The land of kimchi loves Vietnamese chili more than dragon fruit and durian.
Báo Thanh niên•19/11/2024
It is not durian or dragon fruit that Koreans pay the most to import from Vietnam, but chili peppers and sesame seeds; besides mangoes and bananas, these are the agricultural products that help this country become the second largest importer of Vietnamese fruits and vegetables after China.
According to data from the Vietnam Fruit and Vegetable Association (VINAFRUIT), Vietnam's five main export items to the Korean market are bananas, sesame seeds, mangoes, chili peppers and dragon fruit. In the first 6 months of 2024, Korea spent 164 million USD, an increase of 55% over the same period last year and surpassed the US to become the second largest buyer of Vietnam. Notably, recently, Koreans have spent more money than at the beginning of the year to buy Vietnamese fruits and vegetables. Specifically, compared to the same period in 2023, the first quarter of 2024 increased by 18.5%, and by the second quarter of 2024, it increased by 88%.
Bananas are Vietnam's main export item in the Korean market.
HUMANITY
In the first half of 2024, South Korea imported the most bananas from Vietnam with a value of up to 35 million USD, nearly double that of the same period last year. Vietnam's leading banana exporters to this market, such as Bau Duc's company or Huy Long An, said that they really like to sell to the Korean market because prices are stable throughout the year, making it convenient to balance and plan long-term production. In particular, right after bananas are sesame seeds with a value of nearly 30 million USD, an increase of 62% over the same period last year. Mangoes ranked third with a turnover of nearly 24 million USD, an increase of 72% over the same period last year. Mango exports in the second quarter slowed down compared to the first quarter because it was not the peak harvest season for this fruit - usually in the first and fourth quarters. Chili exports to the Korean market reached 11 million USD, ranking fourth, higher than dragon fruit at 10 million USD. "King of fruits" - durian also achieved a growth rate of 62% but the turnover was still quite modest at only 1.4 million USD. In addition, many items had high growth rates such as: almonds increased 243 times to reach 1.8 million USD, ginger increased 517% to reach 1.2 million USD, perilla seeds increased 352% to reach 1.2 million USD, shiitake mushrooms increased 125% to reach 2.3 million USD... Mr. Dang Phuc Nguyen, General Secretary of VINAFRUIT, analyzed: There are 3 reasons why Korea increased its import of fruits and vegetables from Vietnam. First, good quality, meeting their food safety requirements; second, competitive prices and third, convenient transportation, low cost. In general, the Red Sea tension caused goods originating from South American countries to decline sharply, such as Chile down 11% and Peru down 20%; On the contrary, Korea must increase imports from ASEAN countries. According to Korean customs data, Thailand's fruit and vegetable exports to this country grew the most in the ASEAN region with 42% reaching 147 million USD, Vietnam ranked second with 34% reaching 208 million USD and the Philippines increased by 21% reaching 209 million USD. The 5 largest sources of fruit and vegetable supplies to the Korean market in the first 6 months of 2024 were China, the US, the Philippines, Vietnam and Thailand, respectively.
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