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Vietnamese Food Exports to the UK Maintain Robust Growth

Vietnamese Food Exports to the UK Maintain Robust Growth

12/18/2024
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Vietnamese Food Exports to the UK Maintain Robust Growth

by Geraldine S.
12/18/2024
in Trade Agreements

Vietnamese food exports to the UK have shown steady growth in recent years, driven by increasing demand for products such as frozen food, instant noodles, and rice-based dishes. Leading Vietnamese companies highlight the UK as a key market with significant potential.

Cholimex Food Joint Stock Company, a major producer of sauces, spices, and frozen food, reported annual export growth to the UK of 10-15%. According to export marketing supervisor Đào Thị Minh Diễm, the company primarily supplies frozen food to the UK, with Marks & Spencer as a key customer. “The UK accounts for the largest share of our frozen product sales, and prospects remain bright,” Diễm stated. Cholimex aims for a 15-25% growth target in key markets by 2025.

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Bình Tây Food Company, one of Vietnam’s largest food manufacturers, also identifies the UK as a vital export destination. Import-export manager Nguyễn Ngọc Bảo highlighted that exports account for 90% of the company’s revenue, with products such as instant noodles, phở, and mung bean vermicelli being popular in major global markets, including the UK. The UK contributes 20% of the company’s exports to Europe, with stable demand from existing customers.

“The UK-Việt Nam Free Trade Agreement has been instrumental in reducing tariffs and simplifying access to the UK market,” both Diễm and Bảo noted. They emphasized the agreement’s role in creating favorable conditions compared to non-FTA markets.

Experts suggest that with the rising popularity of Vietnamese foods like phở in the UK, exporters have opportunities to establish recognized brands and seek geographical indication protection for Vietnamese agri-food products.

Explore comprehensive supply chain news at The Supply Chain Report. Those interested in international trade can visit ADAMftd.com for free tools.

#VietnamExports #UKFoodMarket #GlobalTrade #FTAImpact #ExportGrowth

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