Market diversification proves effective for fruit industry
20 tonnes of lychee are now being processed for export to the US by sea. If successful, this will be a new market, in addition to Japan. Many businesses believe that demand for fruit has begun to increase in many countries around the world.
The Vietnam Fruit and Vegetable Association said that the first half of the year saw exports total just over 1.5 billion USD, representing a year-on-year decline of 15%. While the Chinese market fell nearly 30%, others, such as the US, Japan, and Australia, increased sharply. This proves that market diversification is the proper strategy to pursue.
According to experts, demand for fruit in high-end markets is huge but Vietnam is yet to fully tap into them. Products must meet strict regulations on pesticide residue to enter such markets. The growing area of fruit trees under Global Gap standards is expanding but not keeping pace with demand.
Experts also said that global supply is plentiful at this time, which is not favourable for Vietnamese fruit in terms of competition. Now is the time for the fruit industry to make sound preparations for shipping products of high quality to ensure output and price when markets reopen.