Source: Vinannet.vn
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 520 million USD, an increase of 10.7% compared to March 2024 and an increase of 33.9% compared to the previous year. April 2023. In the first 4 months of 2024, fruit and vegetable exports are estimated to reach 1.8 billion USD, up 32.1% over the same period in 2023.
Regarding the market, the proportion of fruit and vegetable exports to Asia accounts for 82.4% of the total export value. Of which, fruits and vegetables are mainly exported to China, accounting for 71.8% of the total export value. The growth rate of fruit and vegetable products to the Chinese market reached a high level, contributing to promoting the fruit and vegetable industry to grow well in the first quarter of 2024, reaching 759.4 million USD, an increase of 32.4% over the same period last year. 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 coming time.
Notably, with an average import demand for fruits and vegetables of 153 billion USD/year in the period 2019 – 2023, Europe is the largest fruit and vegetable import market in the world (according to data from the World Trade Center). International). However, the proportion of imports from Vietnam only accounts for 0.22% 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 coming time, 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. “When wanting 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 52.4 billion USD, an increase of 3 % compared to 2022. In the first 2 months of 2024, the value of US fruit and vegetable imports reached 10.6 billion USD, an increase of 9.2% over the same period in 2023. However, imports from Vietnam accounting for only 0.66% of total import value. With 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% in 2022 to 13.99% in 2023. In the first 3 months of 2024, China’s import value of fruit and vegetable products reached 6% 6 billion USD, an increase of 5.85% over the same period in 2023. Of which, the import value from Vietnam accounts for 9.4%, 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, so the opportunity for the fruit and vegetable industry to increase its market share in the Chinese market is still large. open. 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 17.9 billion USD, an increase of 5.9% compared to 2022. The UK market with nearly 68 million people, high average income, diverse needs with the Asian community of more than 5.5 million people are 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 12.5 billion USD, an increase of 0.4% compared to 2022. However, fruits and vegetables from Vietnam only account for 0.63% 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 export enterprises to exploit.
