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W48 Durian Update: Rising Thai Durian Prices in Vietnam in Nov-23, Anticipated Record High Exports, and Johor's Plan for Durian Collection Center

Durián fresco
China
Market & Price Trends
Laos
Publicado 6 de dic. de 2023
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Thai Monthong durians are experiencing a 25% to 30% increase in prices in the Vietnamese market, reaching up to USD 6.19/kg. The price growth is attributed to increased demand in the Chinese market, resulting in low output and decreased crop yields. In addition, the Vietnam Fruit and Vegetable Association predicts a record high of USD 2.5 billion in export turnover in 2023. Johor plans to establish a durian collection center to manage oversupply and stabilize prices.

Vietnamese Durian Prices Surged in Nov-23, Thai Monthong Hits Record Highs Due to Increased Demand

In the Vietnamese market, Thai Monthong durians are being purchased at warehouse prices up to USD 6.19 per kilogram (VND 150,000/kg), a 25 to 30% increase from the beginning of Nov-23 and by 60% compared to primary season goods. Traders purchasing durians in the Western and Central Highlands provinces said that in W47, off-season durian prices continuously set new peaks. Among them, Monthong Thai durian has the most substantial increase. Similarly, Ri6 type A durian stood at USD 4.95/kg (VND 120,000/kg), Ri6 type B stood at USD 4.95/kg (VND 105,000/kg), and type C was about USD 3.09/kg (VND 75,000/kg).

Thai durian prices continuously increase due to growing demand in the Chinese market, with low output and decreased crop yields in Vietnam. Gardeners have been processing durian gardens to sell them at reasonable prices, leading to decreased production. Due to harsh weather conditions, Durian importers are also increasing their purchases of Vietnamese products. The Department of Crop Production and Plant Protection in Cần Thơ acknowledges the increase in durian prices but warns that supply is scarce. The Vietnam Fruit and Vegetable Association estimates that Vietnamese durian will reach a record high of USD 2.5 billion in export turnover in 2023, six times higher than in 2022.

Vietnamese durian production increased 15.9% in 2023, reaching over 1 million tons. The Department of Crop Production recommends that businesses and localities maintain product quality and comply with importer regulations to maintain the reputation of Vietnamese goods, with the third and fourth quarters generating 350 thousand and 260 thousand tons, respectively.

Durian Farmers Thrive in Tiền Giang Province, Boosting Local Agriculture

Durian farmers in Tiền Giang Province, Vietnam, are thriving, generating substantial income and boosting local agriculture. In Cai Lai Town and Cai Lậy District, small traders buy durians at prices exceeding USD 4.13/kg (VND 100,000/kg). With a durian planting area exceeding 3 thousand hectares (ha), durian is the primary agricultural export, delivering substantial economic gains. The economic department is promoting technology transfer and implementing planting area codes to harness the export potential. Since Jul-22, durian has become a significant agricultural phenomenon, with the durian planting area expanding to 21.7 thousand ha.

Johor Plans Durian Collection Center to Manage Oversupply and Stabilize Prices

The Johor Government plans to establish a durian collection center in Tangkak to increase production by 141.8 thousand tons by 2027. The State Agriculture Department has found an oversupply of durians due to large-scale planting by farmers in recent years. If this oversupply occurs, the price of durians, including Musang Kings, may drop. The collection center will store the fruits when mega farms start fruiting, and the durians will be frozen for off-season marketing. The aim is to ensure the state's efforts to meet the demand for durians, the region's most abundant fruit.

Thailand Boosts Agricultural Exports to China Through Railway Collaboration

Thailand plans to increase agricultural exports like durians to China through the railway system, following collaboration between ministries, branches, and the private sector. The decision aims to establish a more robust logistics network for cross-border trade, allowing more comprehensive access to Thai agricultural products in the global market. The Thailand-Laos and Laos-China Railway systems will also help Thai agricultural products reach China faster, potentially reducing trade costs by 30% to 50% in the next three to five years. Thailand's fruit export turnover to China has increased significantly.

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