Hoang Anh Gia Lai (HAGL), a major Vietnamese agriculture firm, has doubled its durian farming area to 2,000 hectares in two years, driven by surging demand from China.
“I never dreamed of this day,” chairman Doan Nguyen Duc said during a tour of HAGL farms in Laos for 50 shareholders. The company also cultivates durians in Vietnam.
HAGL’s durian farm in Laos. Photo by Read/Dao Nguyen |
Duc acknowledged the challenges the firm has faced in reaching this milestone. HAGL initially focused on short-term crops for quick revenues before gradually expanding to long-term investments like durian.
The first durians are set to be harvested next year from 600 hectares. Their production is consulted by experts from Thailand, a major durian exporter.
“China needs seven to 10 years to meet its own durian demand if it grows on overseas land. This is why the next five years will be a golden opportunity for the company,” Duc said.
In addition to durian, HAGL has expanded its banana farming area by 40% to 7,000 hectares in two years.
Around 60% of its bananas are exported to China, while the remaining 40% are shipped to Japan and South Korea.
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HAGL bananas are exported to Japan. Photo by Read/Thi Ha |
HAGL is also scaling up its pig farming operations, aiming to raise 500,000 pigs by next year.
The company posted VND4 trillion in revenue in the first nine months, while its profit went up 20% year-on-year to VND831 billion.
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