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Chinese New Year Demand Sends Vietnamese Durian Prices Soaring

January 30, 2024

Recent Vietnamese media reports have highlighted a surge in the price of Monthong durians, with individual fruits now selling for upward of $40. This dramatic increase is attributable to strong demand in China, resulting in a 23% price increase within the past month and a staggering 50% increase since last year’s harvest season.

Currently, mature durians are available only in specific parts of the Mekong Delta and Central Highlands regions, and supplies are severely limited. On Jan. 25, the purchase price of high-quality Kanyao durians hit 115,000 Vietnamese dong ($4.78) per kilogram.

Traders in western Vietnam have reported a continuous rise in durian prices over the past week, even witnessing large fluctuations during the course of a single day. Monthong durians are fetching the highest prices, with even ordinary fruit selling for around 150,000 dong ($6.14) per kilogram.

The supply of durians in Vietnam is very limited during the off-season. High demand from the Chinese market and low local supply are driving prices to unprecedented levels. Exporters are attempting to secure supplies directly from orchards but are still struggling to keep up with the soaring demand.

Dang Phuc Nguyen, general secretary of the Vietnam Fruit and Vegetable Association, anticipates a peak in sales during the upcoming Chinese New Year period, when durians are a popular gift. With Thai durians no longer available, traders are turning to Vietnam in an effort to fulfill orders.

Data from the General Department of Vietnamese Customs indicate that Vietnam’s durian exports reached $2.1 billion in 2023, an increase of $1.82 billion over the previous year. The Chinese market now accounts for 99.4% of this total. In 2024, Vietnam’s durian exports are forecast to reach $3.5 billion, an increase of 55% from 2023.

Image: Pixabay

This article was based on a Chinese article. Read the original article.

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