Earlier this month, the Vietnamese Ministry of Agriculture and Rural Development and China’s General Administration of Customs signed three protocols regarding the export of these products to China.
Since July 2022, when Vietnam’s fresh durian was officially allowed to be shipped to China, the export value of this fruit has surged, reaching 2.3 billion USD in 2023, with exports to China accounting for 90% of the Southeast Asian country's total. Therefore, China's decision creates more opportunities for the agricultural sector to increase its added value and mitigate risks associated with reliance on fresh product exports.
According to the Vietnam Fruit and Vegetable Association (Vinafruit), with the newly-signed protocol, frozen durian is expected to join the list of billion-USD export commodities by 2025, and soon serve as a significant "boost" for the durian sector to reach the export value target of 3.5 billion USD, helping bring the overall fruit and vegetable export revenue to 7 billion USD this year.
Meanwhile, the export value of fresh coconut is forecast to increase by an additional 200-300 million USD in 2024 and continue to grow significantly in the following years.
Vietnam is currently among the top 10 largest coconut growers in the world, with an area of nearly 200,000 hectares and a yield of approximately 2 million tons per year, primarily concentrated in the Mekong Delta region.
In addition to frozen durians and fresh coconuts, the export of farmed crocodile products also contributes to diversifying Vietnam's agricultural exports to China.
Farmers and exporters are advised to strictly follow regulations and standards on product quality.
In the first seven months of 2024, China remained one of the top three markets for Vietnam's agro-forestry-aquatic product exports, accounting for 20.5% of the total, a 11.3% increase compared to the same period last year. With the three new protocols, Vietnam's agricultural product exports to China are expected to continue to "boom," providing a favourable foundation for achieving the sector's export target of 54-55 billion USD in 2024.
Source: NVA