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|US Ambassador Kritenbrink and representatives from Lotte Mart and the Food Export Association of the Midwest USA cut the ribbon|
On September 18, US Ambassador Daniel J. Kritenbrink kicked off the US Food Fair at Lotte Mart. The event included cooking demonstrations, food sampling, and interactive displays where Vietnamese consumers can learn more about US food and beverages.
The US Food Fair is a collaboration between the US Embassy, the US Department of Agriculture, Food Export Midwest, and Lotte Mart. This year, the US and Vietnam celebrate 25 years of diplomatic relations. Food and agricultural trade is an important part of bilateral relations, with agricultural trade turnover of nearly $8 billion in 2019. 25 years after the establishment of diplomatic relations, consumers in both countries have reliable access to a diverse selection of food products from the other country.
Vietnam’s retail food sector continues to develop and show excellent growth potential. According to the General Statistics Office of Vietnam (GSO), total food and beverage retail sales in 2019 were estimated at $51 billion, a 13 per cent increase over the previous year, with modern retail food channels accounting for approximately 14 per cent of the total.
Strong economic growth, increasing foreign investment, a growing middle class with higher disposable income, rapid urbanisation, and heightened concerns about hygiene and food safety continue to fuel the sustainable growth of this sector. The US values food safety and is proud to provide safe, high-quality products for Vietnamese customers at supermarkets across Vietnam.
|US Ambassador Kritenbrink and guests take a look at US food items on the shelves of Lotte Mart|
US exports of consumer-oriented products reached $975 million in 2019. This includes products like beef, pork, and poultry; dairy products; fresh fruit; and snack foods. Additionally, distilled spirits and seafood exports accounted for another $140 million in US exports. Top-selling US products preferred by Vietnamese consumers include beef, pork, poultry, dairy products, and fresh fruits including, apples, cherries, blueberries, oranges, pears, and grapes, according to statistics published by GSO.
The US Food Fair will run until September 23 at four Lotte Marts in Hanoi and Ho Chi Minh City.