Vietnam may earn US$4.7 billion from fruit, veggie exports in 2018
Fruits and vegetables may earn the country US$4.7 billion this year, according to the Ministry of Agriculture and Rural Development.
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The Ministry said it will continue encouraging farmers across the country to replace rice in areas producing low output with other crops of higher economic value such as fruit trees, vegetables or flowers.
The Ministry will also push for the use of high-quality seeds and seedlings along with advanced farming technology in agriculture to improve the value and competitiveness of domestic farm produce.
Vietnam earned over US$2 billion from exporting fruits and vegetables in the first half of 2018, a year-on-year rise of 19.7%.
During the period, Vietnamese fruit and vegetable exports to the largest markets registered high growth, with China ranking first as the country imported US$1.2 billion worth of products, an annual increase of 18.1%.
The US came second with US$50.9 million, up 14.6%. It was followed by Japan with US$46.7 million, up 8%; the Republic of Korea with US$46.5 million, up 15.4%; and Thailand with US$26.1 million; up 26.3%.
At present, China remains Vietnam's top export market, accounting for 74.6% of the latter's fruit and vegetable export turnover in the first five months.
The result is attributed to the similarity in demand, habits and consumer taste and close geographical distance between Vietnam and China. However, requirements for product quality of the Chinese market are increasing as the common trend of the world.
Last year, Vietnam’s fruit and vegetable export value exceeded US$3.5 billion. The sector is striving to reach a year-on-year growth of 10-15% this year, or around US$4 billion.
