Fruit and vegetable exports to China slump by 34%
VOV.VN - Vietnam’s fruit and vegetable exports to the Chinese market during the first half of the year dropped by 34% to US$799.7 million on-year, according to figures given by the General Department of Vietnam Customs.
Throughout the reviewed period, the nation raked in US$1.68 billion from fruit and vegetable exports, suffering a decline of 17.1% against the same period from last year.
Experts from the Import-Export Department attributed the decline to the northern neighbour’s zero-COVID policy, adding that local businesses must be active in fully tapping into new export markets and increasing the export of fruit and vegetables to demanding markets such as the United States, the Republic of Korea, and Japan.
However, there have been several recent positive signs for the export of fruit and vegetables in the Chinese market, particularly after they agreed to allow the nation to pilot exporting passion fruits to this market.
The export of additional Vietnamese fruit to China via official channels has contributed to increasing the value of fruit and vegetable exports to this market in the second half of the year.
With regard to the potential for exporting fruit and vegetables to the UK market, the country was the 13th largest supplier of fresh tamarind, apple, jackfruit, lychee, plum, passion fruit, and star fruit coded HS 081090 to the UK during the initial four months of the year, with turnover reaching US$234,000.
At present, following the enforcement of the UK-Vietnam Free Trade Agreement (UKFTA), Vietnamese fruit and vegetable products have enjoyed high competitive advantages over similar products coming from China, Thailand, Malaysia, and Indonesia, all of which have not yet signed FTAs with the UK.
Experts assessed that the trade pact has played a crucial role in helping Vietnamese goods enhance their competitiveness in the UK market, with a key factor being import duties slashed to 0% after January 1, 2021, adding that local firms must optimise the opportunity to accelerate fruit and vegetable exports to the fastidious market moving forward.
