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Tag: domination

  • Vietnam’s Durian Domination: Record-Breaking $3.8B Exports Propel Fruit to Top of Global Market

    Vietnam’s Durian Domination: Record-Breaking $3.8B Exports Propel Fruit to Top of Global Market

    Vietnam’s durian exports reached a new high last year, with the total value reaching US$3.86 billion. This figure is more than 20% higher than the previous year’s record, making durian the most significant export among all fruits and vegetables from Vietnam. The country’s customs data reveal that durian exports contributed over 45% to the total value of $8.56 billion.

    Other Top Fruit and Vegetable Exports

    Durian was not the only fruit of note in Vietnam’s export list. Fresh coconuts registered an impressive growth rate of 36.6%, although the total export value of $534 million placed it far behind durian. Dragon fruit, another significant export, earned $526 million, despite a slight decrease in its export value.

    Adaptation to Market Requirements Spurs Growth

    According to Dang Phuc Nguyen, General Secretary of the Vietnam Fruits & Vegetables Association, the increase in durian exports is due to Vietnamese businesses’ ability to meet stricter quality standards and other conditions set by some markets. However, he emphasized the importance of consistent quality control and market expansion for sustained growth.

    China – The Largest Market for Vietnam’s Durian Exports

    China continues to be the most significant market for Vietnam’s durian exports, a position strengthened by agreements signed last year permitting the export of frozen durians and fresh coconuts from Vietnam. In addition to China, shipments to the United States, Japan, South Korea, and Europe also experienced substantial growth. Looking ahead, the association anticipates fruit and vegetable exports to reach between $9 and $10 billion this year.

    Questions & Answers

    What was the total value of Vietnam’s durian exports last year?

    The total value of Vietnam’s durian exports last year was US$3.86 billion.

    What contributed to the growth of durian exports from Vietnam?

    The growth in durian exports from Vietnam is attributed to businesses’ ability to adapt to stricter quality standards and other conditions imposed by some markets.

    Which countries are the largest markets for Vietnam’s durian exports?

    China is the largest market for Vietnam’s durian exports, followed by the United States, Japan, South Korea, and Europe.

  • Vietnam’s Durian Domination: Record-Breaking Exports Propel Agriculture to New Heights

    Vietnam’s Durian Domination: Record-Breaking Exports Propel Agriculture to New Heights

    In the first ten months of the current year, Vietnam experienced an unprecedented surge in durian exports, reaching a historic high of US$3.3 billion. This represents a 10.4% increase year-on-year. Vietnam Customs data shows that durian exports continue to play a dominant role in the nation’s agricultural export revenue.

    China: The Main Market for Vietnamese Durians

    A staggering 94% of all durian exports, equivalent to $3.14 billion, were shipped to China, marking a 14% increase year-on-year.

    Dang Phuc Nguyen, the General Secretary of the Vietnam Fruit and Vegetable Association, reported that Vietnamese durian exports have been experiencing robust growth despite stricter inspections by Chinese authorities for banned substances. This growth, he suggested, is attributed to the improved quality and competitive pricing of Vietnamese durians.

    On average, the export price for a ton of durian was $3,696, approximately 15% less than the price for Thai durians. This makes Vietnam the second largest durian exporter to China, following Thailand.

    Improvements and Investments in Quality Control

    In response to China’s tighter quality standards, many Vietnamese exporters have made considerable investments in cold storage and packaging facilities and have also taken steps to establish their own brands.

    The Ministry of Agriculture and Environment has responded by implementing a quality control process specifically for durian.

    Other Markets for Vietnamese Durians

    Apart from China, other markets have also demonstrated strong growth in their imports of Vietnamese durians. Hong Kong, for instance, increased its imports by nearly 89%, equating to over $45 million. Other countries including Papua New Guinea, Malaysia, Japan, and Canada have also notably increased their purchases of this fruit.

    Analysts’ Warnings

    Despite the remarkable figures, analysts have cautioned Vietnam against becoming too dependent on one single product like durian, which currently constitutes over half of its fruit and vegetable exports.

    In order to maintain growth and solidify its position in major markets, experts suggest that the nation’s agricultural sector diversify its products, enhance cold-chain systems, and implement stricter quarantine and storage quality standards.

    Nguyen remains optimistic about the future of durian exports, projecting that, given current growth trends and positive indications, they could reach a record-breaking $4 billion this year.

    Questions & Answers

    What was the value of Vietnam’s durian exports in the first ten months of this year?
    The value of Vietnam’s durian exports in the first ten months of this year was a historic US$3.3 billion.

    Who is the primary purchaser of Vietnamese durian?
    China is the primary purchaser of Vietnamese durian, accounting for 94% of all exports.

    What are analysts’ recommendations to sustain the growth of Vietnam’s agricultural sector?
    Analysts recommend that the agricultural sector diversify its products, improve its cold-chain systems, and enforce stricter quarantine and storage quality standards to sustain growth.

  • “Pomelo’s Fashion Revolution: Partnering with FJ Benjamin for Malaysian Market Domination”

    “Pomelo’s Fashion Revolution: Partnering with FJ Benjamin for Malaysian Market Domination”

    The Thailand-based fashion label Pomelo recently entered into an exclusive distribution agreement with FJ Benjamin for operations in Malaysia. The arrangement, set to last an initial five years with an option for a five-year extension, provides FJ Benjamin with the authority to oversee the brand’s operations and store management within the country.

    Online Launch and Physical Stores

    Pomelo plans to make its initial foray into the Malaysian market via e-commerce marketplaces before the year’s end. This digital debut will be followed by the opening of physical stores within major shopping centres in Kuala Lumpur in the early part of next year.

    Collaborative Effort

    David Jou, CEO of Pomelo, highlighted the collaboration’s potential, combining Pomelo’s digital-first fashion and technology-driven retail model with FJ Benjamin’s extensive expertise in brand development and retail operations. He sees this partnership as an opportunity to reshape the fashion retail experience not just in Malaysia, but beyond its borders as well.

    Expansion of Pomelo

    Earlier this year, Pomelo expanded its reach by entering an exclusive distribution agreement with the Kolao Group, marking its first store opening in Laos. In addition to its home base of Thailand, Pomelo has a presence in Singapore, Indonesia, Cambodia, and the Philippines, and plans are underway for a future debut in Vietnam.

    Pomelo, founded in 2013, has carved out a niche for itself as a leading destination offering a curated selection of women’s wear that includes both emerging local designers and international brands. The company had projected an initial public offering (IPO) in 2022, but this plan has not yet been actualised.

    Questions & Answers

    What are Pomelo’s plans for entering the Malaysian market?
    Pomelo plans to launch online on e-commerce platforms before the end of this year, followed by the opening of physical stores within key shopping centres in Kuala Lumpur in the early part of next year.

    What does the partnership with FJ Benjamin entail?
    The partnership gives FJ Benjamin the authority to manage Pomelo’s operations and stores in Malaysia for an initial five-year term, with an option to extend for another five years.

    Where else does Pomelo operate?
    In addition to Thailand, Pomelo operates in Singapore, Indonesia, Cambodia, the Philippines, and Laos, with plans to debut in Vietnam in the future.