HAGL bananas now available in China

Illustrative image (Source: baomoi)

Supermarkets in Beijing, Shanghai, Chengdu, Zhejiang, and Dalian now stocking bananas from Hoang Anh Gia Lai Group.

After two months of harvesting, bananas from the Hoang Anh Gia Lai (HAGL) Group are now being sold at many large supermarket chains in Chinese cities such as Beijing, Shanghai, Chengdu, Zhejiang, and Dalian through partners such as Dechang Fruit and Tai He Fruit.

The quality of HAGL’s bananas are favored by Chinese consumers and are being sold at prices equal to those imported from the Philippines.

The group’s Cambodian partners have also begun selling its bananas at supermarkets in the country’s capital of Phnom Penh. In Vietnam, the Bach Hoa Xanh supermarket network, belonging to the Mobile World Corporation (MWG), now sells 2 tons of HAGL bananas each day; double the figure of just a month ago.

As at June, HAGL had planted more than 2,800 ha of bananas in a number of orchards in Vietnam, Laos, and Cambodia. The first crop can be harvested nine months after planting and then every six months. HAGL is now harvesting its first crop, on an area of 1,000 ha, which is expected to produce 50,000 tons for export.

More than 2,800 ha of planted bananas will yield two crops next year, with a dramatic increase to be seen in exports compared to this year.

With advantages from such a large scale, a regular supply, and stable quality that meets Global GAP standards, many major importers in China, Japan, South Korea, Thailand, and Canada are seeking to sign large and long-term purchasing orders for HAGL’s bananas.

To ensure quality continues to meet export standards, HAGL has been expanding its investment in cold storage systems and working with shipping companies to increase export volumes.

At the same time, the group is preparing a private share placement to increase its capital, in order to accelerate investments in improving its cold storage systems and expanding growing areas to meet new export orders.