China’s appetite for durian has increased global demand for the uniquely pungent tropical fruit by 400 per cent, with Southeast Asian exporters looking to a regional trade deal for help to sell even more, according to HSBC.
The Chinese market makes up 91 per cent of the world’s demand for durian, with China having imported US$6 billion in the past two years, HSBC said in a report on Monday.
And around 90 per cent of the durians shipped worldwide originate in the 10-member Association of Southeast Asian Nations (Asean) bloc, HSBC added, up from 60 per cent seven years ago.
HSBC calculated the 400 per cent figure based on data collected in the first quarter of this year compared to the same period in 2022.
The 15-nation Regional Comprehensive Economic Partnership (RCEP) free-trade deal, which involves the ASEAN bloc plus China, Japan, South Korea, Australia and New Zealand, has accelerated the durian trade with lowers taxes and streamlined customs procedures since it took effect in most countries at the start of last year.
Source: scmp.com
