Durian prices plunge 40% in a month

Prices in the localities of Tien Giang, Ben Tre and Can Tho, where the majority of the fruit is grown, have plummeted 70% from early February.

Vendors say that prices have fallen because Chinese buyers have cut down on purchases.

“There is a large supply of Ri6 durian. Some farmers harvest hundreds of tons each day,” said vendor Linh in Tien Giang.

She added that the Chinese buyers she knew were not rushing to buy more as durian in Thailand and the Philippines were also starting to ripen for harvest.

Thailand has long been exporting large quantities of durian to China, while the Philippines obtained permits to export to this country earlier this year.

China is also growing its own durian to meet domestic needs. The country has over 93 hectares of the fruit on Hainan Island.

Laos has agreed to set aside 30,000 hectares of agricultural land to grow durian specifically for the Chinese market, equivalent to around 27% of Vietnam’s durian farming area.

Vietnamese durian was the fastest-growing export to China among fruits in the first two months of this year, rising by 291% year-on-year to $56.9 million.

The country’s farming area reached 110,000 hectares by the end of last year after the country was allowed to officially export the fruit to China. This exceeded the government’s plan by nearly 47%.

Two main types of durian grow in the region, Ri6 and Monthong.