Vietnam: Unprecedented profitable year for durian and coffee growers
Market & Price Trends
Published Feb 12, 2024
Vietnamese farmers saw a 'bumper harvest' in 2023, with key crops like durian and coffee bringing in unprecedented profits due to high global demand, particularly from China. The export turnover of agriculture, forestry, and fisheries reached over 53 billion USD, with durian alone accounting for more than 2 billion USD. Despite the success, Vietnam's agricultural sector faces challenges due to its fragmented development. The Minister of Agriculture & Rural Development, Le Minh Hoan, has called for more government involvement and plans to issue requirements for farmers to comply with standards and regulations. The ministry predicts continued success in 2024, especially as the impact of El Nino is expected to cause a decline in world food supply.
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In the days approaching the Dragon Festival, many gardeners in the West are busy harvesting off-season durians to sell to China. Each durian fruit weighing 5 kg is sold by the gardener for nearly a million VND, or about 200,000 VND per kg. Mr. Thoai, garden owner in Can Tho, said that there has never been a year when durian farmers have grown a "bumper harvest" like 2023. The price of this fruit is always high during the main season, sometimes reaching 140,000 VND per kilogram. For the first time in more than ten years, he earned a profit of billions of dong by selling durian. Not only in the West, people in the Central Highlands also made big profits last year thanks to the continuously peaking price of this fruit. Mr. Cuong, a gardener in Dak Lak, said he earned 120 billion VND after harvesting 40 hectares of durian. 2023 is a bumper year for key agricultural crops in Dak Lak province, according to Mr. Vu Duc Con, Deputy Director of Dak Lak Department of Agriculture and Rural ...