The sudden braking of the fruit and vegetable industry.

According to a quick report from the Vietnam Fruit and Vegetable Association (Vinafruit), fruit and vegetable exports in February were estimated at nearly $288 million, a decrease of 41.5% compared to January and an 11% decrease compared to the same period in 2023. This is quite surprising, considering that in January 2024, fruit and vegetable exports reached $490 million, an increase of over 90% compared to the same period last year.

Explaining the reasons for this decline, Mr. Dang Phuc Nguyen, General Secretary of Vinafruit, said: "February this year coincided with the Lunar New Year in both Vietnam and China. The extended holiday period in the middle of the month significantly impacted Vietnam's export activities. Last year, the Lunar New Year fell in January, so the export value of fruits and vegetables in February was not significantly affected."

Despite a decline in February, overall fruit and vegetable exports for the first two months showed impressive growth. In total, exports reached nearly $778 million, a 37.7% increase compared to the same period last year. It is predicted that the market will return to normal in March, without the significant fluctuations seen in the past two months.

Fruit and vegetable exports unexpectedly dropped sharply in February 2024.

In fact, there have already been export shipments in the first days of the Lunar New Year 2024. These include the successful export of star apples from the Mekong Delta to the US; and dragon fruit to China...

Most recently, Hoang Phat Fruit Co., Ltd. exported seedless mangoes to the South Korean market. Ms. Nguyen Nam Phuong Thao, Deputy Director of Hoang Phat Fruit Co., Ltd., said that the volume of orders and profits from fresh fruit exports in January 2024 increased by over 30%, reaching more than 4,000 tons of various types.

The most exported fruits are mangoes and dragon fruit. Besides the traditional market of China, Hoang Phat Fruit's fruits have also reached markets the company has expanded into in recent years, such as South Korea, Japan, Australia, and New Zealand.

According to Ms. Thao, the Australian and New Zealand markets are showing greater resilience, and the economies of their citizens are gradually recovering, so these two markets will experience significant growth. "The market will be more positive as the economy recovers and people spend more. This year, we expect the market to perform better," Ms. Thao stated.

Meanwhile, Mr. Nguyen Dinh Tung, General Director of Vina T&T Company, said that the company is exporting An Giang mangoes to the US and Australia for the first time, and also exporting durian to China.

"The market is very good and favorable; customers from traditional markets are still placing full orders. We are also preparing fruit for export at the end of this month. Everything is going very smoothly," Mr. Tung said.

Vina T&T Company's main markets are the US, Australia, Europe, and China, with key fruits including durian, dragon fruit, mango, rambutan, longan, pomelo, and coconut, resulting in a 40% growth rate last year. Mr. Tung is also optimistic that export growth will remain in double digits in 2024 due to favorable market signals.

Regarding the prospects for fruit and vegetable exports in 2024, Mr. Dang Phuc Nguyen, General Secretary of the Vietnam Fruit and Vegetable Association, believes that despite the forecast of continued difficulties in the global and domestic economies, the fruit and vegetable sector has significant potential to achieve an export turnover of 7 billion USD. Key factors driving the fruit and vegetable sector towards achieving this target in 2024 include: High demand remains in China, the largest export market for fruits and vegetables. Vietnam is currently negotiating with China to allow the official export of more products to this market. In addition, exports to major markets such as the US, EU, Australia, and South Korea will continue to be boosted.

Source