Vietnam enjoys export potential to Turkish market

 

Despite the complicated developments of the COVID-19 pandemic, agricultural exports are seeing bright signs, with Turkey emerging as a potential market for Vietnam, according to insiders.

Data from the Turkish Statistical Institute (TUIK) show that in the first half of 2021, Vietnam accounts for 94 percent of the market share of cashew imported to Turkey with 4,607 tonnes, bagging 16.47 million USD.

Moreover, the export price of Vietnam's cashew nuts in recent months has decreased compared to the beginning of this year, which has partly helped boost the amount of the product exported to Turkey and occupied a lion's share despite the increasing cost of transportation. The export of Vietnam's pepper to in the Turkish market also recorded a significant growth.

Vietnam keeps the position of the largest exporter of pepper with 2,236.3 tonnes to Turkey for more than 4.32 million USD, occupying nearly 60 percent of the market share in the first 6 months of 2021.

It is currently ranked 4th in terms of export turnover of natural rubber products, accounting for 11.7 percent of the export market share to Turkey.

This shows that the rubber importers of Turkey have gradually paid more attention to this product of Vietnam instead of that from Indonesia or Thailand. The main reason is that the price and quality of Vietnamese product are gradually gaining a competitive advantage over other competitors. Some other Vietnamese exports having strengths and opportunities to penetrate the Turkish market include rice, tea, and seafood.

The Vietnam Trade Office in Turkey recommends that the Government continue to encourage domestic enterprises to participate in trade promotion programmes and fairs in Turkey so as to seek cooperation opportunities with Turkish cashew processing and distribution enterprises./.