The fruit and vegetable industry has plenty of room for export in the five largest markets

VCN - Vegetables and fruits are products with great potential for export, because import demand in the world market is always high. Although it is a key export product, the market share of Vietnamese vegetables and fruits still accounts for a small proportion in the world's five largest markets.
Businesses tap opportunities to maintain fruit, vegetable exports Businesses tap opportunities to maintain fruit, vegetable exports
Take advantage to increase fruit and vegetable exports to nearby markets Take advantage to increase fruit and vegetable exports to nearby markets
Lang Son: Flexible solutions to accelerate customs clearance of fresh fruit exports Lang Son: Flexible solutions to accelerate customs clearance of fresh fruit exports
Vietnam's fruit and vegetable industry needs to continue to strongly shift its product structure towards increasing processed products and reducing exports of fresh products.
Vietnam's fruit and vegetable industry needs to continue to strongly shift its product structure towards increasing processed products and reducing exports of fresh products.

Continue the upward momentum

According to the Import-Export Department (Ministry of Industry and Trade), it is estimated that in April 2024, Vietnam's fruit and vegetable exports reached US$520 million, an increase of 10.7 percent compared to March 2024 and an increase of 33.9 percent compared to the previous year. April 2023. In the first four months of 2024, fruit and vegetable exports are estimated to reach U1.8 billion, up 32.1 percent compared to the same period in 2023.

Regarding the market, the proportion of fruit and vegetable exports to Asia accounts for 82.4 percent of the total export value. Of which, fruits and vegetables are mainly exported to China, accounting for 71.8 percent of the total export value. The growth rate of fruit and vegetable products to the Chinese market reached a high level, contributing to promoting good growth of the fruit and vegetable industry in the first quarter of 2024, reaching US$759.4 million, an increase of 32.4 percent compared to the same period in 2023.

In addition, in the first quarter of 2024, fruit and vegetables were also exported to other regions such as Europe, America, Oceania and Africa, however, the export value to these regions only accounted for a small proportion. Therefore, there are still many opportunities for the fruit and vegetable industry to continue expanding its market in the time to come.

Notably, with an average import demand for fruits and vegetables of US$153 billion per year in the period 2019 - 2023, Europe is the largest fruit and vegetable import market in the world (according to data from the International Trade Center). However, the proportion of imports from Vietnam only accounts for 0.22 percent of Europe's total import value.

The Import-Export Department said that the EU is a market with large import demand for fruits and vegetables, but imports from Vietnam are still too low, so the opportunity to increase market share in the EU is huge.

However, this market also requires the world's most rigorous quality. “EU consumers pay attention to food hygiene and safety, standard products, and no pesticide residues before exporting to this market. Accordingly, if Vietnamese fruit and vegetable enterprises can export to the EU market, they will easily be able to export to many other markets," the Import-Export Department assessed.

Improve quality to increase market share

Therefore, in the time to come, if businesses invest more in technology, better preservation techniques, and better quality products, there will be many opportunities to increase market share in the EU market. "In order to export to this market, products must meet European standards and international certificates such as fruits and vegetables must be grown according to GlobalGAP standards," the Import-Export Department informed.

The next largest fruit and vegetable import market is the United States. According to statistics from the US International Trade Commission, the value of US fruit and vegetable imports in 2023 will reach US$52.4 billion, an increase of 3 percent compared to 2022. In the first two months of 2024, the value of US fruit and vegetable imports reached US$10.6 billion, an increase of 9.2 percent compared to the same period in 2023. However, imports from Vietnam only account for 0.66 percent of total import value. For the world's second largest demand for imported fruits and vegetables, the United States is a potential market for fruit and vegetable exporting countries, including Vietnam.

Similarly, although China is a key market for Vietnam's fruit and vegetable exports, the opportunity for the industry to increase market share in the Chinese market is still open. Vietnam's fruit and vegetable market share in the Chinese market has increased sharply from 7.9 percent in 2022 to 13.99 percent in 2023. In the first three months of 2024, China's import value of fruits and vegetables reached US$6.6 billion, an increase of 5.85 percent compared to the same period in 2023. Of which, the import value from Vietnam accounts for 9.4 percent, an increase of 1.1 percentage points over the same period in 2023.

