Vietnam: Plum And Sloe Market 2024

Plum And Sloe Exports

Exports from Vietnam

After two years of decline, shipments abroad of plums and sloes increased by 35% to X tons in 2022. Overall, exports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 162% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, plum and sloe exports skyrocketed to $X in 2022. Over the period under review, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2019 when exports increased by 143%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Hong Kong SAR (X tons) was the main destination for plum and sloe exports from Vietnam, with a 65% share of total exports. Moreover, plum and sloe exports to Hong Kong SAR exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), threefold. The third position in this ranking was held by Singapore (X tons), with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Hong Kong SAR totaled +14.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+35.7% per year) and Singapore (+30.5% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for plums and sloes exports from Vietnam, comprising 64% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 23% share of total exports. It was followed by Singapore, with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Hong Kong SAR amounted to +17.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+30.5% per year) and Singapore (+15.0% per year).

Export Prices by Country

The average plum and sloe export price stood at $X per ton in 2022, declining by -4.4% against the previous year. Over the period under review, the export price saw a perceptible decline. The pace of growth was the most pronounced in 2021 when the average export price increased by 7.5% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Norway ($X per ton) and the United Arab Emirates ($X per ton), while the average price for exports to Hong Kong SAR ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+2.7%), while the prices for the other major destinations experienced a decline.

Plum And Sloe Imports

Imports into Vietnam

After two years of growth, purchases abroad of plums and sloes decreased by -24.9% to X tons in 2022. Overall, imports saw a dramatic curtailment. The growth pace was the most rapid in 2018 with an increase of 9,762%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, plum and sloe imports shrank significantly to $X in 2022. Over the period under review, imports saw a abrupt decrease. The most prominent rate of growth was recorded in 2018 when imports increased by 8,063% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) was the main plum and sloe supplier to Vietnam, with a 91% share of total imports. Moreover, plum and sloe imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -15.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-17.6% per year) and Australia (-22.6% per year).

In value terms, China ($X) constituted the largest supplier of plums and sloes to Vietnam, comprising 88% of total imports. The second position in the ranking was held by the United States ($X), with a 3.8% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at -14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-16.6% per year) and Australia (-20.7% per year).

Import Prices by Country

In 2022, the average plum and sloe import price amounted to $X per ton, leveling off at the previous year. Overall, import price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +8.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plum and sloe import price decreased by -0.2% against 2020 indices. The pace of growth was the most pronounced in 2013 when the average import price increased by 82% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Australia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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