Sunday , May 19 2024

Vietnam reaps over $10 million from banana exports to Japan, South Korea

Vietnamese fresh and dried banana exports to Japan and South Kore hit $6.6 million and $4.1 million respectively last year, accounting for 0.6% and 1.3% of the countries’ market shares.

Vietnam can increase exports if local firms improve banana quality and packaging, and conduct more marketing campaigns, said Do Quoc Hung, deputy director of the Asia-Africa Market Department under the Ministry of Industry and Trade at a workshop Wednesday.

Japan and South Korea annually spends $1 billion and $300 million importing bananas, respectively.

Vietnam’s total fresh banana export value stood at $310.6 million in 2022, up 34.5% on 2021, with its major markets being China, Singapore, Malaysia, the Middle East, and Russia.

Bananas overtook mangos to become the second largest fruit in terms of exports, behind dragon fruit.

Vietnam has 154,000 hectares of bananas with an output of 2.3 million tons per year, according to the Department of Crop Production.

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