[Market News] Why have prices of many exported agricultural products increased to record levels?

Many types of Vietnamese exported fruits have recently increased in price sharply. According to records, durian is the fruit with the highest price increase. Currently, each kilogram of Monthong type A durian costs 218,000-230,000 VND per kg, type B costs 195,000-200,000 VND, and type C is over 100,000 VND per kg. This price increased by 15% compared to the same period and previous month.

Many types of Vietnamese exported fruits have recently increased in price sharply. According to records, durian is the fruit with the highest price increase. Currently, each kilogram of Monthong type A durian costs 218,000-230,000 VND per kg, type B costs 195,000-200,000 VND, and type C is over 100,000 VND per kg. This price increased by 15% compared to the same period and previous month.

The actual developments of the coffee market are much more exciting. Coffee price today, April 23, 2024, averaged at 127,300 VND/kg, a sharp increase of +1,000 compared to the previous day. This week, domestic coffee prices increased by 7,000 VND/kg.

Many experts and businesses believe that the prices of some agricultural products have increased “beyond all imagination”. The reason for the growth is partly due to increased world market demand, especially for coffee products.

Soaring exports also pushed prices of agricultural products to continuously peak. The factor contributing significantly to the high export prices of many products is that the quality of Vietnamese agricultural products is increasingly improving, meeting the diverse requirements of many countries and regions.

Mr. Dang Phuc Nguyen, General Secretary of the Vietnam Fruit and Vegetable Association, said that exporting durian to the Chinese market is very favorable. In the first two months of the year, we exported nearly 33,000 tons of durian to the world’s most populous market.

“Currently, China’s consumption demand is very large. In 2022, it will be about 4 billion USD, this year it can be up to 6 billion USD. It is forecasted that in the coming years, China can import up to nearly 20 billion USD. Vietnam’s durian exports will still be valuable in 20 years, the export market is still very good and the Chinese market alone is ready to cover the entire Southeast Asia region,” Mr. Nguyen shared.

Also according to Mr. Nguyen, Vietnam has a very competitive advantage in logistics with fast shipping times and low costs. Reducing logistics costs will promote exports, thereby improving the competitiveness of Vietnamese goods.

“Vietnam has a lot of advantages in road logistics, very convenient seaports, fast shipping times, low costs… Along with that, the Ministry of Transport is speeding up the construction progress of the North-South expressway, which will help make costs cheaper, time faster, making agricultural goods more competitive compared to other countries,” Mr. Nguyen added.

According to Ngoc Hoa- Vietnam Economy