The attraction of the billion-people market and good news for Vietnamese agricultural products

Published 2024년 9월 22일

Tridge summary

Vietnam has made a significant breakthrough in its agricultural trade with China by exporting fresh coconut, frozen durian, and farmed crocodiles to the Chinese market, valued at 3.2 - 3.5 billion USD, 400 - 500 million USD, and an estimated value for crocodiles. This move is anticipated to bolster Vietnam's agricultural sector, with durian exports expected to reach 7 billion USD in 2024 and fruit and vegetable exports exceeding 700 million USD in August 2024. The export of crocodiles provides a promising path for the sustainable development of the industry. To ensure smooth exports, facilities must adhere to strict standards, including CITES management, and farmers can benefit from propagandizing, training, and guidance from the Ministry of Agriculture and Rural Development. Additionally, official export through e-commerce channels is highlighted as a strategic solution to reach consumers directly and reduce reliance on intermediaries.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Good news Minister of Agriculture and Rural Development Le Minh Hoan shared that recently, the Ministry of Agriculture and Rural Development of Vietnam and the General Department of Customs of China signed 3 protocols, paving the way for the export of fresh coconut, frozen durian and crocodile to the market of 1.4 billion people - China. This is an important step forward in the agricultural trade relationship between the two countries, especially for Vietnam's agricultural sector. It is expected that frozen durian exports can reach a turnover of 400 - 500 million USD in 2024 (the first year after signing the Protocol) and bring the total export value of durian to 3.2 - 3.5 billion USD. Mr. Dang Phuc Nguyen, General Secretary of the Vietnam Fruit and Vegetable Association, commented that the demand for fresh coconut imports in the Chinese market is very large and tends to grow steadily, each year higher than the previous year. Meanwhile, China's coconut output only meets about 10% ...

Source: VNRuralEconomics