Tuesday, March 19, 2024 3:34:52 PM - Markets open
VN-INDEX 1,242.46 -1.10/-0.09%
HNX-INDEX 236.16 -0.51/-0.22%
UPCOM-INDEX 90.60 +0.28/+0.31%
Fruit, vegetable export targets unlikely to be achieved in 2020
Vietnam News - 3/15/2020 2:52:05 PM
 (0 ratings. You must sign in to rate.)
Fruit and vegetable exports are unlikely to hit the target of US$4-5 billion set for this year, according to the Việt Nam Fruit and Vegetables Association.
 
Đặng Phúc Nguyên, the association’s general secretary, said exports were worth $513 million in the first two months of this year, a year-on-year decline of 11.9 per cent.
 
They were expected to be just over $3 billion for the full year, down from $3.74 billion in 2019, he said.
 
“Fruit and vegetable exports have faced difficulties this year due to the Covid-19 epidemic. Exports to China, the biggest buyer, might decrease significantly from last year.”
 
Exporters were striving to sell more to other markets to make up for the decline in shipments to China, he said.
 
Nguyễn Hồng Sơn, president of the Việt Nam Academy of Agricultural Sciences, said: “In the last three years many markets with high-quality requirements such as the US, Australia, New Zealand, Europe, and some Asian countries have opened their doors to many kinds of Vietnamese fruits.
 
“It is a good sign to prove to countries around the world that our products can fully meet the global market’s quality requirements.”
 
“But, we need to enhance trade promotion programmes to further boost exports to foreign countries.”
 
"Most fruits and vegetables are exported in fresh form, and enterprises need to invest more in processing facilities to meet market demand, particularly in Europe," he said.
 
According to Nguyên, to boost export to the US and Europe, cultivation methods must be changed to apply global good agriculture practices or higher.
 
“Storage and packaging technologies must be improved to enable our products to last for over 30 days so that they can be shipped to Europe and the US by sea.
 
“Currently our exports ... are completely done by air, and so prices are high and export volumes are low.”
 
Domestic market
 
In addition to boosting exports, firms would also need to pay close attention to the lucrative domestic market of 100 million, Nguyên said.
 
"With their increasing incomes, Vietnamese are consuming more products that are good for health, and so demand for fruits and vegetables has increased significantly in recent years," he said.
 
According to the association, big cities such as Hà Nội, HCM City, and Đà Nẵng have huge demand.
 
Statistics from Saigon Co.op show that sales of fruits and vegetables at its supermarket chains have gone up significantly to around 1,100 tonnes a month.
 
Sơn said, “Enterprises have so far focused on exports and paid little attention to the domestic market.
 
“When we have export problems, we recognise that the domestic market is very important.
 
“We should not think that the domestic market will accept low quality. Nowadays consumers in big cities pay close attention to the quality of products.”
 
Concurring, Nguyên said, “Demand for fruits and vegetables in the domestic market is high, but it does not mean people will eat whatever you grow.
 
“The producers must ... ensure product quality so that their products have a steady market.”
 
Sơn said imports of fruits and vegetables into Việt Nam had increased consistently, and people thought that they were of good quality, meeting hygiene and food safety standards.
 
“Good propaganda is needed to make Vietnamese consumers understand that Việt Nam's products also meet hygiene and food safety standards now and can be exported to many countries that have high-quality requirements.”
 
Besides, firms needed to seek measures to minimise intermediary costs so more consumers could access the products, he said.
 
He pointed out that while fruit prices were very low at the farm, their prices in the market were much higher, putting them out of reach for many consumers.
 
He also urged firms to process fruits into beverages for the domestic market.
 
“The demand for beverages ... is great. We only have a few companies investing in processing fruits into fruit-based drinks. It is necessary to increase the scale of processing.”
 
After focusing mainly on exports for a long time, some large fruit distributors have turned their attention to the domestic market.
 
A spokesperson for Vina T&T said since last August the company had been opening stores to sell export-quality fruits in the domestic market.
 
They had achieved good sales growth, he added. — VNS
 
Read original article here
Newer News
15/03 Petrol prices decrease slightly in latest adjustment
15/03 HCM City urged to create breakthroughs in foreign investment attraction
15/03 Japan seeks to boost seafood processing collaboration with Việt Nam
15/03 Việt Nam's rice exports to Senegal remain low compared to demand
15/03 Northern power corp’s output up 12.02 per cent
15/03 Controlling shipping line surcharge increases for market stability
14/03 Đà Nẵng tapped to transform into international financial centre
14/03 Vietnamese economy making dynamic shift with robust growth: Hong Kong news site
14/03 Việt Nam's GDP reaches over $430 billion in 2023, fifth most in Southeast Asia
14/03 PM chairs meeting on monetary policies to remove obstacles, promote growth
Older News
14/03 Việt Nam achieves trade surplus of almost $2b in two months
12/03 Tight co-ordination needed to ensure EVFTA benefits
23/02 Digital platforms improve competitiveness
22/02 Telecoms firms turning to digital content
20/02 Boosting structural reform and businesses’ competitiveness vital to grab CPTPP opportunities
13/02 VN’s GDP growth to reach 6.25 percent if COVID-19 outbreak is contained in Q1
08/02 VN acts to improve labour productivity
02/02 VN invests $3.97m abroad in January
30/01 CPI in January hits record high in recent 7 years
29/01 Pepper price to remain low this year
 
Newsletter Signup
Top Stories
Man owes bank nearly VNĐ9 billion in credit card's interest after 11 years
VN-Index corrects, liquidity stays high
Stock Market Upgrade Journey: overcoming hurdles and reaching new heights
Corporate bond market quiet in February
Losses in bank stocks weigh on market sentiment
Market Update
Last updated at 3:05:01 PM
VN-INDEX 1,242.46 -1.10/-0.09%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.