The export price of Vietnamese bananas is slightly lower than the previous year, with FOB prices sitting at 8USD/box (13kg net). Vietnamese growers expect the price will rise soon, as the global banana importers always have a higher demand starting in September, a Vietnamese banana grower explains.
Mr .Nguyen Huu Thien is the general manager of a Vietnamese banana exporter Hand & Hand. He acknowledges that more and more Chinese and South Korean companies are sourcing Cavendish bananas from Vietnam. Besides a free tax advantage, the short shipment time better guarantees the products’ freshness. “One of our Chinese customers told us that the quality and freshness of Vietnam's bananas can be better controlled compared to other regions, due to shorter distance.” Said Mr. Nguyen, “Besides China, the export volume to South Korea is also increasing rapidly due to the lower import duty (15%) compared with the other banana exporter, the Philippines (30%). Under the Free Trade Agreement between the two countries, we expect the tax will be reduced to 0% by 2024.” He added.
“We take good care of our products from the farming end. After picking, most of the time we pack and load the products right away. In this case, we can guarantee 5 weeks of product freshness after loading into the container. Besides satisfying customers with good quality, product packaging is also very important. Depending on clients’ requests, we often supply products in PE foam pad, plastic vacuum bag and carton boxes with 13kg net weights.”
“Although our company is still new, we've already made good connections with some big Chinese companies for supplying our bananas.” During the recent Asia Fruit Logistica exhibition, Hand & Hand received a good number of quality visitors, we are very excited to see that more and more overseas customers are shifting their attention to the Vietnamese banana industry.” Mr. Nguyen concluded.
Nguyen Huu Thien
Hand & Hand Co., Limited
Mobile: +84 903 81 66 82, +84 988 374 925