Vietnamese Dragon Fruit Prices Soared by 50% YoY Amid Drought-Induced Production Decline

In Vietnam, Grade 1 dragon fruit prices have surged to USD 1.77 per kilogram (VND 45,000/kg), a 50% year-over-year (YoY) increase from the previous year. This rise is driven by drought conditions that have significantly reduced production. Meanwhile, Grade 2 dragon fruit prices range from USD 1.38/kg to 1.57/kg (VND 35,000/kg to VND 40,000/kg). The drought has led to a 20 to 30% reduction in output, causing daily purchases to drop significantly. Despite price increases since Feb-24, they are expected to decline with the primary harvest season. Moreover, dragon fruit exports rose nearly 10% YoY from Jan-24 to Feb-24, reaching USD 117 million. Major export markets include China, Thailand, Cambodia, Australia, New Zealand, Japan, and South Korea.