Initial data from the General Department of Vietnam Customs reveals a significant increase in fruit and vegetable exports, with a reported $1.25 billion in revenue for the first quarter. This marks a 27% year-on-year growth and is the first instance of surpassing the $1 billion milestone in this period. February saw a revenue of $325.8 million, a 33.6% decrease from January but a 1.4% increase from 2023. March's exports reached $433 million, nearly 4% higher than the previous year.
Key markets for Vietnamese fruits and vegetables include China, the Republic of Korea, the US, Thailand, and Japan. Notably, exports to Thailand surged by 125.9% to $28.6 million by the end of February. The first two months of the year saw exports to China climb to $501.4 million, a 57.2% increase from 2023. Other markets such as the RoK and Australia also experienced significant growth.
The Vietnam Fruit & Vegetables Association attributes the first quarter's export success to the off-season durian exports, with Thailand emerging as the fourth-largest importer. Despite the Red Sea crisis impacting shipments to Europe and the US, experts believe this could benefit exports to China and regional markets, particularly for durian, coconut, dragon fruit, jackfruit, banana, and mango.
Source: einnews.com