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Vietnamese Dragon Fruit Strengthen Market Presence in Europe and US

June 12, 2024

As a key export product, dragon fruit were once a star item for Vietnam, with export revenues exceeding $1 billion. However, since 2020, Vietnam’s export revenue from the fruit has plummeted by nearly half owing to reduced demand from China.

Behind this declining demand is that China’s domestic dragon fruit cultivation has been developing rapidly in recent years. According to data from Vietnam Customs, the export value of Vietnamese dragon fruit sent to China in the first four months of 2024 was only $162 million, representing a significant decrease of 19.3% compared with the same period of last year.

The total export value of Vietnamese dragon fruit during this period was $230 million, a year-on-year decrease of 7.5%. Despite the drastic decrease in shipments to China, exports to the United States, the United Kingdom, Germany, France, Australia and India all surged.

Germany and the United Kingdom saw the largest increases in export volume, growing by 2.3 times and 2.7 times, respectively, with export values of $786,000 and over $1 million, respectively. Meanwhile, shipments to the United States and India totaled approximately $13 million and $16.5 million, representing year-on-year increases of 102% and 33%, respectively.

The head of a fruit export company in Ho Chi Minh City stated that although the market share of Vietnamese dragon fruit in the United States, the United Kingdom, Germany and India remains relatively small, dragon fruit are still a novel product for consumers in these countries. As Vietnamese dragon fruit become increasingly popular on these markets, the export revenue is expected to rise in the second half of the year. Additionally, this year’s dragon fruit crop is more consistent in terms of size and weight than in previous years, aligning more closely with the preferences of consumers in Europe and the United States.

According to Dang Phuc Nguyen, general secretary of the Vietnam Fruit and Vegetable Association, the El Niño phenomenon has resulted in a notable decrease in global dragon fruit production in 2024. As the primary dragon fruit suppliers to Europe and the United States, Mexico and South American countries have also faced poor harvests this year. This situation has opened up opportunities for Vietnam.

Fueled by the robust demand from Europe and the United States alongside limited supply, dragon fruit prices in Vietnam have remained high this year. Prices of white-fleshed dragon fruit currently range from 14,000 to 16,000 Vietnamese dong ($0.55–0.63) per kilogram, marking an increase of 2,000–3,000 dong ($0.08–0.12) from last month, while those of red-fleshed dragon fruit are hovering around 30,000–43,000 dong ($1.18–1.69) per kilogram.

Image: Pixabay

This article was translated from Chinese. Read the original article.

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