According to the General Department of Vietnam Customs, the country is set to spend a massive $1 billion importing fruits and vegetables from Thailand and China, to meet local demand.
Statistics from the General Department of Customs showed that, for the first nine months, Vietnam imported USD650m worth of fruits and vegetables, a 42% increase compared to the same period last year. It is predicted that USD1bn will be spent on fruits by the end of the year.
Thai fruits and vegetables are becoming Vietnamese favourites, as USD289m had been spent on products from this country alone. Thailand was followed by China and Cambodia at USD150m.
Local firms are facing tough competition on quality, quantity and brand recognition.
Vietnam's fruit and vegetable exports depend greatly on China. As of September, the export turn-over of fruit was second only behind aqua-products and higher than rice. Vietnam had earned USD1.68bn from fruit exports by September 15, an increase of 31% compared to same period last year, of which USD1.3bn was exported to China.
Turnover from South Korea reached USD65m and was followed by the turnover to the US and Japan with USD60m and USD56m.
The World Bank has warned that Vietnam should change its agricultural techniques to ensure higher quality products and sustainable development.
Source: english.vietnamnet.vn