Vietnamese Durian and Coffee Farmers See Unprecedented Profits in 2023

In 2023, the high prices of durian, coffee, and rice in Vietnam brought significant profits to farmers in the Central Highlands and the Mekong Delta. Durian farmers in Can Tho reported a bumper harvest last year, with prices reaching up to VND140,000 per kilogram at times. The high demand continues through 2024, with many gardens in the Mekong Delta harvesting off-season durians for export to China, where people use them as gifts for the Lunar New Year holiday.

Cuong, a garden owner in Dak Lak province, reported earning VND120 billion after harvesting 40 hectares of durians. Dak Lak Province earned about VND12,000 billion after harvesting 200,000 tons of durians. Coffee also brought huge revenue and helped farmers “change their lives” last year, with a highest-ever selling price of VND76 million per ton, earning over VND530 million.

The Vietnam Fruit and Vegetable Association Secretary-General Dang Phuc Nguyen said 2023 was the brightest year for the export picture of the agricultural sector, with the export value of agriculture, forestry, and fisheries exceeding US$53 billion. Some agricultural products set historic peaks, including fruits and vegetables exports, which surged 70% year-on-year, bringing in more than $5.6 billion. Rice exports also increased by more than 36% in value.

China is the largest import market for many Vietnamese agricultural products, with durians alone accounting for more than $2 billion. Other agricultural products have been officially exported to this market, such as bird’s nests, sweet potatoes, dragon fruits, longans, rambutans, mangoes, jackfruits, and watermelons.

The Ministry of Agriculture & Rural Development’s 2024 forecast suggests that Vietnamese agricultural products will continue to achieve many successes due to the U.S., China, and many Middle Eastern countries favoring Vietnamese agricultural products. El Nino is expected to reduce the global food supply, presenting an opportunity for Vietnamese agricultural products like rice, durian, and coffee.

However, the export of agricultural products also poses challenges that require solutions from authorities. Minister of Agriculture & Rural Development Le Minh Hoan stated that authorities, associations, and businesses need to engage with farmers from the beginning to provide them with enough information to adjust production. The ministry will make it mandatory for farmers to comply soon to avoid the situation of spontaneous agricultural development.

Read More @ Retail News Asia

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