W9 Durian Update: Vietnam's Durian Price Fluctuations, Malaysian Early Durian Ripening and its Impact on Singaporean Market

Published 2024년 3월 7일

In W9 in the durian landscape, Thai authorities have set specific dates for the 2024 eastern durian harvest to maintain the reputation of Thai durians and prevent early picking. The Kasikorn Research Center predicts that Thai durian exports to China will reach USD 4.5 billion in 2024, a 12% YoY increase. Vietnam's durian cultivation covers over 110 thousand ha, with exports to China comprising over 99%. The durian industry is expected to grow at an AAGR of 7.2% from 2019 to 2025. Moreover, local durian market prices in Vietnam fluctuated on February 26, 2024, with Thai durians experiencing higher prices and Ri6 durians decreasing. Lastly, Malaysia's hot climate led to early durian ripening, causing early sales in Singapore. Hence, Malaysian durian production and exports are expected to grow rapidly.

Thai Durian Harvest Schedule and Quality Standards for 2024 Season

Thai authorities have designated specific dates for the 2024 eastern durian harvest to uphold the reputation of Thai durians, prevent early picking, and prevent the sale of substandard fruits. The harvesting dates for Jialun, Qingni and Tomani, and Jinzhen durians are set for April 15, May 5, and May 20, respectively. The dry weight percentage of the pulp varies by durian variety, with Jialun at 27%, Qingni at 30%, Tomani at 30%, and Golden Pillow at 32%. The eastern region of Thailand is the primary durian-producing area in Thailand, where farmers conduct quality tests on samples before harvesting. The Kasikorn Research Center predicts that Thai durian exports to China will reach USD 4.5 billion in 2024, a 12% year-on-year (YoY) increase. Thai durians accounted for 68% of the Chinese market in 2023, while Vietnamese durians have gradually increased their market share.

Vietnamese Domestic Durian Prices on February 26, 2024

On February 26, 2024, there were significant fluctuations in the domestic durian market prices in Vietnam. Prices for high-quality Thai durians increased, while prices for Ri6 durians decreased. The highest price recorded for Ri6 durians was USD 5.75 per kilogram (VND 142,000/kg). In contrast, the highest price for Thai durians reached USD 8.10/kg (VND 200,000/kg) in the Southwest region. Price ranges varied across regions, with Ri6 durians priced between USD 2.63 to 5.75/kg (VND 65,000 and 142,000/kg), Thai durians between USD 3.44 and 8.10/kg (VND 85,000 and 200,000/kg), and Musang King durians between USD 6.48 and 7.69/kg (VND 160,000 and 190,000/kg). Prices for high-quality Ri6 durians exhibited variations in the Southeast and Central Highlands regions.

Anticipated Surge in Vietnam's Durian Production and Exports for 2024

Vietnam's durian cultivation covers over 110 thousand hectares (ha), yielding nearly 850 thousand tons annually. Most durian production is concentrated in the Central Plains region, with exports to China comprising over 99% of Vietnam's total durian exports. The durian industry is expected to grow at an average annual growth rate (AAGR) of 7.2% from 2019 to 2025. Vietnam needs to enhance product quality and packaging design to secure a stronger position in the Chinese market. The Secretary-General of the Vietnam Fruit and Vegetable Association anticipates increased durian production in 2024, with exports potentially reaching USD 3.5 billion if more planting areas are established and export-grade packaging facilities are improved. Its competitive pricing and favorable reception in import markets drive the durian industry's success.

Malaysia's Durian Production Set to Reach 506 Thousand Tons by 2025

Malaysia's hot and humid climate has caused some durians to ripen early, leading to their early sale in Singapore. A durian chain with multiple stores in Singapore is selling Musang King durians for USD 7.45/kg (SGD 10/kg). Typically, the durian season begins in June, but durians are ripening and falling daily from Feb-24. Durian farms in Pahang, Malaysia, have commenced harvesting due to favorable weather conditions. Malaysian durian production and export volumes have significantly increased, with production projected to reach 506 thousand tons by 2025. The industry anticipates rapid growth, with a compound annual growth rate (CAGR) of 7.2% from 2023 to 2033. Malaysia also aims to finalize a protocol for exporting fresh durians to China, with exports expected to commence on May-24.