Imported fruit prices plummet on burgeoning supply
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Imported kiwis, apples, pomegranates, and pears only cost a few tens of thousands of dong (VND24,000=US$1) per kilogram, or a fifth of the prices two years ago.
Hanh, a seller of imported fruits on Bach Dang Street in HCMC’s Binh Thanh District, said golden kiwi imported from New Zealand is selling at VND200,000 ($8.21) per box of 3.5 kilograms, or VND57,000 per kilogram.
For those buying more than 10 boxes, the price comes down to VND160,000. “This price is down 15% from a year ago,” she said.
Imported pomegranate and pear are also becoming cheaper, she said.
Chinese and Tunisian pomegranates currently sell for VND60,000-70,000 and VND35,000-50,000 per kilogram.
In 2021, imports from the North African country had cost up to VND250,000.
First-grade pears imported from South Korea are sold for VND60,000-80,000 per kilogram, and second-grade varieties for VND30,000-40,000, the lowest prices ever.
The prices of apples imported from New Zealand have also dropped sharply to VND40,000-60,000 per kilogram.
Envy apples, the most expensive imports along with Japanese apples, cost VND200,000-350,000 two or three years ago, but only VND70,000-110,000 now.
Thanh, who sells imported fruits at the Thu Duc wholesale market in HCMC, said prices have declined because supply is abundant while demand has not gone up much.
India and New Zealand have recently sought to export more fruits to Vietnam, and so their prices are attractive, he said.
Recent deals between Vietnam and China have helped Chinese fruits enter the Vietnamese market easier and at lower prices than before.
Dang Phuc Nguyen, general secretary of the Vietnam Fruit and Vegetable Association, said the country’s accession to free trade agreements has brought down import taxes on fruits and vegetables virtually to zero.
According to statistics from the General Department of Vietnam Customs, the country imported fruits and vegetables worth $1.6 billion in the first 10 months of this year.
Imports of fruits at low prices from countries such as India, New Zealand and South Korea were up 4-62% year-on-year.
Questions & Answers
Q.Which specific countries are identified as increasing their fruit exports to Vietnam, contributing to lower prices?
Which specific countries are identified as increasing their fruit exports to Vietnam, contributing to lower prices?
India and New Zealand have recently sought to export more fruits to Vietnam, making their prices attractive. Deals between Vietnam and China have also helped Chinese fruits enter the market more easily and cheaply.
Q.What is the primary reason given for the decline in imported fruit prices, aside from increased supply?
What is the primary reason given for the decline in imported fruit prices, aside from increased supply?
The general secretary of the Vietnam Fruit and Vegetable Association states that Vietnam's accession to free trade agreements has brought import taxes on fruits and vegetables down almost to zero.
Q.How have the prices of expensive apple varieties changed over the last few years?
How have the prices of expensive apple varieties changed over the last few years?
Envy apples, along with Japanese apples, cost VND200,000-350,000 two or three years ago. They now sell for VND70,000-110,000 per kilogram, representing a significant drop.
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