According to the Import and Export Department, the demand for fruit and vegetable consumption in China is very large, but the import value from Vietnam is still low. Therefore, the opportunity for the fruit and vegetable industry to increase market share in the Chinese market is still wide open. In order to promote exports to this market, Vietnamese fruit and vegetable businesses need to ensure and improve quality, strictly comply with regulations on quality and traceability.

In the UK market, the demand for imported fruits and vegetables also tends to increase. According to statistics from the International Trade Center (ITC), in 2023, UK fruit and vegetable imports will reach US$17.9 billion, an increase of 5.9 percent compared to 2022. The British market with nearly 68 million people, high average income and demand for diversity with an Asian community of more than 5.5 million people is a potential for Vietnamese fruit and vegetable exporters to exploit.

Canada is the 5th largest fruit and vegetable import market in the world. The country's import of fruits and vegetables in 2023 will reach US$12.5 billion, an increase of 0.4 compared to 2022. However, fruits and vegetables from Vietnam only account for 0.63 percent of the total import value. According to the Import-Export Department, compared to the market's import demand, the proportion of imported fruit and vegetables from Vietnam is too low. Therefore, there is still a lot of room in the Canadian market for Vietnamese fruit and vegetable exporters to exploit.

By Ngoc Linh/Kieu Oanh

Related News

Transparent information protects consumer rights

Transparent information protects consumer rights

VCN - Mr. Vu Van Trung, Vice Chairman of the Vietnam Consumer Protection Association, talked about the issue of consumer protection when the Law on Consumer Rights Protection (amended) will take effect from July 1, 2019. 2024 is here.
Increasing the value of rice grains from the project of 1 million hectares of high quality rice

Increasing the value of rice grains from the project of 1 million hectares of high quality rice

VCN - The implementation of the project of 1 million hectares of high-quality rice will contribute to promoting the transition from traditional farming methods to synchronous mechanization, developing large-scale, stable and long-term concentrated raw material areas, ensuring sustainable and effective farming quality and minimizing environmental pollution. Vietnam is also the first country in the world to build a large-scale project on sustainable rice production and reduced emissions.
Lang Son: Extending working hours, facilitating exporting agricultural products

Lang Son: Extending working hours, facilitating exporting agricultural products

VCN - According to assessments, at this time, Tan Thanh Border Gate and Huu Nghi International Border Gate are two border gates that have a large number of agricultural products and fresh fruits cleared every day. To ensure smooth cargo clearance of goods, Lang Son Customs has been extending working hours to 10pm - 11pm to receive and handle procedures for businesses.
Imports and exports achieve more than US$270 billion

Imports and exports achieve more than US$270 billion

VCN - By mid-May, the country's total import-export turnover reached US$270.82 billion, according to the latest statistics from the General Department of Vietnam Customs.

Latest News

Exports in 2024 expects to reach US$370 billion

Exports in 2024 expects to reach US$370 billion

VCN – Motivated by recent development, exports in 20204 may reach US$ 370 billion, the General Department of Vietnam Customs said.
Coffee output in 2023-2024 crop forecast to fall 20 per cent

Coffee output in 2023-2024 crop forecast to fall 20 per cent

Việt Nam’s coffee output in the 2023–2024 crop year is estimated to decrease by 20 per cent compared to the previous crop year, to 1.47 million tonnes, the lowest in four years.
Pharmaceutical industry sees slowing growth momentum

Pharmaceutical industry sees slowing growth momentum

After record profits and strong growth in 2023, the industry’s momentum faced limitations in 2024 due to rising raw material costs and increased market competition.
Agricultural and food businesses increased profits thanks to export recovery

Agricultural and food businesses increased profits thanks to export recovery

VCN - Many agricultural and food exporters have recorded positive business results thanks to the momentum from the recovery of major markets and solutions to enhance deep processing, helping to improve product value and business efficiency.

