Vietnamese markets flooded with foreign fruit

By Toan Dao   September 4, 2016 | 11:08 am GMT+7
Vietnamese markets flooded with foreign fruit
Illustrative photo by the Voice of Vietnam

Zero percent import duties have taken a bite out of the domestic market.

Vietnam's fruit imports skyrocketed  in the first seven months of the year following a series of free agreements that have slashed import duties.

Fruit imports cost the country $420.74 million in the first seven months, jumping 36.4 percent on-year, the Voice of Vietnam reported on Sunday, quoting data from the Ministry of Industry and Trade.

Thailand was the country's main supplier in that period with import value of $163 million, up 70 percent on-year, followed by China with $102.52 million (up nearly 30 percent), and the U.S. $41.2 million. Notably, imports from Australia surged 212 percent to $24.6 million.

According to Lang Son Province's Customs Department, Vietnam imported 4,800 tons of small mangoes through Lang Son’s Tan Thanh Border Gate with China from February 1-August 1 this year. The declared import price at Tan Thanh was around $160/ton or VND3,600 (16 cents)/kg, but the fruit was sold for up to VND35,000/kg in Ho Chi Minh City.

Vietnam has abolished import taxes for most fruit from China and ASEAN nations under the ASEAN-China FTA and the ASEAN Trade in Goods Agreement.

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