| Vietnam ranks 3rd in supplying mangoes to Korea Mango exports: How to increase market share? |
The Import-Export Department ( Ministry of Industry and Trade ) cited statistics from the Korea International Trade Association (KITA) saying that the import of mangoes (HS 08045020) into Korea in the first 3 months of 2023 reached 8 thousand tons, worth 36.4 million USD, down 18% in volume and 19% in value compared to the same period in 2022. The average imported mango price in the first 3 months of 2023 reached 4,533.8 USD/ton, down 1.2% compared to the same period in 2022.
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| Vietnam is the third largest mango supplier to Korea. |
Peru was the largest mango supplier to Korea in the first 3 months of 2023, with mango imports from Peru accounting for 63.4% of the total mango imports into Korea, reaching 5.1 thousand tons, worth 25.7 million USD, down 14.8% in volume and 18.1% in value over the same period in 2022; followed by the Thai market with 2.3 thousand tons, worth 7.8 million USD, down 22% in volume and 20.4% in value, accounting for 28.1%.
Vietnam is the third largest mango supplier to Korea, however, imports from Vietnam only account for 5.8% of total mango imports.
The large market space is an opportunity for mango exporting enterprises to boost exports to the Korean market in the coming time; besides, effectively utilizing the free trade agreements that Vietnam has signed with Korea also brings positive results.
However, to boost mango exports to Korea, exporting enterprises need to pay attention to the fact that Korean consumers prioritize the safety of agricultural products and food, followed by quality, taste, appearance and price. Korea is considered the market that applies the most stringent regulations in Asia on conditions for imported agricultural products.
According to the Import-Export Department, the export value of Vietnam's fruits and vegetables in March 2023 reached 418 million USD, an increase of 22% compared to March 2022. In the first 3 months of 2023, the export value of fruits and vegetables reached 982 million USD, an increase of 16.2% over the same period in 2022.
Fruit and vegetable exports grew positively in the first 3 months of 2023 thanks to a sharp increase in export value to the Chinese market. The export value to the Chinese market reached 576.4 million USD, an increase of 27.4% over the same period in 2022. China's high demand is due to the cold season in February and March, so the fruit growing area has low yield, not enough to meet domestic supply.
The reopening after many years of applying the Zero Covid policy in China will promote the positive growth of Vietnam's fruit and vegetable industry in this market in 2023. However, China is gradually tightening informal imports and shifting to official channels, requiring increasingly high quality of imported fruits and vegetables. To export to this market, in addition to improving the quality of goods, businesses and gardeners must comply with and strictly control the codes of growing areas and packaging facilities.
While exports to the Chinese market increased sharply, fruit and vegetable exports to the United States decreased sharply, due to the impact of inflation leading to weak purchasing power in this market. Notably, fruit and vegetable exports to other markets such as Korea, Japan, the Netherlands, etc. grew positively in the first 3 months of 2023.
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