More News

The auto industry does not shrink from many challenges

The auto industry does not shrink from many challenges

VCN - In the context of the import tax reduction roadmap being implemented when Vietnam participates in commitments in Free Trade Agreements, the pressure of competition on the Vietnamese automobile industry is also increasingly fierce. Therefore, in addition to tax and fee support, many breakthrough solutions and policies are needed to create a boost for the auto industry.
Traceability helps improve product value

Traceability helps improve product value

VCN - Traceability of origin has been and is a mandatory requirement for Vietnamese goods when exporting to several markets. The application of information technology and the use of QR codes is an effective solution in traceability, increasing value and promoting product consumption, especially agricultural products.
Vietnamese pepper prices see strong upward trend

Vietnamese pepper prices see strong upward trend

The Vietnam Pepper and Spice Association has expected pepper prices to continue rising every week.
E-commerce boosts exports of Vietnamese products

E-commerce boosts exports of Vietnamese products

Digital platforms have played a key role in helping Vietnamese firms take their high-quality products to the world, insiders have said.
Hai Phong Port strengthen solutions to improve cargo handling capacity

Hai Phong Port strengthen solutions to improve cargo handling capacity

VCN - The flow of goods passing through Hai Phong port area has tended to improve recently.
Five trends in exporting through e-commerce

Five trends in exporting through e-commerce

VCN - On May 22, 2024, Amazon Global Selling announced the prominent cross-border e-commerce (CBEC) trends shaping Vietnam's online export economy. Concurrently, it launched phase two of the program "CBEC: The breakthrough era" in collaboration with the Vietnam e-Commerce and Digital Economy Agency (iDEA) under the Ministry of Industry and Trade.
Vietnamese firms urged to watch global trade policies

Vietnamese firms urged to watch global trade policies

Experts say Vietnamese firms should keep an eye on global trade moves by major economies to figure out how best to promote the consumption and export of products made in Việt Nam, in the context of a glut of cheap Chinese goods flooding the world market.
Vietnam’s tra fish export tipped to bounce back

Vietnam’s tra fish export tipped to bounce back

Vietnamese tra fish export has roared back to growth after a significant drop recorded earlier this year as countries have scaled up their imports, according to insiders.
FDI attraction in five months tops 11 billion USD

FDI attraction in five months tops 11 billion USD

More than 11.07 billion USD in foreign direct investment (FDI) was funneled into Vietnam during January-May, up 2% against the same time last year, according to the Ministry of Industry and Trade (MoIT)’s Foreign Investment Agency.
Read More

Your care

Latest Most read
Exports in 2024 expects to reach US$370 billion

Exports in 2024 expects to reach US$370 billion

VCN - However, as of May 15, exports still see positive growth.
Imports and exports achieve more than US$270 billion

Imports and exports achieve more than US$270 billion

By mid-May, the country's total import-export turnover reached US$270.82 billion, according to the latest statistics from the General Department of Vietnam Customs.
Coffee output in 2023-2024 crop forecast to fall 20 per cent

Coffee output in 2023-2024 crop forecast to fall 20 per cent

Việt Nam’s coffee output in the 2023–2024 crop year is estimated to decrease by 20 per cent compared to the previous crop year, to 1.47 million tonnes, the lowest in four years.
Pharmaceutical industry sees slowing growth momentum

Pharmaceutical industry sees slowing growth momentum

After record profits and strong growth in 2023, the industry’s momentum faced limitations in 2024 due to rising raw material costs and increased market competition.
Agricultural and food businesses increased profits thanks to export recovery

Agricultural and food businesses increased profits thanks to export recovery

VCN - According to data from the Ministry of Agriculture and Rural Development, agricultural, forestry and fishery export turnover in April reached 5.14 billion USD, an increase of 19.7% compared to April 2023.
Mobile Version