Vietnam exported 1,700 tonnes of mango to South Korea for $7.4 million over the past 11 months of 2022, up 19% in volume and 25% in value year-on-year, according to the Agency for Foreign Trade under the Ministry of Industry and Trade.
These figures helped Vietnam become the third largest mango supplier for the South Korea in the period, the agency said, adding that the average export price of Vietnamese mangoes hit over $4,230 per tonne, 5% higher than that of the same period in 2021.
The agency also cited statistics from the Korea International Trade Association (KITA) as saying that this country’s mango import in the 11-month period reached 22,000 tonnes, worth $95.3 million, marking yearly rises of 4% in volume and 8% in value.
Thailand and Peru were the two largest mango suppliers for the South Korea in the period, accounting for 81.2% of this country’s total mango imports.
According to the department, Korea has a high demand for fresh fruit. Each year, the market imports over $1.6 billion worth of fresh fruit and this number has been growing significantly.
However, Vietnam’s fresh fruit now makes up a very modest market share in the South Korea. Therefore, there remains room for Vietnamese firms to foster their exports of fresh fruits, typically mangoes to this market.
In order to promote exports to this market, trade experts recommend that businesses needed to improve their competitiveness and product quality. This was the core element to meet the increasingly strict requirements of the Korean market.
In addition, enterprises were advised to develop appropriate production and business plans, actively operate according to the market mechanism and have solutions to participate in the production chain and distribution network of Korean enterprises. That would help businesses take advantage of their strengths, their brand, as well as their development experience in the market.