W37: Durian Update

In W37 in the durian landscape, the demand for durians has increased by 400% globally due to an increase in China's consumption. HSBC Holdings plc reported that China has imported durian worth USD 6 billion over the last two years, accounting for 91% of global demand. In 2022, most of the world's durian exports came from the countries part of the Association of Southeast Asian Nations (ASEAN), these exports made up 90% of the total. Among these nations, Thailand was the largest exporter, accounting for 99% of durian exports from ASEAN. The growing demand for durian created opportunities for other Southeast Asian countries, like Vietnam. In Vietnam, the price of durian can be as low as USD 4 per kilogram (kg), which is lower than in other Southeast Asian countries. The high durian demand in China leaves room for ASEAN countries to enter the market successfully. This presents a significant opportunity for the durian market to expand and challenge Thailand's dominant position in the durian market.

Vietnam also faces increased competition in the Chinese market, resulting in rising prices, dropping deposits, and disruptions. The Ministry of Agriculture and Rural Development reports that Vietnam has been exporting durians to 24 different markets, with over 300 thousand tons exported in the first eight months of 2023. Vietnam planned to expand its frozen durian exports to ten markets in 2023.

Durian prices in Vietnam remained stable in all three primary regions on September 13, with the highest price reaching USD 3.05/kg (VND 74,000/kg) for beautiful Thai durians. The lowest price stood at USD 1.85/kg (VND 45,000/kg) for Ri6 durians. Durian prices in the Southwest region remained stable at USD 2.26/kg to USD 2.43/kg (VND 55,000/kg to VND 59,000/kg), while prices in the Southeast region remained stable at USD 2.26/kg to USD 2.39/kg (VND 55,000/kg to VND 58,000/kg). Beautifully selected Thai durians were priced at USD 2.88/kg to 3.05/kg (VND 70,000/kg to VND 74,000/kg), while those bought in buckets cost USD 2.47/kg to 2.68/kg (VND 60,000/kg to VND 65,000/kg). In the Central Highlands region, Beautiful Ri6 durian prices remained unchanged at USD 2.26/kg to USD 2.39/kg (VND 55,000/kg to 58,000/kg, while Ri6 durians stood at USD 1.85/kg to USD 2.06/kg (VND 45,000/kg to VND 50,000/kg).

Lastly, Thai fruits like durian, young coconuts, mangosteen, pomelo, longan, and rambutan were available in Guangzhou, China from September 1 to September 10. A larger proportion of durians were imported from Vietnam, with Thai durians being primarily the Monthong variety. Compared to Thai Monthong durians, Vietnamese Monthong durians were priced lower during W36, with durian prices ranging from USD 8.30/kg to 10.40/kg for Vietnamese fruit, and from USD 7.86/kg to USD 13.94/kg for Thai Monthong durians.

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