W1 Durian Update: Vietnam's Durian Exports Soar to USD 2.22 Billion in 2023, Boosting Growth in 2024

Vietnamese Durian Exports Soar to Record-Breaking USD 2.22 Billion in 2023

Vietnam exported USD 2.22 billion worth of durian products in 2023, with demand increasing in non-traditional markets. Fresh and frozen durian exports reached over USD 2 billion and nearly USD 130 million, respectively. China contributed USD 2 billion worth of Vietnamese durian exports, while the Czech Republic spent USD 10 million. Canada, the United States, and Papua New Guinea spent USD 4 to 6 million. Thailand was the biggest consumer of frozen durian products, spending USD 97 million. Vietnam's high-quality durians, affordable costs, and year-round harvest make it a competitive fruit. Experts are optimistic about the durian market in 2024, with predictions of further export growth, mainly if China issues licenses for Vietnamese frozen durians.

Vietnamese Durian Market Thrives Amid Price Surge and Anticipation of Chinese Approval for Frozen Exports in 2024

The local Vietnamese durian prices have slightly increased, with Ri6 durian reaching USD 3.49 to 4.11 per kilogram (VND 85,000 to 100,000/kg) in the southwest region and Thai durian priced at USD 5.55 to 6.24/kg (VND 135,000 to 152,000/kg). Vietnam is anticipating China's approval for the export of frozen durian, a development that could significantly boost the export value of this tropical fruit.

The Ministry of Agriculture and Rural Development is optimistic about the durian industry's growth potential. To support this growth, plans for infrastructure improvements are in place, reflecting the government's commitment to developing and enhancing the durian industry in the country.

Thriving Durian Trade at Kim Thanh International Border Gate No. 2 in Lào Cai Drives Early 2024 Growth and Investment Opportunities

In early 2024, the Kim Thanh International Border Gate No. 2 in Lào Caiexperienced smooth import-export activities, primarily focusing on agricultural products. Vietnam's fresh fruits, including bananas, mangoes, and jackfruit, are regularly exported to China. Durian products, such as Monthong and Ri6, are priced well due to the low supply. In the first three days of 2024, over 255 tons of durian were exported to China, generating nearly USD 1 million in turnover. The total import-export turnover through the border gate reached almost USD 5.4 million. In 2024, trade and import-export activities are expected to improve, with increased investment opportunities and strategic investors. Lào Cai Province aims to achieve an import-export turnover value of USD 4.5 billion, a 264.7% year-on-year increase.