Chinese market reopening brings opportunities for Vietnamese agricultural products

Vietnamese companies, especially those in the agricultural sector, are well prepared for the opportunities presented by the fully opened Chinese market on January 8.

Commodities such as rice, fruits, shrimps and fish are expected to grow strongly again after China’s full opening. In Binh Thuan province, the dragon fruit capital of Vietnam, several traders recently bought white flesh dragon fruit at VND16,000 per kilogram and first grade fruit at up to VND21,000 per kilogram.

Nguyen Trai Thuan, manager of Ho Chi Minh City Dragon Fruit Tea Company, excitedly introduced that the overall dragon fruit is now moving faster. Since China opened the border crossing and lifted quarantine barriers, our company has switched all sea transport to land transport to shorten the time to market. The outlook for businesses in the fruit industry is more optimistic.

The Jiulong River Delta region is in the midst of a variety of fruit harvests. The most “popular” fruit is durian, a product with strong consumption and growth in the Chinese market.

Le Minh Son, manager of Tien Giang Province’s Son Son Agricultural Products Trading Co., Ltd. said that the export price of durian (with planting area number) has been rising in recent times.

Shrimp is also one of the food products that are consumed by Chinese people during the Chinese New Year. Nguyen Thi Anh Thu, manager of Thanh Nien General Trading Aquatic Company, said that the price of lobster in the farming area has not yet increased, but the company has started to implement the contract signed with Chinese customers. In addition, the company has signed a contract to export crabs from Ca Mau and delivered the first shipment for customers’ evaluation.

At this time, Chinese companies are increasing the import of black tiger shrimp because of the Chinese New Year preparation, said Tran Anh Co, General Manager of Ang Co Ltd. in Ca Mau Province. The purchasing power of the domestic market is also gradually increasing.

Source: Vietnam People’s Daily Online

Post time: Jan-17-2023