Recently, Hoang Anh Gia Lai Corporation (HAGL) announced its business results for the first 2 months of the year with revenue of VND 1,043 billion. The revenue from fruit trees (bananas) reached VND 630 billion, of which, HAGL sold 74,459 tons of bananas. Thus, the enterprise earns VND 10.5 billion in revenue per day from banana sales.
According to HAGL, the increase in revenue from the fruit tree sector is due to the company expanding its cultivation area, resulting in higher banana production, up 55% compared to the same period.
Bananas are currently one of the fruit exports that brings in a large value for Vietnam. According to statistics from the General Department of Customs, banana exports brought in USD 41.1 million in December 2023, up 31.6% compared to the same period. Overall in 2023, Vietnam exported nearly USD 308 million worth of bananas, up 1.3% compared to the same period. This product accounted for 7.6% of Vietnam’s total fruit export revenue in 2023, ranking only behind durian and dragon fruit.
Not only the fruit, but banana leaves are also favored by many countries around the world. In 2023, our country earned over USD 1.16 million from this product, accounting for 13% of Vietnam’s total leaf export revenue.
Immediately after Tet Nguyen Dan 2024, the price of bananas purchased by traders at the garden for farmers ranged from 7-9 thousand VND/kg, bringing good profits to banana growers.
The reason is that the demand for this product in the Chinese market increased sharply after Tet Nguyen Dan 2024, leading to continuously rising domestic banana prices. On the other hand, at this time, the banana supply is not as abundant as before. Meanwhile, before Tet Nguyen Dan 2024, the price of bananas dropped significantly, at times as low as 1-2 thousand VND/kg, making it difficult for banana growers to sell their products due to difficulties in exporting.
China tends to increase banana imports from the Vietnamese market due to its favorable geographical position. Besides, China’s banana cultivation area has decreased due to increasing input costs for agricultural materials, land lease costs, and labor costs, while the appearance of diseases has made this plant less effective. This is also the leading export market of Hoang Anh Gia Lai Corporation.
In addition, the opportunity to export bananas to the Chinese market has become more open when the Protocol on the Official Export of Fresh Bananas from Vietnam to China was signed in November 2022. This means that Vietnamese fresh bananas have obtained the permit to enter China and are increasingly gaining a place in the fruit consumption chain of this country.
In our country, bananas account for 19% of the total area of fruit trees in Vietnam each year, with about 155 thousand ha of banana cultivation and an output of nearly 2.5 million tons per year.
Bananas are very nutritious, containing high amounts of fiber, potassium, vitamins, and carbohydrates, which are a very good natural source of energy for the body. Moreover, bananas are known as the first “superfood” and have been confirmed by the American Medical Association at the beginning of the 20th century as a healthy food for children and a treatment for celiac disease. Besides, this fruit is also known as the “fruit of happiness” due to its richness in nutrients and its ability to reduce pressure and relieve stress.
