reached $1.85 billion year-to-date, an increase of 45 per cent year-on-year, according to a report from the General Department of Vietnam Customs.

In the first half of July, exports of fruit and vegetables stood at $180 million, up $49 million and 37.7 per cent compared to the second half of June.

Given such figures, fruit and vegetable exports for the year as a whole are forecast to exceed the $3-billion mark for the first time.

Exports of fruit and vegetables in the first half reached $1.67 billion, an increase of 44.4 per cent year-on-year, according to Vietnam Customs and nearly equal to the figure in all of 2015, of $1.84 million.

China, the US, Japan, and South Korea were Vietnam’s largest markets, accounting for 85 per cent of the total. China ranked first in turnover, with $1.25 billion, accounting for 74.9 per cent of the total and up 55.4 per cent against the first half of 2016.

Exports saw strong growth in traditional markets such as Japan, up 56 per cent, China, up 50 per cent, the US, up 23 per cent, and South Korea, up 15 per cent.

The report also noted that certain export markets, though not large, increased strongly year-on-year, such as Hong Kong, which increased 102 per cent, UAE 81 per cent, Laos 78.6 per cent, and Russia 54.6 per cent.

Exports to Cambodia, Indonesia, and the UK, however, plummeted, by 81.8 per cent, 53 per cent, and 42 per cent in value year-on-year.

Dragon fruit ranked top among fruit, accounting for more than 50 per cent of total export value, with south-central Binh Thuan province being the largest source.

Fruit and vegetables remain among the fastest-growing agricultural commodities in terms of export value, with most others (excluding rubber), seeing growth of less than 20 per cent.