W3 Durian Update: Vietnamese Durian Prices Surge and Durian Exports Increased to USD 2.1 Billion Amidst Trade Adjustments During 2023

Published 2024년 1월 24일

Vietnamese Durian Prices Soar as Fruit Exports Set to Surge in Global Markets

On January 15, 2023, durian prices in the local Vietnamese market increased for the Thai and Ri6 varieties, with beautiful Ri6 durian reaching a price of USD 4.32 per kilogram (VND 106,000/kg) and beautiful Thai durian reaching USD 6.51/kg (VND 160,000/kg). The export value of Vietnamese fruits and vegetables is booming, with businesses predicting growth in the Chinese, United States (US), Japanese, and European Union (EU) markets. The Vietnam Fruit and Vegetable Association (VINAFRUIT) predicts that fruit and vegetable exports will surpass USD 6 billion in 2024, potentially reaching USD 7 billion, focusing on durian products and the potential export of coconut products, frozen fruits, and watermelons to China.

Vietnam's Rise in China's Durian Market Amid Growing Competition and Malaysia's Strategic Plans

In 2022, Thai durian's market share in the Chinese market decreased to 95% year-on-year (YoY) due to increased imports from Vietnam. Vietnamese durian accounted for 5% of China's durian imports during 2023. The fresh durian market in China is large, but competition is increasing. Malaysia plans to export fresh durians to China in 2024, focusing on ripe durians and promoting quarantine inspection. Malaysian experts propose creating a Malaysian durian logo to compete.

Vietnam's Increasing Export Surge to USD 2.1 Billion Amidst Overall Trade Adjustments in 2023

Vietnam's total import and export value for 2023 is expected to reach USD 681.04 billion, a decrease of 6.9% YoY. However, the country's durian exports have increased significantly, reaching USD 2.1 billion from USD 288 million the previous year. This product group accounts for 99.4% of Vietnam's total export value of fruits and vegetables.

EU Border Inspections for Vietnamese Exports, Including Durian Residue Checks

Vietnamese products exported to the EU, including bell peppers, instant noodles, and durian, will undergo inspection at the border gate, with frequencies of 50%, 20%, and 10%, respectively. Durian residue inspection will be the first time in the EU's history.