HANOI, Vietnam, 28th March, 2024 (WAM) -- With Vietnamese fruit and vegetable exports crossing US$1 billion in value in the first quarter of this year, experts have expressed optimism about further growth of exports from this sector, according to a Vietnam News Agecny (VNA) report on Thursday.
As per the figures of the General Department of Vietnam Customs, Vietnam earned US$325.8 million from exporting fruits and vegetables in February, down 33.6 percent from January, but up 1.4 percent compared to the same period of 2023.
The figure hit US$433 million in March, a rise of nearly 4 percent year-on-year, pushing the total export revenue of the products in the first three months of 2024 to US$1.25 billion, up 27 percent year-on-year. This is the first time the fruit and vegetable export value exceeds US$1 billion right in the first quarter, signalling a strong growth of the sector in the future.
Major export markets of Vietnamese fruits and vegetables include China, the Republic of Korea (RoK), the US, Thailand, and Japan. Particularly, a surge of 125.9 percent was seen in shipments to Thailand as of the end of February to US$28.6 million.
Meanwhile, the Import-Export Department under the Ministry of Industry and Trade reported that the export of Vietnamese fruits and vegetables to China in the first two months of this year reached US$501.4 million, a rise of 57.2 percent over the same period of 2023.
Strong growth was also seen in many other markets, including the RoK (52.4 percent), and Australia (36.2 percent).
The Vietnam Fruit & Vegetables Association (VinaFruit) said increased production of off-season durians contributed to the soaring fruit and vegetable export in the first quarter of this year. Particularly, the surge in Thailand’s consumption of Vietnamese durians made the country the fourth largest importer of Vietnamese fruits and vegetables.
Experts predicted that although the Red Sea crisis has greatly affected Vietnam’s fruit and vegetable shipments to Europe and the US, but may push those to China and regional countries, especially of durian, coconut, dragon fruit, jackfruits, banana, and mango.
This year, Vietnam expects US$6.2-6.5 billion in fruit and vegetable export turnover.