Vietnamese Fruits Gaining Larger Market Share in Singapore

As the Vietnamese Trade Office in Singapore works to encourage the export of Vietnamese fruits, especially longan and lychee, it is anticipated that these fruits will have a larger share of the market.

0
406
Vietnamese Fruits Eye Bigger Market Share in Singapore
Vietnamese lychee is introduced in Singapore. Photo: Ha Noi Moi

A series of engaging activities, including the Vietnamese Goods Week program, business networking, and lychee tasting events, have recently taken place in the vibrant island nation of Vietnam, VietnamPlus reported.

Further support from the office is also available for any Vietnamese localities and enterprises with the intention to export fresh lychee and longan to the market.

According to Singaporean business administration data, Singapore spent SGD 6.78 million (US $5.02 million) and SGD 4.6 million on importing fresh lychee and longan, respectively, last year. Notably, Vietnam accounted for SGD 43,000 and SGD 4,000 of the total imports of these two fruits, respectively.

Vietnam’s lychee and longan have found success in numerous demanding markets, including Japan, the Republic of Korea, and Australia. With their renowned quality, well-established brand, and promising potential, the fruits have the potential to make a mark in Singapore as well.

In late May, the Ministry of Industry and Trade convened a meeting with Vietnam Trade Offices abroad to strategize on how to increase the exports of lychee and longan, as many northern localities have begun to harvest the fruits, VOV reported.

Speaking at the event, Director of the Bac Giang Provincial Department of Industry and Trade Tran Quang Tan stated that the province’s total lychee production is estimated to reach a record of over 180,000 tonnes this year. The harvesting period is expected to take place from May 25th to July 30th.

Vietnamese Fruits Eye Bigger Market Share in Singapore
Vietnamese lychee. Photo: VNA

Apart from the traditional market of China, its promising markets include the United States, the European Union, Japan, the Republic of Korea, Australia, Malaysia, the United Arab Emirates, Singapore, the Middle East, Thailand, and Hong Kong (China).

Director of the Hai Duong Provincial Department of Industry and Trade, Tran Van Hao, recently announced that the province is currently home to nearly 9,000 hectares of lychee trees, with an expected harvest of 61,000 tonnes for the year, of which 31,000 tonnes will be early-ripening lychee.

Do Thang Hai, Deputy Minister of Industry and Trade, has urged related departments to regularly monitor the status of agricultural produce, particularly lychee and longan, and the foreign demand for these goods.

The Vietnam Trade Offices abroad were tasked with closely monitoring the market situation, trade policies, and export requirements for key commodities, thus providing timely guidance for the ministry’s leadership to support localities, associations, and businesses.

The Vietnam Trade Promotion Agency (Vietrade) must enhance their policy research and forecasting to provide comprehensive assistance to businesses in the realms of trade promotion and export-import activities, stated the official.

Vietnamese Fruits Eye Bigger Market Share in Singapore
As many as 5,400 tonnes of fresh lychees have been exported to China via Lao Cai province’s Kim Thanh II international border gate since the beginning of the harvesting season. Photo: VNA

As many as 5,400 tonnes of fresh lychees have been exported to China from Lao Cai province’s Kim Thanh II international border gate since the start of the harvesting season, according to Pham Van Phuc, deputy head of the Customs Office at Lao Cai International Border Gate, as reported by Nhan dan (People) newspaper.

The Lao Cai Economic Zone Management Board announced that nearly 29,000 tonnes of lychee from Hai Duong and Bac Giang provinces are expected to be exported to China in 2021. This will provide a significant boost to the local economies of these two provinces.

The volume of exported fruit is set to skyrocket as lychee enters its main season, with an estimated 50-70 trucks of the fruit passing through the Lao Cai border gate to China on a daily basis starting June 10.

Rosy Huong