Besides favoring rice, cashews, and coffee, China spent nearly $3 billion importing fruits and vegetables from Vietnam in the first nine months, bringing the total value of Vietnamese agricultural imports to a record $6.2 billion.
According to a report from the Ministry of Agriculture and Rural Development , in the first nine months of the year, the total export value of the entire agricultural sector is estimated at 38.48 billion USD, a decrease of 5.1% compared to the same period last year.
China, the US, and Japan are the three largest export markets for Vietnamese agricultural, forestry, and aquatic products. While exports to Japan and the US both decreased by 7-22% compared to the first nine months of last year, only the Chinese market bucked the trend with positive growth. By the end of September, exports of agricultural, forestry, and aquatic products to this market reached US$8.71 billion, an increase of 16.7% compared to the same period last year. Of this, agricultural exports were the star performer, reaching over US$6.2 billion, accounting for 70% of total agricultural, forestry, and aquatic product exports – the highest ever.
Specifically for fruits and vegetables, Vietnam exported $2.75 billion worth to this country in the first nine months – a record high. Compared to the same period last year, the export value of this item increased by 160%. Durian accounted for a large proportion, 55%, of the total export value of fruits and vegetables, reaching $1.5 billion.
Durian fruit in an orchard in Long An . Photo: Hoang Nam
After fruits and vegetables, rice is the second-largest commodity in China's spending, with nearly half a billion USD, an increase of over 55% compared to the same period in 2022.
Similarly, cashew exports to this market reached nearly $434 million, an increase of over 42%; coffee exports exceeded $101 million, an increase of 11.4%; and animal feed and raw materials reached nearly $436 million, an increase of 30%.
Mr. Dang Phuc Nguyen, Secretary General of the Vietnam Fruit and Vegetable Association, stated that China is leading in terms of market share for Vietnamese goods. Specifically, for fruits and vegetables, last year China's share of Vietnamese fruit and vegetable imports accounted for only 43% of the total value, but in the first nine months of this year, it increased by 22% to 65%. This figure far surpasses the top five – the US, South Korea, Japan, and the Netherlands – by many times. This is the most impressive figure in decades.
Explaining the reasons behind the strong growth of Vietnamese agricultural products in the Chinese market , Mr. Nguyen attributed it to the signing of numerous official export protocols for fruits and vegetables. In particular, durian, a product favored by Chinese consumers, has seen a dramatic increase in export volume, rising several dozen times and becoming a billion-dollar product.
Sharing the same view, Mr. Nguyen Dinh Tung - CEO of Vina T&T Import-Export Company, stated that China is a key market for Vietnam. It is a giant country with the largest consumer base in the world . Therefore, when exported through official channels, coupled with its favorable geographical location and fast delivery times, Vietnamese goods have boomed and established a strong position in this market.
According to Mr. Tung, Vietnamese durian exports to China could reach $2 billion this year. His company's durian containers are still passing through this market quite smoothly. "If we can meet the requirements of fast delivery, good quality, and competitive prices, Vietnamese goods have the opportunity to capture a large market share in this country of over a billion people," Mr. Tung said.
Besides the advantages, Mr. Tung believes that the fruit and vegetable industry still faces difficulties in this market as Vietnamese dragon fruit, pomelo, and longan are entering fierce competition with domestic products and exports from many other countries. Furthermore, many Vietnamese export products lack quality, with some shipments containing unripe fruit or insect infestations. In particular, many export products have incorrect growing area codes.
Therefore, Mr. Tung believes that if quality is not improved, Vietnamese goods could easily lose a lucrative market share in the billion-person market. Compared to competitors like Thailand, India, and the Philippines, Vietnam is a neighboring country with a border with China, making land and sea exports quite convenient and much cheaper. Therefore, if Vietnam knows how to take advantage of its strengths, scale, improve quality, and produce goods during peak consumption seasons in China such as the Mid-Autumn Festival, National Day, and Lunar New Year, Vietnamese fruits and vegetables will achieve great success in this market.
To further exploit the potential of the Chinese market, Mr. Nguyen suggested that Vietnamese businesses need to conduct more in-depth and comprehensive research on this market. Vietnamese authorities should coordinate with relevant Chinese agencies to continue opening up more official import channels for fruits and vegetables, while also diversifying export products and seeking larger partners.
In the fourth quarter, the Ministry of Agriculture and Rural Development predicts that agricultural exports will set many new records. During a meeting with Chinese customs officials earlier this year, Minister Le Minh Hoan identified China as a key market for Vietnam. With the upcoming official export of fresh Vietnamese coconuts to China, the value of agricultural exports is expected to continue to boom. Alongside this, exports of rice, cashews, and other agricultural products to this market are also expected to remain favorable as China's peak consumption season approaches.
Thi Ha
Vnexpress.net
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