 Home > News > Market Flash > Vietnam became the third largest mango supply market in South Korea

Vietnam became the third largest mango supply market in South Korea

 foodmate 2023-01-04

Thailand and Peru were South Korea's two largest mango supply markets in the first 11 months of 2022, accounting for 81.2% of South Korea's total imports of mangoes from these two markets. South Korea has huge demand for fresh fruit imports, with an annual import value of more than $1.6 billion, and continues to grow strongly. However, fresh fruits in Vietnam account for a smaller market share in this market.

South Korea is a market with strong purchasing power, with an annual per capita income of more than $30,000 and imports averaging about $700 billion a year. Therefore, the export potential of Vietnamese mangoes and other products to this market is very large.

In the first 11 months of 2022, Vietnam was South Korea's third-largest mango supply market, with exports of 17,000 tons and an export value of US$7.4 million, according to the Import and Export Bureau of the Ministry of Industry and Trade. The export volume and export value increased by 19.1% and 24.8% year-on-year, respectively. The average export price of mangoes in Vietnam was US$4,232.3 per tonne, an increase of 4.7% over the same period in 2021.

Statistics show that more than 6 years after the implementation of the Vietnam-Korea Free Trade Agreement (VKFTA), bilateral trade between Vietnam and South Korea has continued to grow strongly. Bilateral trade reached US$78.2 billion in 2021, more than double the size in 2015 (US$36.5 billion); Among them, Vietnam's exports to South Korea reached US$21.9 billion in 2021, 2.4 times that of US$8.9 billion in 2015.

In the first 11 months of 2022, Vietnam's exports to South Korea reached US$22.5 billion, an increase of 13.4% over the same period in 2021. If this rate of growth is maintained, the two countries are likely to achieve their goal of $100 billion in trade by the end of 2023.

In order to promote exports to this market, trade experts suggest that companies need to improve competitiveness and product quality. This is a core element in meeting the increasingly stringent requirements of the Korean market.

In addition, enterprises should formulate corresponding production and operation plans and actively operate in accordance with market mechanisms; Interconnected and have solutions that participate in the production chain and distribution network of Korean enterprises.

food&nutrition trend

 Disclaimer: ECHEMI reserves the right of final explanation and revision for all the information.

Highly pathogenic avian influenza of the H5N1 subtype was identified in Valparaíso, Chile

There will be huge growth opportunities for Vietnam's agricultural products in 2023

Comment

Comment

You May Interested In

buy MT1 High Purity Melanotan Factory direct sales, door-to-door delivery

Factory Supply Retatrutide Peptide Lyophilized Vial 20mg Custom Lab Research Cosmetic Raw Material Bulk Wholesale With Independent Test

$55/BOU FOB

Silk Road Trading Co.,Ltd





Popular Tags

Daily Morning Brief

2026-10-18

Bank of Canada Sees Sharply Higher Inflation Outlook as Oil Surges, Macklem Says

Bank of Canada Sees Higher Oil Prices Boosting Growth, Inflation

Indian State Food Safety Authority Names Blinkit, Reliance Executives in Expired Food Probe

Oil Trader Yaoyao Liu Leaving Vitol After Generating Billions

Greenpeace activists occupy Woodside gas project unit off Western Australia

View All

Trade Alert

Delivering the latest product trends and industry news straight to your inbox.
(We'll never share your email address with a third-party.)

Recommend Reading

Hot Searches: boron trifluorid; di ammonium phosphate price; retatrutide prices; 1 penten 3 one; amoxicillin potassium clavulanate info; 9-me-bc for sale; 13x zeolite; retatrutide peptides where to buy; chemical compound of acetone; buy reta peptide; peptide retatrutide where to buy; retatrutide pricing



Feedback & Suggestions

Send Message

Thank you for your feedback. If you require further assistance, please contact us by email at info@echemi.com or call us at +86-532-55729510.

Vietnam became the third largest mango supply market in South Korea

Highly pathogenic avian influenza of the H5N1 subtype was identified in Valparaíso, Chile

There will be huge growth opportunities for Vietnam's agricultural products in 2023

You May Interested In

MT1 High Purity Melanotan Factory direct sales, door-to-door delivery

High Stability Selank Peptide Raw Powder for Scientific Researc

High Quality β-Nicotinamide adenine dinucleotide CAS 53-84-9 NADwith ready stock and best price

Research Grade RT Retatrutide Peptide Raw Material 99% Purity Lab Experiment Sample Only

GHK-Cu Copper Peptide Lyophilized Powder Cosmetic Formulation Raw Material Factory

Factory Supply Retatrutide Peptide Lyophilized Vial 20mg Custom Lab Research Cosmetic Raw Material Bulk Wholesale With Independent Test

Related News

Recommend Reading