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Nov
15
Export of Vietnamese bananas to Russia soared
Friday, November 15, 2019


Market report of Agriculture, Forestry and Fisheries issued on November 1 of the Import-Export Department (Ministry of Industry and Trade) said that according to statistics from the International Trade Center (ITC), the variety of bananas was imported. Russia in the first 7 months of 2019 reached more than 920,000 tons, worth US $ 681.7 million.

This figure decreased by 3.8% in volume and by 4.7% in value over the same period in 2018. The average import price reached 739.9 USD / ton, down 0.9% compared to the first 7 months. 2018.

The share of imports from this market accounts for 98.1% of total Russian imports

Followed by other markets such as Colombia, Costa Rica, Mexico ... Notably, Russia increased imports of bananas from the Colombian market and Vietnam.

Specifically, imports from Colombia reached 6,100 tons, worth US $ 4.7 million, up to 196.4% in volume and up 210.3% in value. The average import price of banana products from this market reached 767.3 USD / ton, up 4.7% compared to the same period in 2018.

The average import price of bananas from Vietnam was the highest among other sources, reaching 1,971.5 USD / ton, up 4.8%. The proportion of imported bananas from Vietnam increased by 0.1 percentage points compared to the same period in 2018.

According to the Russian Ministry of Agriculture, bananas are one of the commodities that ASEAN member countries, including Vietnam, can increase export volume to the Russian market, thanks to taking advantage of opportunities from the food embargo. Russia has responded to US and European Union sanctions.

In addition, according to the Ministry of Industry and Trade with a large population, an increasing income per capita, Russia is considered a potential market for Vietnam's vegetables and fruits. In particular, bananas are one of the fruits that are growing fast to this market.

However, the proportion of imports from Vietnam is still too low compared to the import demand of Russia. This is an opportunity for businesses to export bananas to Russia in the near future, the Ministry of Industry and Trade said.

According to statistics from worldstopexports. com, Russia is the third largest import market for bananas in the world, after the US and Belgium. In 2018, the value of Russian banana imports reached US $ 1.2 billion, accounting for 7.4% of total global imports.

However, the proportion of imports from Vietnam is still too low compared to the import demand of Russia. This is an opportunity for businesses to export bananas to Russia in the near future, the Ministry of Industry and Trade said.

According to statistics from worldstopexports. com, Russia is the third largest import market for bananas in the world, after the US and Belgium. In 2018, the value of Russian banana imports reached US $ 1.2 billion, accounting for 7.4% of total global imports.

Russia is a fast growing banana import market from 2014 to 2018, with an average growth rate of 20.6%.









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