The land of kimchi loves Vietnamese chili more than dragon fruit and durian.

According to data from the Vietnam Fruit and Vegetable Association (VINAFRUIT), the five main export items from Vietnam to the South Korean market are bananas, sesame seeds, mangoes, chili peppers, and dragon fruit. In the first six months of 2024, South Korea spent $164 million, a 55% increase compared to the same period last year, surpassing the US to become Vietnam's second largest buyer. Notably, South Koreans have been spending even more on Vietnamese fruits and vegetables recently. Specifically, compared to the same period in 2023, the first quarter of 2024 saw an 18.5% increase, and the second quarter of 2024 saw a further 88% increase.

Bananas are a major export item for Vietnam in the South Korean market.

In the first half of 2024, South Korea's largest import from Vietnam was bananas, valued at $35 million, nearly double the amount imported during the same period the previous year. Leading Vietnamese banana exporters to this market, such as companies owned by Mr. Duc and Huy Long An, stated that they prefer selling to the South Korean market because of stable prices throughout the year, making it convenient for balancing and planning long-term production.

Notably, following bananas, sesame seeds ranked second with a value of nearly $30 million, a 62% increase compared to the same period last year. Mangoes came in third with a turnover of nearly $24 million, a 72% increase compared to the same period last year. Mango exports slowed down in the second quarter compared to the first quarter because it was not the peak harvest season for this fruit – which usually falls in the first and fourth quarters.

Chili pepper exports to the South Korean market reached $11 million, ranking fourth, higher than dragon fruit at $10 million. Durian, the "king of fruits," also achieved a growth rate of 62%, but its export value remained relatively modest at only $1.4 million.

In addition, many items experienced high growth rates, such as: almonds, which increased 243 times to reach a turnover of 1.8 million USD; ginger, which increased 517% to reach a turnover of 1.2 million USD; perilla seeds, which increased 352% to reach 1.2 million USD; and shiitake mushrooms, which increased 125% to reach 2.3 million USD…

Mr. Dang Phuc Nguyen, General Secretary of VINAFRUIT, analyzed: There are three reasons why South Korea is increasing its imports of fruits and vegetables from Vietnam. Firstly, the quality is good and meets their food safety requirements; secondly, the prices are competitive; and thirdly, transportation is convenient and low-cost.

In the overall context, tensions in the Red Sea have led to a sharp decline in goods originating from South American countries, such as Chile (down 11%) and Peru (down 20%); conversely, South Korea has had to increase imports from ASEAN countries.

According to South Korean customs data, Thailand's fruit and vegetable exports to South Korea saw the strongest growth in the ASEAN region, increasing by 42% to reach US$147 million. Vietnam ranked second with a 34% increase to US$208 million, and the Philippines saw a 21% increase to reach US$209 million. The top five largest suppliers of fruits and vegetables to the South Korean market in the first six months of 2024 were China, the United States, the Philippines, Vietnam, and Thailand, in that order.

Thanhnien.vn

Source: https://thanhnien.vn/xu-so-kim-chi-me-ot-viet-hon-ca-thanh-long-sau-rieng-185240813151917091.htm