The agricultural sector in Vietnam is seeing an increase in exports of both vegetables and fruits. This is mostly due to increased consumption from China. This boom in exports, specifically for Vietnamese bananas has caused ripple effects in the Chinese market, resulting in an increase in the price of bananas from different Southeast Asian countries like the Philippines. The fierce competition and the differing preference for different sizes of bananas across China’s different regions has created an interesting interplay between market forces.

The abundance of Vietnamese agricultural products that are exported to China does not just affect prices but also reveals the distinctive characteristics of bananas that come from different Southeast Asian nations. The growth in exports has brought fresh life into Vietnam’s agricultural environment, however it also has highlighted Vietnam’s dependence to China. Chinese market. This dependency raises doubts regarding the viability of the growth in exports, in light of possible shifts in the dynamics of markets or trade policies. The Vietnamese business and the government have been pressured to keep this uptrend going and reduce the risk associated by relying on one market.

In the future the future is bright. Plans are being made to expand the Vietnamese agriculture industry. As an example, New Moon Agriculture is looking at expanding into Middle East and Russian markets. But the main focus is on improving the quality of its products and exploring markets that could increase the growth of Vietnam’s exports of vegetables and fruits. It is currently facing many difficulties and trying to find a balance between risk-management and expansion in order to ensure a long-term future on the international market.

Source: bnnbreaking.com