[NEWS] – What are the opportunities for Vietnamese agricultural products to penetrate the Thai market?

In recent times, Thai consumers are tending to use healthy foods. This is an opportunity for Vietnamese fruits and foods to penetrate this "agricultural powerhouse" in Southeast Asia.

The situation of exporting Vietnamese agricultural products to Thailand

In 2020, Thailand imported more than $2.6 billion worth of fresh and processed vegetables. Meanwhile, Vietnam has many strong products that Thailand cannot compete with, such as litchi and dragon fruit. Many Thai businesses have imported dragon fruit and litchi from Vietnam to sell in supermarket systems. In addition, Thai enterprises also import agricultural raw materials and bring them to Thailand for processing.

Over the past 16 years, two-way trade turnover reached the highest value in 2018 at 18.61 billion USD, mainly due to import turnover from Thailand. In 2019 and 2020, due to the impact of the drought in Thailand and the COVID-19 epidemic, the two-way trade turnover decreased, especially for Vietnam’s import turnover from the Thai market. . The trade balance between Vietnam and Thailand in recent years has always been in an unbalanced state with the deficit in favor of Vietnam.

What opportunities for Vietnamese agricultural products?

New prospects open up as Thai consumption trends change and the professionalism of Vietnamese businesses improves year by year. Vietnam’s opportunity is that Thai people are increasingly interested in health products.

Currently, supermarkets in Thailand tend to sell healthy products, but products that directly compete with Vietnamese products are not available. In addition, unique products that Thailand lacks or does not have are also more likely to have the opportunity to penetrate. Grape seaweed powder or macadamia nuts are examples.

In addition, how wide the door to the Thai market depends on the professionalism of those businesses, from quality to packaging and the readiness of necessary technical standards. Therefore, names with international export experience will have many opportunities.

Although they have conquered some remote and difficult markets, some manufacturers believe that the Thai market is still very important. Meeting with Thai buyers will help their products have the potential to be connected to other international markets.

Opportunities are coming, challenges are also gradually being solved, it must be noted that Vietnamese enterprises research more processed products, promoting available confidence. In addition, finding importers or having problems with export procedures is also a problem for Vietnamese exporters.

Indochina Holdings with the service "Trade promotion" will help Vietnamese businesses solve those problems. With a professional team, Indochina Holdings always listens and gives the right strategy in line with the orientation of the business. Typically, Ngon Nhat Rice Company, as one of the partners, successfully exported ST25 rice to the US market.

Source: Collector