Durian prices hit record high as demand surges
The reason for the high price of durian is that durian is still off-season and supply is low. Meanwhile, strong demand is coming from the Chinese market as well as domestic markets.
Huynh Tan Loc, director of the Ngu Hiep Durian Co-operative in Tien Giang Province’s Cai Lay District, said the prices of the fruit have increased sharply since the beginning of this year.
The country’s largest durian producing province has more than 17,000ha of the fruit, mostly in the Cai Lay, Cai Be and Chau Thanh districts and Cai Lay Town.
The orchards have an average yield of 20-25 tonnes per hectare and farmers harvesting now can earn VND1-1.5 billion ($43,000-64,000) per hectare, the highest of any speciality fruit, according to the provincial Department of Agriculture and Rural Development.
But their output is not large because it is the off-season, it said.
Tran Minh Kha, a trader from Can Tho City, said after a week of buying durian in Tien Giang, he still did not have enough quantity to meet demand as the price of his inventory continued to increase every few days.
Nguyen Thi Hanh, a trader from HCM City, said that she has had to pay a commission fee for brokers who can help her buy durian.
"This is the first time I pay commissions for brokers. However, there are still not enough durians to supply my partners," she said.
Every day, she can only buy about 16-17 tonnes of durian while the demand is up to hundreds of tonnes, Hanh said.
In 2022, durian export turnover was at nearly $400 million, and of that, $300 million to China.
According to the Viet Nam Fruit and Vegetable Association, Vietnamese durian has many competitive advantages in the Chinese market. Both Thailand and Philippine durian exports are seasonal, while Vietnamese durians have year-round exports.
In addition, the distance to transport durian from Vietnam to China only takes about one and a half days, which ensures fresh fruit and cheaper shipping costs than competitors' goods.
Currently, the price of Vietnamese durian sold in China is still much cheaper than Thailand and the Philippines durian, so it is popular with the majority of people in this country.
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