Earlier, Lotte Mart and the Vietnamese Embassy organized an event in Seoul to introduce Vietnamese bananas to Lotte supermarkets across the RoK.

The bananas sold in Lotte supermarkets, LOPANG BANANAS, are grown in the highlands area of Lo Pang commune in Mang Yang district, Gia Lai province. Their skin is thick and they taste sweeter than other types of bananas.

The fruit has been exported to the RoK since 2014 but only on a trial basis to gauge market response and it hasn’t been present at major retailers like Lotte Mart until now.

Photo for illustration

Exports of the Vietnamese banana to the RoK have been on the rise in recent years, from about 180 tons worth USD 132,000 in 2015 to 6,685 tons worth USD 4.2 million in 2019.

The RoK imports more than USD 300 million worth of bananas annually. Almost all bananas sold in the country are imported, as its soil is not suitable to grow the fruit. Therefore, the Vietnamese banana is expected to have a large market share in the country.

The Vietnamese Embassy is set to continue working closely with Lotte Mart and other distributors to boost banana exports in the time to come.

The Philippines is currently the largest banana exporter to the RoK, with a market share of 78.6 percent, followed by Ecuador (7.7 percent), Guatemala (5.2 percent), Peru (5 percent), Mexico (1.6 percent), and Vietnam (1.4 percent).

Translated by Song Anh